Why Sorrento Therapeutics (SRNE) Stock Plummeted Today

NEW YORK (TheStreet) -- Sorrento Therapeutics  (SRNE) plummeted Thursday after the company priced its secondary public offering of 4.765 million shares at $5.25.

The stock closed down 23.73%, or $1.59, to $5.11. More than 2.3 million shares changed hands, which easily surpassed the average volume of 143,730.

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SRNE Chart

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