Sorrento Therpt (SRNE) is trading -6% lower at $1.755 today. While the Health Care sector is having a slightly dispirited day in general, the company is faltering behind it's peers.

Sorrento Therpt has been trading between a 52-week high of $9.63 and a 52-week low of $1.15. The stock has a market cap of $790 Million.

Sorrento is a clinical stage, antibody-centric, biopharmaceutical company developing new therapies to turn malignant cancers into manageable and possibly curable diseases. Sorrento's multimodal, multipronged approach to fighting cancer is made possible by its extensive immuno-oncology platforms, including key assets such as fully human antibodies ('G-MAB™library'), clinical stage immuno-cellular therapies ('CAR-T', 'DAR-T'), antibody-drug conjugates ('ADCs'), and clinical stage oncolytic virus ('Seprehvir®'). Sorrento is also developing potential coronavirus antiviral therapies and vaccines, including COVIDTRAP™, ACE-MAB™, COVI-MAB™, COVI-GUARD™, COVI-SHIELD™and COVI-CELL™.

Sorrento Therapeutics Q2: COVISTIX Sales Are Lagging Behind (NASDAQ:SRNE)
Seeking Alpha 08-20-22

SRNE stock on watch as China clears trial for oral COVID-19 therapy (NASDAQ:SRNE)
Seeking Alpha 08-19-22

Sorrento Therapeutics Announces China National Medical Products Administration (NMPA) IND Clearance of STI-1558, An Oral Mpro Inhibitor for Phase I Trial In COVID-19 Patients
GlobeNewswire 08-19-22

Scilex Holding Company, a Sorrento Company, Announces Exclusive Product Distribution Agreement with CH Trading Group LLC to Expand Commercialization of ZTlido across certain designated territories including Middle East and North Africa
Wallstreet:Online 08-17-22

Should This Keep Sorrento Therapeutics Inc. (NASDAQ: SRNE) Investors Up At Night?
Stocks Register 08-16-22


As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

FiscalBurrito - 0 upvotes - source
SRNE. Gonna go nuclear with an approval in the next 6-12 months. Probably 2 or 3 approvals and multiple companies they own. Sorrento