(RTTNews) – Shares of Sorrento Therapeutics, Inc. (SRNE) are currently losing nearly 10% on Monday morning following the news that Yale’s saliva-based COVID-19 test received emergency use authorization from FDA, while SRNE’s saliva-based test is still in development.

SRNE is currently trading at $11.20, down $1.23 or 9.93%, on the Nasdaq.