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Aug. 18, 2020, 5:58 p.m. EDT

Sorrento stock falls after company fires CFO

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By Wallace Witkowski

SRNE

Sorrento Therapeutics Inc. /zigman2/quotes/205669265/composite SRNE +1.89% shares fell in the extended session Tuesday after the biotech drug maker said it fired its chief financial officer. In a Securities and Exchange Commission filing, Sorrento said CFO Jiong Shao's employment was "terminated in its entirety" on Monday, and that Najjam Asghar would take on the CFO role until a successor could be found. Shares of Sorrento fell 9% after hours, following a 1.5% rise to close the regular session at $12.28. Back in May, Sorrento's shares rallied on a potential "antibody cocktail" that could shield people from the virus that causes COVID-19, and in July it licensed a test that could diagnose COVID-19 quickly using saliva. Shares of Sorrento are up 263% for the year.

/zigman2/quotes/205669265/composite
US : U.S.: Nasdaq
$ 4.31
+0.08 +1.89%
Volume: 4.91M
Jan. 19, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.30 billion
Rev. per Employee
$102,257
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