Sorrento stock drops after CFO company fired

Sorrento Therapeutics Inc. SRNE,
+ 1.48%
Stocks fell in the extended session on Tuesday after the biotech drugmaker announced the dismissal of its chief financial officer. In a Securities and Exchange Commission filing, Sorrento said CFO Jiong Shao’s job was “terminated in its entirety” on Monday, and that Najjam Asghar would take on the role of CFO until a successor can be taken over. find. Sorrento shares fell 9% after hours, after rising 1.5% to close the regular session at $ 12.28. In May, Sorrento’s actions rallied around a potential “cocktail of antibodies” that could protect people from the virus that causes COVID-19, and in July, he authorized a test that could diagnose COVID-19 quickly using saliva. Sorrento shares are up 263% for the year.