On September 15th Soligenix, Inc. (SNGX) announced that its Phase 3 clinical trial study of orBec to be stopped because it is highly unlikely to achieve the predetermined primary objective of efficacy based on the interim results. Disappointed news for Soligenix after all these years of orBec’s studies, isn’t it? Market reaction was expected – SNGX security went down for over 43% in pre-market trading hours.
Well, since orBec is on hold for indeterminate period, SNGX is technically became a shell. Wait a second! Read what Soligenix’s CEO, Dr.Schaber, said:
“With approximately $7.4 million of cash, we can continue to evaluate other clinical applications for oral BDP in the areas of radiation enteritis, radiation injury, and Crohn’s disease. With continued additional funding under our $9.4 million NIH grant, we can also continue to pursue development of our heat stabilization technology for subunit vaccines including application to RiVax, our vaccine against ricin toxin. Additionally, we will be instituting cost containment measures as we evaluate our strategic options, including whether to further pursue the applications of orBec in the GVHD treatment and prevention space in light of the results of the recent Phase 3 clinical trial.”
Did you see the light at the end of tunnel? Some investors did and so OTC traders, who are always starving for markets with bounce potentials.
That’s why we alerted SNGX to our Twitter followers with an entry share price of $.038.
We were right (as usual) – this OTC penny markets bounced of those lows, tapped $.06 at the same day and even went up to $.065 at the following trading session.
We took profit at $.062 today for 64% gain from yesterday’s entry. Trade smart – Trade With Us.
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Soligenix, Inc. is a late-stage biopharmaceutical company committed to the development of life-saving therapeutics and vaccines. Soligenix has two areas of focus: 1) a therapeutics platform dedicated to the development of products for life-threatening conditions such as gastrointestinal Graft-versus-Host disease and cancer, and 2) a biodefense platform to develop vaccines for military and civilian applications.