Shares of Sorrento Therapeutics spiked 8% in Wednesday’s pre-market trading after the drugmaker filed for emergency use of its COVID-19 test with the US Food and Drug Administration (FDA). Specifically, Sorrento (SRNE) announced that the FDA application is for the emergency use authorization (EUA) of its COVI-STIX rapid diagnostic test for the detection of the SARS-CoV-2 virus nucleocapsid antigen in nasal samples of patients. According to the latest testing results, the COVI-STIX generates results within 15 minutes. A positive detection can be seen within two minutes for patient samples with high viral load. Going forward, Sorrento is evaluating the potential for COVI-STIX using a saliva sample as well.