The Motley Fool explains why Sorrento Therapeutics’ stock increased by 29% last month. According to data given by S&P Global Market Intelligence, shares of biopharma stock Sorrento Therapeutics (NASDAQ: SRNE) rose 28.9% in June. A pair of medication trial updates fueled the building comeback, which was already prepared for bullishness following a sharp retreat earlier in the year. There was no catalyst for the upward trend that began in May. Bullish headlines resumed last month, first with the announcement of a collaboration with the US Navy’s medical research arm to develop on COVID-19 therapeutics, and then with the announcement that it had received regulatory approval from Mexico to offer COVID quick testing in that country./n
Read MoreStock market news live updates: Stock futures extend declines as growth concerns weigh
2021-07-08T22:43:32-04:00July 8th, 2021|