- Sorrento currently presents a wide multitude of candidate drugs to combat COVID-19.
- Due to this huge Covid-19 program, the share price has skyrocketed in recent months, although since the August peak the stock price has been deflating to reach around $7.
- The problem here is that the company has over-reported the supposed "incredible results" in the preclinical tests obtained for some of these candidate drugs.
- Unless robust and reliable trial results in Covid-19 patients are reported soon, I expect a downward trend over the next several weeks and months.
For further details see:
Sorrento: Why I Am Skeptical About Its Covid-19 Pipeline