Wainwright likes Soligenix, sees a four-bagger; shares ahead 29%

|About: Soligenix, Inc. (SNGX)|By:, SA News Editor

Thinly traded nano cap Soligenix (SNGX +28.7%) is up on a whopping 46x surge in volume. Earlier today, H.C. Wainwright initiated coverage with a Buy rating and $11 price target.

The company has three programs in late-stage development: SGX301, a topical photosensitizing agent for the treatment of cutaneous T-cell lymphoma, SGX203, an orally available steroid for the treatment of pediatric Crohn's disease and SGX942, a synthetic peptide for the treatment of chemoradiation-associated oral mucositis.

Three programs have Fast Track status in the U.S.: SGX942, ricin toxin vaccine RiVax and OrbeShield, an orally administered steroid for GI acute radiation syndrome.