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Sorrento Rallies On EUA Filing For Rapid COVID-19 Antibody Test Kit

shares were headed higher Thursday following an announcement concerning its antibody test kit for SARS-CoV-2, the virus that causes COVID-19.” data-reactid=”19″>Sorrento Therapeutics Inc (NASDAQ: SRNE) shares were headed higher Thursday following an announcement concerning its antibody test kit for SARS-CoV-2, the virus that causes COVID-19.

The antibody test is capable of yielding results in 8 minutes or less, according to the company. The test confirms the assay validity by developing three clear lines. 

Upon validation testing, the test demonstrated a specificity greater than 97% and diagnostic sensitivity of greater than 94%, Sorrento said. 

COVI-TRACK appears to have highly competitive attributes, H.C. Wainwright analyst Raghuram Selvaraju said in a note, citing rapid generation of results and readily interpretable results. The test also has performance metrics above the thresholds set by the FDA, the analyst said. 

Latest Ratings for SRNE

Date Firm Action From To
May 2020 Dawson James Initiates Coverage On Buy
Mar 2020 H.C. Wainwright Reiterates Buy
Oct 2019 JMP Securities Initiates Coverage On Market Outperform

View the Latest Analyst Ratings” data-reactid=”32″>View More Analyst Ratings for SRNE
View the Latest Analyst Ratings

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