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GlenmarkHello and welcome to this analysis Glenmark after consolidating near its monthly support attempted a fresh upmove from 350 to 400, Post that it has made a sideways corrective forming a Bullish Harmonic ABCD. The current reversal from 375 could be a higher low of the new uptrend in it and it could rally till 410-425-450 as long as it does not breach 374. Confirmation if it sustains above 390. Good risk reward set up scenario of a higher low formation which could lead to a higher high thereon till its falling trendline
NSE:GLENMARKLong
by Dinesh_C_Nagpal
Pharma firm SIGA cashes in on monkeypox scareNew York-based pharmaceutical firm SIGA Technologies (NASDAQ:SIGA) is among the companies to benefit from the growing threat of monkeypox, recently pushing its shares to an almost decade-high after the company obtained approval in Europe to use its TPOXX antiviral drug for the treatment of monkeypox. Smallpox jabs vs monkeypox On May 19, the World Health Organization declared that vaccines used against smallpox — before the virus was eradicated in 1980 — can be used to fight monkeypox. SIGA already won approval from the US Food and Drug Administration in 2018 to distribute its oral TPOXX capsules as a treatment against smallpox even when there were no reports of confirmed or possible cases of smallpox at the time. US advances in vaccine orders Most recently, SIGA on Thursday secured another approval from the FDA for the intravenous (IV) formulation of TPOXX for patients who are unable to swallow the drug’s oral variant. SIGA said the IV formulation of TPOXX has already been cited in the recent US president’s budget request to treat a patient with monkeypox in the US. The company's shares surged 43% on Friday before paring gains to close 13% lower on the Nasdaq on Monday, and another 15.5% on Tuesday. SIGA stock remains up 26.5% over the past 5 days of trading. SIGA also stands to benefit from TPOXX’s use in Canada and Europe, where cases of moneypox were detected in recent weeks. Europe has already approved the use of TPOXX against monkeypox, cowpox, and complications from immunization with vaccinia, the company said. Growing monkeypox threat Monkeypox, first discovered in 1958, is a viral illness that first occurred in colonies of monkeys. The first human case of the virus was recorded in the Democratic Republic of Congo in 1970, according to the US Centers for Disease Control and Prevention. The virus can cause symptoms like fever, body aches, swollen lymph nodes and bumpy rashes. Cases of monkeypox have so far been reported in at least 17 countries including the US, Canada, the UK, Spain, Portugal, France, Italy and Australia. Big pharma steps in SIGA and another vaccine maker in Denmark, Bavarian Nordic (CPH:BAVA), have kept samples of smallpox virus for research purposes in case of biological warfare. The emergence of monkeypox this year prompted both companies to start mass producing vaccines against smallpox to offer protection against monkeypox. CDC officials on Monday said the US is in the process of releasing Bavarian Nordic’s Jynneos vaccine doses to fight against monkeypox. The US has stockpiled more than 1,000 doses of the vaccine and CDC officials expect to boost their purchases in the coming weeks. Bavarian Nordic’s shares on the Nasdaq Copenhagen surged to a four-month high on Monday. The Danish company on May 18 said the US government has already placed a $119 million order for the production of freeze-dried Jynneos vaccines, although deliveries are not expected until 2023 and 2024. Meanwhile, Moderna (NASDAQ:MRNA), which succeeded in developing vaccines against COVID-19, also started testing vaccines against monkeypox. The company on Tuesday said it is investigating potential vaccines against monkeypox in pre-clinical trials. No urgent need for mass vaccinations Although vaccines against monkeypox are already within reach just weeks into reports of an outbreak emerged, some experts and WHO officials say inoculations against monkeypox will not likely involve a mass campaign as the virus, unlike COVID-19, is not as contagious. Vaccinations would likely be focused only on people with close contact with infected individuals. "If a case is reported in the country, a public health SWAT team goes out, finds out who the close contacts are of that first case, and vaccinates just those close contacts, and not the entire city or suburb,” Dr. David Freedman, professor emeritus of infectious diseases at the University of Alabama, was quoted by Time magazine as saying.
NASDAQ:SIGA
by BlackBull_Markets
ABEO One Year PlayNASDAQ:ABEO I have been watching ABEO for about a month now. ABEO has the potential to make a few bucks but is relatively high on risk. I hesitate parking too much money here for too long but do believe this will reap rewards in 6-12 months. Some reasoning goes as follows: 1) Legitimate company that is in the middle of working on multiple gene therapy products for rare conditions. 2) Past spike was caused by announcements of news and positive news regarding one product New Positive Phase 1/2 Interim Data Presented at WORLDSymposium™ Shows Neurocognitive Development of Young MPS IIIA Patients Preserved up to Three Years Following Treatment with Abeona’s ABO-102 Gene Therapy Feb 12, 2021 Abeona Therapeutics Announces Clinical Investigator Webinar to Review ABO-102 and ABO-101 Clinical Data Presented at the 17th Annual WORLDSymposium™ Feb 3, 2021 3) There will be multiple announcements coming this year EB-101 Completion of patient enrollment for the EB-101 Phase 3 VIITAL™ study in the first quarter of 2022 Top-line VIITAL™ study results in the third quarter of 2022 ABO-102 Construct and operationalize the new AAV manufacturing facility in 2022 Top-line results for MPS IIIA Transpher A study between the fourth quarter of 2022 and second quarter of 2023 ABO-101 Two-year neurocognitive data from MPS IIIB Transpher B study in the second half of 2022 Preclinical Pipeline Generate proof-of-concept data assessing AAV capsids in multiple undisclosed eye indications beginning in the first half of 2022 Pre-IND meeting with FDA in the second half of 2022 4) The announced public offering of stock has been gobbled up while the price remains flat. This points to accumulation. I would be looking to put 5% of my trading capital into this stock at a price point of .27 and the price target is $3 even. Obviously a 10 bagger is rare, but this might have some potential.
NASDAQ:EFOI
by FalconFidelis7
AUROBINDO PHARMA - Price Action Analysis Considering last week candle, NSE:AUROPHARMA has already given confirmation of further sign of selling . Price has created harmonic Shark pattern with PRZ level 0.886 and 1.13 with price 651.70 and 548.75 respectively. As we have witnessed of bounce from 0.886 level but not sustained above 200 MA. Two things are possible here : 1. It again takes confirmation support nearest to 0.886 level and shows bullish reversal candle with high volume. 2. Or can see further sell off up to 1.13% level at price 548.75. BUY: if price sustains above both PRZ level can gives further upside opportunity. SELL : below 650 price, you can sell if its break or you can do every rise sell with strict SL.
NSE:AUROPHARMAShort
by vraj8597