Sorrento Therapeutics Inc (SRNE)

[midas716]

Sitting pretty good. Although we got forced to the downside of the 20ma 200ma squeeze I still believe we see a breakout of the 200ma with the 20ma 200ma cross this week. Friday held up surprisingly well. Bollinger bands are closing up. PPS has lost around 50% from last high which is normal for consolidation and is holding steady.

Here's an example. TXMD is up premarket ($1.60) on a .07 narrowing of it's loss and the resubmitting to the FDA for an NDA (6 month time frame) on one of it's drug candidates.

SRNE reports 11/13. We narrowed and beat analyst expectations last quarter by .14. With another narrowing and beat we should see a jump as well. The difference will come in February if the FDA approves our NDA, resubmitted roughly 4 months ago, for the Lidocaine patch. If that occurs the PPS jump will be huge.