Why Sorrento Therapeutics Stock Jumped Today

Shares of Sorrento Therapeutics (NASDAQ: SRNE) leapt 10.4% on Wednesday, after the biopharmaceutical company released initial pre-clinical results from its COVID-19 vaccine program. 

Sorrento said its vaccine candidate T-VIVA-19 (targeted virus vaccine against COVID-19) induced antibodies against SARS-CoV-2, the virus that causes COVID-19, after being injected into mice.

"Approximately 80% of the mice's sera possessed neutralizing antibodies and completely prevented virus infection in in vitro cell cultures using 100 TCID50 viruses and VERO cells," the company said in a press release.

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Source Fool.com