62.3 F
New York
Wednesday, October 21, 2020

Soligenix, Inc. (NASDAQ:SNGX) Shares Take Flight

Must read

PPG Industries Inc. (NYSE:PPG) Recent Earnings Shows Major Concern

PPG Industries Inc. (PPG) shares are trading at lower $134.32 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Inuvo Inc. (AMEX:INUV) Stock is Soaring, Here is Why

Inuvo Inc. (INUV) shares are trading at higher $0.37 and the avg recommendation for the stock is Moderate Buy. To add more color to...

The Rejuvenation of Syndax Pharmaceuticals Inc. (NASDAQ:SNDX)

Syndax Pharmaceuticals Inc. (SNDX) shares are trading at lower $17.28 and the avg recommendation for the stock is Strong Buy, while the current analyst...

Renewed Optimism is Surrounding ZoomInfo Technologies Inc. (NASDAQ:ZI)

ZoomInfo Technologies Inc. (ZI) shares are trading at higher $44.16 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Soligenix, Inc. (NASDAQ:SNGX) is small cap biopharma play that has recently been on the move in a big way, launching as much as 30% on Monday with no obvious or immediate catalyst. That said, SNGX recently announced that it would be presenting an overview of its SGX94 (dusquetide) technology platform on July 13, 2017 at the Drug Discovery and Therapy World Congress (DDTWC) taking place in Boston, MA from July 10 -13, 2017.

SNGX noted some days ago that its presentation would address dusquetide’s novel mechanism of anti-inflammatory, anti-infective and tissue-healing action, as well as final results from its SGX942 Phase 2 clinical trial in oral mucositis. As the reader will no doubt be aware, this presentation has, at this point, come and gone. To see the stock spike higher in the immediate aftermath of such an event is suggestive, to say the least. One wonders if we are perhaps seeing a smart money reacting to the presentation, and to information that may be repackaged and announced just around the corner for the general public.

Soligenix, Inc. (NASDAQ:SNGX) bills itself as a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need.

Find out when $SNGX stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

SNGX notes that it maintains two active business segments: BioTherapeutics and Vaccines/BioDefense.

The BioTherapeutics business segment is developing a first-in-class photo-dynamic therapy (SGX301) utilizing safe, visible light for the treatment of cutaneous T-cell lymphoma (\”CTCL\”), 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), and its novel innate defense regulator (\”IDR\”) technology (SGX942) for the treatment of oral mucositis in head and neck cancer.

SNGX’s vaccines/BioDefense business segment includes active development programs for RiVax, its ricin toxin vaccine candidate, VeloThrax, its anthrax vaccine candidate, OrbeShield, its GI acute radiation syndrome (\”GI ARS\”) therapeutic candidate and SGX943, its melioidosis therapeutic candidate.

The development of its vaccine programs are supported by the company’s heat stabilization technology, known as ThermoVax, under existing and on-going government contract funding. With the recently awarded government contract from the National Institute of Allergy and Infectious Diseases (\”NIAID\”), the company will attempt to advance the development of RiVax to protect against exposure to ricin toxin.

According to company materials, “We plan to use the funds received under our government contracts with the Biomedical Advanced Research and Development Authority (\”BARDA\”) and NIAID to advance the development of OrbeShield for the treatment of GI ARS.Soligenix 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). Our Vaccines/BioDefense business segment includes active development programs for RiVax, our ricin toxin vaccine candidate, OrbeShield, our GI acute radiation syndrome therapeutic candidate and SGX943, our melioidosis therapeutic candidate. The development of our vaccine programs incorporates the use of our proprietary heat stabilization platform technology, known as ThermoVax. Currently, this business segment is supported with up to $58 million in government grant and contract funding from the National Institute of Allergy and Infectious Diseases (NIAID) and the Biomedical Advanced Research and Development Authority (BARDA).”

Traders will note 40% piled on for shareholders of the listing during the trailing month, a bounce that has taken root amid largely bearish action over the larger time frame. That said, SNGX has a track record that includes a number of dramatic bounces. In addition, the listing has registered increased average transaction volume recently, with the past month seeing greater than 460% over the long run average.

In addition, the listing has registered increased average transaction volume recently, with the past month seeing greater than 460% over the long run average.

Earning a current market cap value of $13.19M, SNGX has a significant war chest ($7.1M) of cash on the books, which stands against virtually no total current liabilities. SNGX is pulling in trailing 12-month revenues of $9.1M. However, the company is seeing declines on the top line on a quarterly y/y basis, with revenues falling at -49.4%. You can bet we will update this one again as new information comes into view. 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!

Disclosure: we hold no position in $SNGX, either long or short, and we have not been compensated for this article.

Latest article

Is Now the Time to Invest in SITE Centers Corp. (NYSE:SITC)?

SITE Centers Corp. (SITC) shares are trading at lower $7.19 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Anheuser-Busch InBev SA/NV (NYSE:BUD) Stock is Soaring, Here is Why

Anheuser-Busch InBev SA/NV (BUD) shares are trading at higher $55.53 and the avg recommendation for the stock is Strong Buy, while the current analyst...

Manulife Financial Corporation (NYSE:MFC) is Holding Steady

Manulife Financial Corporation (MFC) shares are trading at lower $14.02 and the avg recommendation for the stock is Strong Buy, while the current analyst...

Investor Confidence is Falling for Paychex Inc. (NASDAQ:PAYX)

Paychex Inc. (PAYX) shares are trading at lower $81.93 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

Splunk Inc. (NASDAQ:SPLK) is Gaining Momentum on Earnings Catalyst

Splunk Inc. (SPLK) shares are trading at higher $207.21 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...