Soligenix, Inc. (NASDAQ:SNGX) exploded Wednesday after bottoming into some tax loss selling into year end. I bet those who exited are kicking themselves. Shares are up 85% this year and 65% of that Wednesday. They also traded an entire year of volume, so all the haters are jumping back in.
If you look at the chart it has retraces about 38% of the move, so what happens from here is about the execution from the company here after this initial pop.
Soligenix, Inc. (NASDAQ:SNGX) is a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need, announced today that results from its ricin toxin vaccine (RiVax™) development program will be presented at the 20th Annual Conference on Vaccine Research, being held April 24-26 in Bethesda, Md. This is clearly the driver for Wednesday’s move.
“Serum Antibody Profiling following Vaccination Reveals a Correlate of Immunity to Ricin Toxin” will be presented by Jennifer Yates, Ph.D., New York State Department of Health, Wadsworth Center and attended by Oreola Donini, Ph.D., Chief Scientific Officer of Soligenix, on April 25 at 2:15 p.m. Eastern time.
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RiVax™ is the Company’s proprietary vaccine candidate for the prevention of exposure to ricin toxin that utilizes a unique antigen that is completely devoid of the toxic activity of ricin. When formulated with ThermoVax®, Soligenix’s proprietary vaccine heat stabilization technology, RiVax™ has demonstrated significantly enhanced thermostability and 100% protection in preclinical ricin aerosol challenge models.
In collaboration with the New York State Department of Health and the laboratory of Nicholas Mantis, Ph.D., Soligenix has been investigating immune correlates of protection in sera of animals vaccinated with RiVax™. The findings demonstrate that: 1) the ThermoVax® thermostabilization process significantly enhances the stability of the RiVax™ antigen; 2) degradation in the antigen can be measured with specific monoclonal antibodies; and 3) these same monoclonal antibodies can be used to probe the immune profile of vaccinated mice and primates and predict their survival to subsequent ricin exposure challenge.
These findings are expected to facilitate the potential approval of the RiVax™ product under the U.S. Food and Drug Administration (FDA) “Animal Rule” and represent a significant step forward in the understanding of ricin toxin immunology. This work was funded by the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health, via Contract #HHSN272201400039C.
Soligenix, Inc. (Nasdaq: SNGX) is a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need. Our BioTherapeutics business segment is developing SGX301 as a novel photodynamic therapy utilizing safe visible light for the treatment of cutaneous T-cell lymphoma, our first-in-class innate defense regulator (IDR) technology, dusquetide (SGX942) for the treatment of oral mucositis in head and neck cancer, and proprietary formulations of oral beclomethasone 17,21-dipropionate (BDP) for the prevention/treatment of gastrointestinal (GI) disorders characterized by severe inflammation including pediatric Crohn’s disease (SGX203) and acute radiation enteritis (SGX201).
The company has a Vaccines/BioDefense business segment which includes active development programs for RiVax™, our ricin toxin vaccine candidate, OrbeShield®, the GI acute radiation syndrome therapeutic candidate and SGX943, our therapeutic candidate for antibiotic resistant and emerging infectious disease. The development of our vaccine programs incorporates the use of proprietary heat stabilization platform technology, known as ThermoVax®.
To date, this business segment has been supported with government grant and contract funding from the National Institute of Allergy and Infectious Diseases (NIAID) and the Biomedical Advanced Research and Development Authority (BARDA).
As mentioned above this is a one day phenomena and it has a long way to go to retrace the declines of 2016, but yesterday was an excellent start. For continuing coverage on shares of $SNGX stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!