Shares of Sorrento Therapeutics, a small pharma company based out of California, rose as much 344% intraday, on Friday after the company claimed that it has found an antibody that could potentially treat SARS-CoV-2, the virus that leads to COVID-19. While this is promising, the company still has to go through human trials and FDA approvals.
Let’s wait and watch.
Sorrento’s share volume traded on Friday was 72 times the average.
