Why Adaptimmune Therapeutics, Agenus, and Sorrento Therapeutics Popped Today
Shares of the small-cap cancer companies Adaptimmune Therapeutics (NASDAQ: ADAP), Agenus (NASDAQ: AGEN), and Sorrento Therapeutics (NASDAQ: SRNE) all rose by more than 5% during Tuesday's trading session. Adaptimmune, Agenus, and Sorrento appear to be getting a much-needed boost from Regeneron's (NASDAQ: REGN) premium-rich buyout of the clinical-stage cancer company Checkpoint Pharmaceuticals (NASDAQ: CMPI) announced earlier today.
Unfortunately, these clinical-stage cancer companies haven't been able to completely hold on to these early gains as Tuesday's trading session has progressed. As of 2:36 p.m. ET Tuesday, Adaptimmune's shares are up by 4.3%; Agenus' stock is in the green by a modest 1.35%; and Sorrento's equity is clinging on to a 3.9% gain for the day.
Image source: Getty Images.
Source Fool.com
