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Shares of Sorrento Therapeutics (NASDAQ: SRNE) fell on Wednesday after the biopharmaceutical company fired its chief financial officer. By the close of trading, Sorrento's stock was down 9.9%.
After the market close on Tuesday, Sorrento disclosed in a Securities and Exchange Commission (SEC) filing that it had terminated CFO Jiong Shao's employment, effective immediately.
Sorrento Therapeutics stock declined on Monday, following news that it had fired a senior member of its leadership team. Image source: Getty Images.