Sorrento Therapeutics, Inc., a commercial and clinically staged biopharmaceutical company, develops therapies for cancerous, autoimmune, inflammatory, viral and neurodegenerative diseases. It operates through two segments, Sorrento Therapeutics and Scilex.
SRNE announcement during the week positive results of a COVI-MSC study for patients with Post-Covid breathing difficulties, treatment that is still in phase 1 but could be an important milestone for the company.
As for the technical, we found the company in an uptrend, despite the setback caused by strong market pressure in recent weeks, it settled its price in a key area over the weekly MA50
- Mkt Cap 2.34B
Technical: - Vol average 8.5B - Average RSI levels - MACD Level (12, 26) 1.51 - Price on MA50 Weekly
So what would be looking at in the coming weeks, say 10.50 to 11.00 levels again or is it going to set itself below 10 for a while? Would be good to know cause I'm in red for 30 G's at the moment but I could hold for a year tops to see it come back to the 18 to 20's which would be glorious!