Sorrento Therapeutics (NASDAQ:SRNE), an American biopharmaceutical company, said it discovered an antibody that “100% blocks coronavirus . ” “We emphasize that this is a medicine. We have a solution that definitely works , ”said Dr. Henry Ji., the company’s founder .
According to him, anti-STI-1499 “envelop virus” and makes it impossible to “cling to the cells in the human body” . Finding itself without the vital replenishment necessary for virus to continue its existence, the coronavirus dies in four days.
Dr. Ji noted that with a drug containing STI-1499, quarantine can be removed in all countries. “If we have a neutralizing antibody in the body, social distance will not be necessary, ” he emphasized.
After a speech by the founder of Sorrento Therapeutics, the company’s shares went up 220%. The company’s press release states that it is capable of producing 200 thousand doses of the drug per month. Negotiations are underway with other pharmaceutical companies to increase production to several million doses.
SO, is SRNE still buy? It all depends on how true this information is and how fast can they start production. Maybe this news is just too good to be true?