SOLIGENIX INC. + DOR Biopharma =
28.02.12 10:03
#1
Hornissen
SOLIGENIX INC. + DOR Biopharma =
Yes, it is normal for a tiny biotech stock but it also happens with bigger biotech stocks and in other sectors too. Declines of 35-55%a day are not so rare when news are very bad, but 80% is something bigger and must be looked at. What happened?
PRINCETON, N.J., Sept. 15, 2011 /PRNewswire/ -- Soligenix, Inc. (OTCBB: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company, announced that an independent Data Safety Monitoring Board (DSMB) recently completed a pre-specified interim analysis for safety and futility for Soligenix's confirmatory Phase 3 clinical trial of orBec® an oral formulation of beclomethasone dipropionate (BDP) in acute gastrointestinal Graft-versus-Host disease (GI GVHD).
The DSMB recommended that the study be stopped as it is highly unlikely to achieve the predetermined primary objective of efficacy based on the interim results. No safety concerns were raised. As a result of the DSMB's recommendation, patient enrollment in the study will stop and the data will be analyzed.
About:
Soligenix, Inc. is a late-stage research and development biopharmaceutical company focused on developing products to treat the life-threatening side effects of cancer treatment and serious gastrointestinal diseases where there remains an unmet medical need, as well as developing biodefense vaccines and therapeutics. The Company maintains two business segments: BioTherapeutics and BioDefense. Its BioTherapeutics business segment focuses to develop oral beclomethasone dipropionate (orBec or oral BDP) and other biotherapeutic products, including LPMTM Leuprolide. Its BioDefense business segment focuses to convert its ricin toxin vaccine and radiation injury program from early stage development to advanced development and manufacturing.
Numbers:
Market Cap 12M $
Sales 2.4M $
EBIT 7.6M $ (in the last decade company lost about 68M $, that's why you must ask why they were given so much money if they never made any money? Somebody believed in their pipeline and the fact that yesterday's news were terrible, it doesn't say that the company is dead as a business or will never have another successful Phase 1,2,3 trial with ready product.)
Cash 4.1M $
LT Debt $0 (they never had debt, I like people who don't depend on the banks or senior debt holders and other free raiders Buffett style, when you don't own anything to anybody you are free to do amazing things in business as well)
Shares Outstanding 221,000,000
Float 160,000,000
Major Shareholders:
BAM Capital LLC 20,000,000 shares through BIOTEX Pharma LLC in fact all this holdings in the end must be connected to company insiders, it's just a structure different but owner is the same, believe me not only shareholders lost, insiders lost much more as they have a significant stake here as well)
There are other 950 private shareholders as well, most of them remain probably from times of DOR BioPharma Inc. when it was delisted from AMEX.
Dumont & Blake Investment Advisors LLC 20,000 shares HA;-) one fund has 1,000 more times shares than the other
Employees 15
Assets 9.3M $
Liabilities 1.9M $
Resume: From the standpoint of what happened already in a history of DOR BioPharma Inc. stock, which was already delested once, it doesn't say this is a great stock to own. Latest news are also not promising at all, and management gets too high compensation considering they were not able to show investors how they deserve this kind of high pay. Now on the balance sheet side it's a deep value stock as they have no debt, more assets than liabilities (even if some assets will be written off which is likely after current failure, still their other assets will be greater than liabilities). Very low stock price compared to history like 95% off, on one side this can be called The End but their financials don't say it at all.
Another thing is they received 5.16M $ in Uttributed funding just 1Y ago, why somebody would give it to them?
Soligenix Announces Private Equity Financing of $5.16 Million with its Partner Sigma-Tau and other Institutional Investors
Princeton, NJ – June 16, 2010 – Soligenix, Inc. (OTC Bulletin Board: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company, announced today that it has entered into common stock purchase agreements with both existing and new investors totaling approximately $5.16 million. Soligenix’s North American commercial partner, Sigma-Tau Pharmaceuticals, Inc., participated in this financing.
Upon closing of the private placement, Soligenix will issue approximately 25,178,180 shares of common stock and warrants to purchase up to approximately 15,106,910 shares of Soligenix common stock for an aggregate price of approximately $5.16 million. The expiration date of the warrants will be accelerated if the Company's common stock meets certain price thresholds and Soligenix would receive additional gross proceeds of approximately $4.23 million if all are exercised. National Securities Corporation and Griffin Securities, Inc. served as co-placement agents on the financing.
“We are pleased with this vote of confidence and continued support from our partner Sigma-Tau and the institutional investors in what are obviously challenging market conditions,” stated Christopher J. Schaber, PhD, President and Chief Executive Officer of Soligenix. “With a strengthened balance sheet, our top priority remains the completion of our confirmatory Phase 3 trial of orBec® in the treatment of acute GI GVHD, an important unmet medical need.”
The Company's common stock will be sold to accredited investors in a private placement in reliance on an exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The shares will not be registered under the Securities Act or any state securities laws, and the shares may not be offered or sold by the investors absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. In connection with the offering, Soligenix has agreed to file a registration statement under the Securities Act covering the resale of the shares purchased within 7 business days after the closing of the transaction. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy shares and is being issued under Rule 135c under the Securities Act.
Well, yesterday this investors bailed out as 57,175,393 shares traded in 2,571 transactions it's like 22,238 shares per trade. Somebody left but somebody also took all this shares and placed then in the pocket, don't forget that just 1 day before the crash this shares were worth 16M $ and now only 3M $. Not so stupid contrarian trade.
