Stock Alert: Sorrento Therapeutics Uptick Continues

(RTTNews) - Shares of Sorrento Therapeutics, Inc. (SRNE) are currently gaining 17% on Friday morning, continuing its upward momentum from Thursday.

The biotech company on Wednesday had announced the launch of a rapid diagnostic saliva COVID-19 test that reveals results in 30 minutes.

SRNE is currently trading at $10.03, up $1.48 or 17.31%, on the Nasdaq.

The company said it licensed the Covid-19 from Columbia University that can provide highly accurate results in thirty minutes using only a person's saliva.

Developed by the team at Columbia University Irving Medical Center (CUIMC), initial clinical studies have been extremely promising for both specificity and sensitivity. Sorrento plans to market the product under the name COVI-TRACE.