You know a company has some really good news when its stock skyrockets 144% in a single day. That's exactly what Sorrento Therapeutics (NASDAQ: SRNE) shares did on Friday. And it looked like the biotech's momentum would keep going on Monday, with Sorrento soaring more than 40% early before giving up its additional gains.
Sorrento indeed had some really good news. The company announced Friday morning that its experimental antibody STI-1499 was able to completely inhibit infection by the novel coronavirus in a preclinical test. With this promising news, is Sorrento Therapeutics stock a buy?
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