In his first "Executive Decision" segment his Mad Money program Thursday night, Jim Cramer spoke with Dr. Henry Ji, chairman, president and CEO of Sorrento Therapeutics (SRNE) , the biotech company that is working towards treatments for Covid-19.
Ji said work continues on the company's neutralizing antibody therapy for Covid-19. Sorrento just entered clinical trials for its first-generation therapy and are on track to be filing to test their second generation in late November. He said it's been very encouraged by the success of Regeneron (REGN) , which has a similar therapy. Work is continuing on Sorrento's rapid test for Covid as well.
We last looked at SRNE on Aug. 11 and wrote that, "A possible harami reversal on the candlestick chart and the first sign that trading volume could be increasing on a down day (a peak in the OBV line) suggest that short-term traders may want to nail down profits and trade more cautiously." Prices quickly retreated to $6 so our advice looks well timed.