Long Position on SIGA @ $13.90 on 7/19/2022 (Momentum)

SIGA Technologies, Inc. (SIGA) is a commercial-stage pharmaceutical company.  

It focuses on the health security and infectious disease markets in the United States.

Its lead product is TPOXX, an oral formulation antiviral drug for the treatment of human smallpox disease caused by variola virus.

SIGA Technologies, Inc. has a strategic partnership with Cipla Therapeutics to deliver sustained innovation and access to antibacterial drugs primarily against biothreats. 

Late last month, the company announced a $13 million order for its treatment for MonkeyPox. The order includes $11 million for initial procaurement from two new international jurisdictions and an approximate $2 million order from a country in the Asia Pacific region with an established contract for oral TPOXX. Shares are heading higher in an upward trading channel. Currently shares are at the bottom of the said channel.

Entry Point: $13.90

Trading Range: $5.7301 to $15.79

Stop Loss: $13.00

Target Price: $15.30

Position closed on 7/25/2022 at price of $15.30 with a 10.07% gain in 6 days.

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