Why Sorrento Therapeutics Stock Cratered on Friday

Why Sorrento Therapeutics Stock Cratered on Friday

Among other terms, ACEA could earn up to an additional $265 million if it hits certain sales and operational milestones. ACEA is a clinical-stage biotech that concentrates on oncology treatments, and it is already familiar to Sorrento. As is fairly typical for relatively young biotech companies, Sorrento is loss-making on the bottom line.