Pharmaceutical Company Stock Soars 158 Percent After Claiming Potential Covid-19 Cure

Sorrento Therapeutics claims to have found an antibody capable of shielding the body from being infected by coronavirus.

RIO DE JANEIRO, BRAZIL - The shares of California state Pharmaceutical Company Sorrento Therapeutics were up 241.6 percent during day trading at Nasdaq, on Friday's highest point, after the company claimed to have found a cure for the coronavirus Covid-19. However, the company's shares closed up 158 percent, at R$ 6.76 (US$1.15).

With the rush for Sorrento's shares, the company achieved its first billion dollars in market value. As a result, the company's market value stood at approximately US$1.37 billion. Gilead, its competitor in the dispute for the discovery of . . .

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