Why Sorrento And Infinity Are Moving Today

Sorrento Therapeutics (NASDAQ: SRNE) shares are trading higher on Wednesday after the company announced it has received CLIA Licensure from the State of California that permits testing of clinical samples.

Sorrento Therapeutics is a biotechnology company focused on the development of novel immunotherapies for oncology and autoimmune/inflammation diseases.

Sorrento Therapeutics shares were trading up 4.81% at $8.28 at the time of publication. The stock has a 52-week high of $19.39 and a 52-week low of $1.55.

Infinity Pharmaceuticals (NASDAQ: INFI) shares are trading lower after the company announced the presentation of front-line triple-negative breast cancer data from its ongoing Phase 2 Mario-3 trial at the 2020 San Antonio Breast Cancer Symposium.

Infinity Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing novel medicines for the treatment of specific cancers. Infinity has a strategic partnership with AbbVie to develop some of its oncology-related treatments. The company operates in only one segment which is drug development.

Infinity Pharmaceuticals shares were trading down 17.15% at $2.30. The stock has a 52-week high of $3.13 and a 52-week low of 60 cents.