Bullish Technical Breakout Alert (OTC:SNGX.OB)
Miv Investments Inc. has initiated an independent bullish technical trading alert for 11/11/09 on Soligenix, Inc. (OTC:SNGX.OB). Shares of the company finished the day at $0.220, up 15.79% from the opening bell on heavy buying pressure. The turning point in the price resulted from two heavy orders of 778,980 at $0.175, and 790,000 at $0.18, which signalled the start of a run up in price.
Soligenix’s lead product orBec® represents a first-of-its-kind oral, locally acting therapy tailored to treat the gastrointestinal (GI) manifestation of Graft-versus-Host disease GVHD (GVHD), the organ system where GVHD is most frequently encountered and highly problematic. orBec® is currently being evaluated in a randomized, double-blind, placebo-controlled Phase 2 clinical trial for the prevention of acute GVHD after allogeneic hematopoietic cell transplantation (HCT) with myeloablative conditioning regimens.
The company anticipates completing phase II and releasing news on their findings for orBec’s ability to prevent GVHD by year end.
About Soligenix, Inc.
Soligenix, Inc. (Soligenix), formerly known as DOR BioPharma, Inc., is a late-stage biopharmaceutical company developing products to treat life-threatening side effects of cancer treatments and serious gastrointestinal diseases, and vaccines for certain bioterrorism agents. Soligenix’s lead product, orBec® (oral beclomethasone dipropionate or BDP), is a potent, locally acting corticosteroid being developed for the treatment of GI GVHD, a common and potentially life-threatening complication of hematopoietic cell transplantation. orBec® is currently the subject of a confirmatory Phase 3 clinical trial for the treatment of acute GI GVHD and an NIH-supported, Phase 2, randomized, double-blind, placebo-controlled trial in the prevention of acute GVHD. Soligenix also expects to begin an NIH-supported Phase 1/2 clinical trial of SGX201 in radiation enteritis in the second half of 2009. Additionally, Soligenix has a Lipid Polymer Micelle (LPM(TM)) drug delivery technology for the oral delivery of leuprolide for the treatment of prostate cancer and endometriosis.
Through its Biodefense Division, Soligenix is developing biomedical countermeasures pursuant to the Project BioShield Act of 2004. Soligenix’s lead biodefense product in development is a recombinant subunit vaccine called RiVax(TM) which is designed to protect against the lethal effects of exposure to ricin toxin. RiVax(TM) has been shown to be well tolerated and immunogenic in a Phase 1 clinical trial in normal volunteers. RiVax(TM) will also be the subject of a recent $9.4 million NIH grant received by the Company supporting development of new heat stable vaccines.
The full special alert on the company appears today at http://www.stockshaven.com/bullish-technical-breakout-alert-otcsngx-ob/
Disclosure: Long SNGX
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