Sorrento Therapeutics Inc (SRNE)

[microcapbiotech]

There is nothing wrong with making quick money on a hyped stock. But you should protect some of the profit after it goes crazy up. Don't keep chasing like all who bought pre-market this morning. Every pre-market buy is now a loss.

As I posted: I've followed SRNE for years, Henry Ji (CEO) can be a hype machine at times.
And considering that SRNE had only $21.9M in cash and equivalents at the end of March while operations consumed ($38.6M) in Q1, it sure seems like an advantageous time for such a bold proclamation, to garner government grants or to artificially raise stock price for possible dilution.

May 18, 2020 8:08 AM ET
Vital Knowledge Media joined Stat's Adam Feuerstein in voicing skepticism over Friday's announcement that Sorrento Therapeutics (NASDAQ:SRNE) had discovered an antibody, dubbed STI-1499, that, it says, can provide 100% inhibition of COVID-19.
The co. indicated then that their discovery could be "more effective" than a vaccine.
The statement Friday was "very disingenuous" on their part, and, generally, "some of the narratives around drugs and vaccines" need to be tempered, Adam Crisafulli of Vital Knowledge said, highlighting concerns about timing, coming to market and distribution and immunity through the population.