I am not running to buy the stock big time but will rather act here as a market maker for now as there is a lot of interest in this stock which will persist and from uncertainty I hope to pocket the bid/ask difference. This will be a jumpy month same as maybe all 2011. You decide.
PRINCETON, N.J., Sept. 15, 2011 /PRNewswire/ -- Soligenix, Inc. (OTCBB: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company, announced that an independent Data Safety Monitoring Board (DSMB) recently completed a pre-specified interim analysis for safety and futility for Soligenix's confirmatory Phase 3 clinical trial of orBec® an oral formulation of beclomethasone dipropionate (BDP) in acute gastrointestinal Graft-versus-Host disease (GI GVHD).
The DSMB recommended that the study be stopped as it is highly unlikely to achieve the predetermined primary objective of efficacy based on the interim results. No safety concerns were raised. As a result of the DSMB's recommendation, patient enrollment in the study will stop and the data will be analyzed.
About:
Soligenix, Inc. is a late-stage research and development biopharmaceutical company focused on developing products to treat the life-threatening side effects of cancer treatment and serious gastrointestinal diseases where there remains an unmet medical need, as well as developing biodefense vaccines and therapeutics. The Company maintains two business segments: BioTherapeutics and BioDefense. Its BioTherapeutics business segment focuses to develop oral beclomethasone dipropionate (orBec or oral BDP) and other biotherapeutic products, including LPMTM Leuprolide. Its BioDefense business segment focuses to convert its ricin toxin vaccine and radiation injury program from early stage development to advanced development and manufacturing.
Numbers:
Market Cap 12M $
Sales 2.4M $
EBIT 7.6M $ (in the last decade company lost about 68M $, that's why you must ask why they were given so much money if they never made any money? Somebody believed in their pipeline and the fact that yesterday's news were terrible, it doesn't say that the company is dead as a business or will never have another successful Phase 1,2,3 trial with ready product.)
Cash 4.1M $
LT Debt $0 (they never had debt, I like people who don't depend on the banks or senior debt holders and other free raiders Buffett style, when you don't own anything to anybody you are free to do amazing things in business as well)
Shares Outstanding 221,000,000
Float 160,000,000
Major Shareholders:
BAM Capital LLC 20,000,000 shares through BIOTEX Pharma LLC in fact all this holdings in the end must be connected to company insiders, it's just a structure different but owner is the same, believe me not only shareholders lost, insiders lost much more as they have a significant stake here as well)
There are other 950 private shareholders as well, most of them remain probably from times of DOR BioPharma Inc. when it was delisted from AMEX.
Dumont & Blake Investment Advisors LLC 20,000 shares HA;-) one fund has 1,000 more times shares than the other
Employees 15
Assets 9.3M $
Liabilities 1.9M $
Resume: From the standpoint of what happened already in a history of DOR BioPharma Inc. stock, which was already delested once, it doesn't say this is a great stock to own. Latest news are also not promising at all, and management gets too high compensation considering they were not able to show investors how they deserve this kind of high pay. Now on the balance sheet side it's a deep value stock as they have no debt, more assets than liabilities (even if some assets will be written off which is likely after current failure, still their other assets will be greater than liabilities). Very low stock price compared to history like 95% off, on one side this can be called The End but their financials don't say it at all.
Another thing is they received 5.16M $ in Uttributed funding just 1Y ago, why somebody would give it to them?
Soligenix Announces Private Equity Financing of $5.16 Million with its Partner Sigma-Tau and other Institutional Investors
Princeton, NJ – June 16, 2010 – Soligenix, Inc. (OTC Bulletin Board: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company, announced today that it has entered into common stock purchase agreements with both existing and new investors totaling approximately $5.16 million. Soligenix’s North American commercial partner, Sigma-Tau Pharmaceuticals, Inc., participated in this financing.
Upon closing of the private placement, Soligenix will issue approximately 25,178,180 shares of common stock and warrants to purchase up to approximately 15,106,910 shares of Soligenix common stock for an aggregate price of approximately $5.16 million. The expiration date of the warrants will be accelerated if the Company's common stock meets certain price thresholds and Soligenix would receive additional gross proceeds of approximately $4.23 million if all are exercised. National Securities Corporation and Griffin Securities, Inc. served as co-placement agents on the financing.
“We are pleased with this vote of confidence and continued support from our partner Sigma-Tau and the institutional investors in what are obviously challenging market conditions,” stated Christopher J. Schaber, PhD, President and Chief Executive Officer of Soligenix. “With a strengthened balance sheet, our top priority remains the completion of our confirmatory Phase 3 trial of orBec® in the treatment of acute GI GVHD, an important unmet medical need.”
The Company's common stock will be sold to accredited investors in a private placement in reliance on an exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The shares will not be registered under the Securities Act or any state securities laws, and the shares may not be offered or sold by the investors absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. In connection with the offering, Soligenix has agreed to file a registration statement under the Securities Act covering the resale of the shares purchased within 7 business days after the closing of the transaction. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy shares and is being issued under Rule 135c under the Securities Act.
Well, yesterday this investors bailed out as 57,175,393 shares traded in 2,571 transactions it's like 22,238 shares per trade. Somebody left but somebody also took all this shares and placed then in the pocket, don't forget that just 1 day before the crash this shares were worth 16M $ and now only 3M $. Not so stupid contrarian trade.
I am not running to buy the stock big time but will rather act here as a market maker for now as there is a lot of interest in this stock which will persist and from uncertainty I hope to pocket the bid/ask difference. This will be a jumpy month same as maybe all 2011. You decide.