The Waiting Game

It is no secret that the corona virus has lingered in our country much longer than any others. This longing for the disease to go away goes hand in hand with the wait to see which company will skyrocket from their work on the virus. Many have had their days in the limelight such as Pfizer ($PFE) and Moderna ($MRNA). One that is much cheaper yet lesser known is Sorrento Therapeutics ($SRNE). I mentioned Sorrento a while back in a post titled, The Race For the Cure and harped on its low price despite recently rising high. That was back when the stock was about $7 and yesterday after market, it touched $20. Today it came down to $14, but this is exactly what it did the last time it had a huge day, before slowly grinding upwards. The cheap pharmaceutical still remains attractive to me because of a deal it has with Columbia University. This licensing agreement gave Columbia access to a Covid-19 saliva swab test that gives results in 30 minutes. Another positive for Sorrento Therapeutics was their acquisition of SmartPharma, a gene-encoded therapeutic company. These recent moves and the steady rise in price shows that Sorrento Therapeutics is no pump and dump scheme.

-Darnel Shillingford

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