The Sorrento Therapeutics Inc (NASDAQ:SRNE) stock is back in the news this morning after the company announced that it signed a research collaboration agreement with Mayo Clinic.
The news has come as a boost for the Sorrento stock as well, which has jumped by as much as 5% so far this morning. As per the provisions of the agreement, the research is going to involve human proof of concept study of the Sofusa Lymphatic Drug Delivery System technology that is going to be spread across a range of products and conditions.
The drug delivery system helps in administering biological therapies to patients through the skin and helps in sending medicines directly into the lymphatic system. Such a process can not only help in boosting the effectiveness of immuno-oncology therapies but can also help in improving safety. The latest announcement from Sorrento is a vital one since it indicates that there could be more improvements to the delivery system through this collaboration with Mayo Clinic.
Trader Action:
As of 12.15, SRNE stock is trading higher by 1.50% to $8.85. More than 2.58 million shares traded hands, compared to its average volume of 7.23 million shares. The stock has gained over 25% in the past month.
Technical Indicators
| Symbol | Value | Result | Symbol | Value | Result |
| ADX | 21.2942 | Neutral | ATR14 | 0.5507 | |
| CCI20 | 125.2205 | Buy | Chaikin Money Flow | 0.0054 | Neutral |
| MACD | 0.2471 | Buy | Money Flow Index | 72.2137 | Buy |
| ROC | 21.5877 | Buy | RSI | 62.3891 | Buy |
| STOCH (14,3) | 74.3802 | Sell | STOCH RSI | 0.4817 | Sell |
| UO | 49.2429 | Buy | Williams %R | -25.6198 | Neutral |
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