SIGA - Sector: Healthcare---Industry: Biotechnology & Drugs

[wontfindaname]

I have to say that day by day, I'm losing hope that this stock will retrace at least some of its losses. The current downtrend has lasted a month already with only one up day in the middle. What do you think the bottom is on this one? What is the potential upside without any news?

[kslifka]

I have to say that day by day, I'm losing hope that this stock will retrace at least some of its losses. The current downtrend has lasted a month already with only one up day in the middle. What do you think the bottom is on this one? What is the potential upside without any news?

Siga is following the lower BB band...which is never good.  I usually never let a stock fall to the half way point between the bands. 

Anyway...it will probably fill the gap.

[wontfindaname]

By filling the gap, do you mean fall back down to 2? 

The doji is a bit encouraging though.

[wontfindaname]

Interesting ending to the day. Combined with yesterday's doji, I'm curious as to where this will lead us next week. I'm really hoping we can end the year trading at 3+. It will ease my margin requirements and also give us a higher springboard on any positive news next month.

[wontfindaname]

Another solid day. After the doji, we've had two straight up days. Both days, we had a big buyer at the last minute to paint the tape a little. I don't know what that means though. There seems to be significant resistance in the mid 2.80s that the buyer was rightfully afraid of. Even today, if it wasn't for the resistance, we might have closed upwards of 3.

The stockholder's meeting is tomorrow. Let's see what that brings us. GLTA longs.

[Se7en]

SIGA up 30% on news!


FDA Approves Orphan Drug Designation for SIGA's Smallpox Drug, SIGA-246
Wednesday December 20, 2:30 pm ET
The Designation is for Both Treatment and Prevention of Smallpox

NEW YORK--(BUSINESS WIRE)--SIGA Technologies, Inc. (NASDAQ: SIGA - News) announced today that the Office of Orphan Products Development (OOPD) of the United States Food and Drug Administration (FDA) has granted Orphan Drug designation to SIGA-246, SIGA's smallpox drug, for the prevention and treatment of smallpox. In December 2005, the FDA awarded SIGA-246 fast track status to expedite the drug's review.

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Orphan Drug designation will entitle SIGA to seven years of marketing exclusivity in the United States if SIGA-246 becomes the first drug of its kind to obtain marketing approval from the FDA. Historically, the approval time for orphan products as a group has been considerably shorter than the approval time for other drugs.

"This is an important step in bringing SIGA-246 to market. The drug has made significant progress since the approval of its Investigational New Drug application just a year ago. In July 2006, we successfully completed the first planned human clinical safety trial, and, in October, the drug demonstrated 100% protection against human smallpox virus in a primate trial. We believe that SIGA-246 holds great promise and will be the first drug available to prevent and treat the disease without significant side effects," said Dr. Dennis E. Hruby, Chief Scientific Officer of SIGA.

Smallpox has been designated by the Department of Homeland Security as a "material threat" to our national security, qualifying SIGA -246 for purchase for the Strategic National Stockpile under Project Bioshield. Currently, there is no effective and safe smallpox therapy available without the risk of significant complications, and the U.S. government has expressed strong interest in the development of novel smallpox therapies. Existing techniques to prevent or ameliorate smallpox have unacceptably high rates of complications, including encephalitis, myocarditis and death, and can take days or weeks to confer protection.


http://biz.yahoo.com/bw/061220/20061220005778.html?.v=1

[la-onda]

on fire

[MrChina]

MONSTER NEWS....2 YEARS EARLYER APPROVED!!

AWESOME!!!

THAT'S MEAN HUGE CONTRACT ON HORRIZONT....

[for3J1M]

nice! 

[la-onda]

is there any entry strategy for SIGA from TA side?

FDA APPROVES ORPHAN DRUG DESIGNATION FOR

SIGA'S SMALLPOX DRUG, SIGA-246



THE DESIGNATION IS FOR BOTH TREATMENT AND PREVENTION OF SMALLPOX



New York, December 20, 2006 -- SIGA Technologies, Inc. (NASDAQ: SIGA) announced today that the Office of Orphan Products Development (OOPD) of the United States Food and Drug Administration (FDA) has granted Orphan Drug designation to SIGA-246, SIGA's smallpox drug, for the prevention and treatment of smallpox.  In December 2005, the FDA awarded SIGA-246 fast track status to expedite the drug's review.

Orphan Drug designation will entitle SIGA to seven years of marketing exclusivity in the United States if SIGA-246 becomes the first drug of its kind to obtain marketing approval from the FDA.  Historically, the approval time for orphan products as a group has been considerably shorter than the approval time for other drugs.


"This is an important step in bringing SIGA-246 to market.  The drug has made significant progress since the approval of its Investigational New Drug application just a year ago.  In July 2006, we successfully completed the first planned human clinical safety trial, and, in October, the drug demonstrated 100% protection against human smallpox virus in a primate trial.  We believe that SIGA-246 holds great promise and will be the first drug available to prevent and treat the disease without significant side effects," said Dr. Dennis E. Hruby, Chief Scientific Officer of SIGA.

Smallpox has been designated by the Department of Homeland Security as a "material threat" to our national security, qualifying SIGA -246 for purchase for the Strategic National Stockpile under Project Bioshield.  Currently, there is no effective and safe smallpox therapy available without the risk of significant complications, and the U.S. government has expressed strong interest in the development of novel smallpox therapies.  Existing techniques to prevent or ameliorate smallpox have unacceptably high rates of complications, including encephalitis, myocarditis and death, and can take days or weeks to confer protection.

[Se7en]

touched 5$, holy cow!!! 

[MrChina]

TARGET FOR TOMORROW???

[kslifka]

TARGET FOR TOMORROW???

$10...just kidding.

It closed right at open of the black candle.  $5.50 would be plausible.  If it gets above that...the sky's the limit

[wontfindaname]

I have to say I'm glad I held my 15000 shares even against common sense. I checked my portfolio on the phone on Ameritrade mobile around 3:50 and nearly got into an accident. Hopefully, this will rise more till Chrismas and give me a nice present!

[ScottishTrader]

15000 shares!!! Yowza!  Thats some serious profits right there!!!  I was pretty happy with my 500 shares.  Picked em up at 3.35 today, when the news came out.  My thinking is this has to be the real deal for SIGA, but looking at the chart, all signs point to being very careful here.  The only difference between this and the recent gaps has been that this news was released during market hours.  It still didn't come close to the volume of the big october gap (although admittedly it all happened in the last hour and a half of trading).

Oliver, its so hard to judge these things from the TA side, when you get a rocket fueled move like this.  It was looking so strong, (and I was sitting at my computer just begging the market to close so it couldn't sell off!!).  4.50 should provide support, 4.20 area should provide support, 3.75-3.80 should provide support, but really who knows until we see a bit of the action tomorrow.  My concern is every other recent big move has been followed by a significant retrace, so if it looks to be gapping down tomorrow, I wil probably sell half at the open.  The candle midpoint is 3.85 (calculated from open and closing prices), so some may look for entry there, but if this news is seen as significant, it could also easily drive the stock well past $5.  I would look to scale entries in and see how the chart develops.