This month, shares of Sorrento Therapeutics (NASDAQ:SRNE) have had the best monthly gain in the last 12-month period. Shares of the clinical-stage biotech company have jumped as much as 134% from $2.03 to $4.75 during the month.
Key DriversThe stock has seen unusual volume throughout the month following several new corporate developments.
On March 22nd, 2019, Sorrento Therapeutics announced the merger of its majority-owned subsidiaries Scilex Pharmaceuticals and Semnur Pharmaceuticals. The merged entity is known as Scilex Holding Company. Sorrento’s stake in the newly merged company has been reduced to 58% from its ...
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