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Sorrento Therapeutics' Vaccine Development 'Spikes' Ahead, More News

Let's check on this pharma name as well as BlackBerry and Antares.
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Portfolio holding Sorrento Therapeutics' (SRNE) scientists recently said they appear closer to developing a Covid-19 vaccine that so far appears to potentially elicit potent antibodies that could neutralize and protect against Omicron (BA.1 and BA.2) and Delta variants -- and may have fewer side effects than other shots.

While it gets a bit technical, the company says it's perfecting the expression of the spike protein profile of its Covid-19 mRNA vaccine in development. (Those who want to read about the science behind the vaccine in development can see it here. Additionally, Sorrento's designer mRNA vaccine, which uses chimeric mRNA that incorporates the Delta receptor binding domain into the Omicron spike protein, appears to provide strong, broad-spectrum protection against both BA.1 and BA.2 sub-lineages of Omicron and Delta variants in immunized animals. Sorrento has plans to seek emergency use authorization approval of this next-generation mRNA vaccine in Mexico and in other developing countries. "The concept of a universal mRNA vaccine is still very appealing for at least two reasons. One is that the virus could continue accumulating more mutations to eventually nullify the effectiveness of marketed mRNA vaccines. Secondly, a universal mRNA vaccine against Covid-19 is much needed worldwide, especially in developing countries," said Sorrento Chairman and CEO Dr. Henry Ji. The portfolio currently rates SRNE as a "Two" with a $4 target price. An add would probably be considered below $2.25.

Canada Grows BlackBerry Former portfolio holding and current bullpen member BlackBerry Limited (BB) announced that the Region of Niagara (Ontario) has selected BlackBerry AtHoc as its critical event management platform. BlackBerry AtHoc will be deployed by Niagara's 13 municipalities, as well as the Niagara Regional Police Service, enabling advanced communications and faster, more effective crisis response to help keep the region's nearly 500,000 citizens safe in times of crisis. The announcement is the result of a partnership between BlackBerry and TELUS, which enabled TELUS to resell BlackBerry AtHoc across Canada. "We are honored to serve the Niagara Region, in a joint effort with TELUS, with BlackBerry technology to enable the safety and security of the community. BlackBerry AtHoc, the most secure critical event management solution, will modernize the Niagara Region's systems and give Canadians increased confidence in their resiliency," said Ramon Pinero, vice president at BlackBerry AtHoc. BlackBerry is not currently in the portfolio, but is up a rough 10%, since exiting our book and remains under consideration going forward.

Tea Time for Antares Pharma?

Readers will note that portfolio holding Antares Pharma (ATRS) has been hot for a couple of months now, taking back the stock's 50-day simple moving average in late February and then riding the 21-day exponential moving average up though the 200-day simple moving average in March. Currently, the Relative Strength Index is approaching a technically overbought condition, but is not quite there just yet. That said, the Full Stochastics Oscillator is looking tired and the daily Moving Average Convergence Divergence (MACD) oscillator does appear extended.

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What I see is a forming cup (or is it a saucer) pattern that began back in July. That would place the pivot at $4.50, while leaving the portfolio's $5.25 target price exactly where it is. One thing to look out for would be some selling pressure that would add a handle to this cup. There is an unfilled gap between $3.56 and $3.66 that could act as a gravitational force. Should this play out, the pivot would swing from the left side of the cup to the right and the portfolio would have to adjust its target accordingly. The portfolio would be inclined to add on such a dip.

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