Investigation Overview
An investigation on behalf of investors in shares of Soligenix, Inc. (NASDAQ: SNGX) was announced over potential breaches of fiduciary duties by certain officers and directors at Soligenix, Inc.
The investigation by a law firm concerns whether certain Soligenix, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
Princeton, NJ based Soligenix, Inc., a late-stage biopharmaceutical company, focuses on developing and commercializing products to treat rare diseases in the United States. Soligenix, Inc. reported that its annual Total Revenue declined from over $10.44 million in 2016 to over $5.43 million in 2017 and that its Net Loss increased from over $3.24 million in 2016 to over $7.14 million in 2017.
Shares of Soligenix, Inc. (NASDAQ: SNGX) declined to as low as $0.91 per share in June 2018.