Why Sorrento Therapeutics Is Trading Higher Today

Sorrento Therapeutics, Inc. (NASDAQ: SRNE) shares are trading higher on Monday after the company released results of its Phase 1B trial of resiniferatoxin in reduction of osteoarthritis knee pain.

Sorrento Therapeutics is a biotechnology company focused on the development of novel immunotherapies for oncology and autoimmune/inflammation diseases. The antibody technologies target various locations: extracellular, intracellular, and membrane-bound antigens. The product portfolio consists of BioSimilar/BioBetter antibodies, CAR-T programs for treatment of solid tumors, adoptive cellular therapies, immuno-oncology mAbs, and antibody drug conjugates.

Sorrento shares are trading up 4.58% at $10.08 during the time of publication on Monday. The stock has a 52-week high of $19.39 and a 52-week low of $1.39.