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Renewed interest in emerging biotechnology companies lifted Sorento Therapeutics (NASDAQ:SRNE) recently. Excessive bearish volumes against the stock could squeeze them out further. If Sorrento continues to post positive news in its drug and testing developments on the novel coronavirus, then SRNE stock may keep rising.Source: Shutterstock At a 34.3% short float, the bearish bet on Sorrento is getting too crowded.The company posted a pair of news releases that caught investor attention. On Sept. 17, the company received U.S. Food and Drug Administration approved its Phase 1 clinical trial of STI-1499. COVI-GUARD is a neutralizing antibody for treating hospitalized Covid-19 patients.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSorrento previously posted preclinical studies of STI-1499. It "demonstrated 100% in vitro neutralizing effect against SARS-CoV-2, preventing infection of healthy cells." The company then evaluated STI-1499 on multiple strains. Once again, it proved 100% effectively. So, when Sorrento presented the results of infected...
(Bloomberg) -- Apollo Global Management Inc. and Caesars Entertainment Inc. have approached U.K. gambling group William Hill Plc about a potential takeover, the latest consolidation in the betting industry.William Hill has received separate cash proposals from the two groups, it said in a statement Friday after Bloomberg News reported on the Apollo approach. Talks are ongoing and there is no certainty that a formal offer will be made, William Hill said.Shares of the bookmaker surged as much as 41% in London trading on Friday, an intraday record. The company now has a market value of about 3.2 billion pounds ($4 billion). Rival betting companies also rose, with Flutter Entertainment Plc gaining as much as 5.4% and GVC Holdings Plc advancing as much as 8.7%.Apollo has a history of investments in the gambling sector. It teamed up with TPG for a 2008 leveraged buyout of Harrah’s Entertainment Inc., which was later renamed...
Readers hoping to buy Nutrien Ltd. (TSE:NTR) for its dividend will need to make their move shortly, as the stock is......
LOS ANGELES, Sept. 25, 2020 /CNW/ -- GreenPower Motor Company Inc....
Total (EPA: FP) has revealed that it will carry out its industrial redeployment at the Grandpuits refinery in France with no layoffs....
(Bloomberg) -- Apollo Global Management Inc. and Caesars Entertainment Inc. have approached U.K. gambling group William Hill Plc about a potential takeover.William Hill has received separate cash proposals from the two groups, it said in a statement Friday after Bloomberg News reported on the Apollo approach.Talks are ongoing and there is no certainty that a formal offer will be made, William Hill said. Shares of the bookmaker rose as much as 41% in London trading on Friday, hitting their highest level in more than two years and giving the company a market value of about 3.1 billion pounds ($3.9 billion).A representative for Apollo declined to comment.Apollo has a history of investments in the gambling sector. It teamed up with TPG for a 2008 leveraged buyout of Harrah’s Entertainment Inc., which was later renamed Caesars Entertainment. William Hill is a partner of Caesars and the two are in discussions about merging some...
