Solingenix Inc (OTCBB:SNGX) Surges Once Again

[[tagnumber 0]][[tagnumber 1]]The beginning of the year was rather slow for the stock of Solingenix Inc (OTCBB:SNGX) and we didn’t see that much trading. The ticker was surging up the charts, but the positive movements were, unfortunately, followed by prolonged downward slides.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company stock currently holds a market cap of around $57 million which is not that much compared to other OTC entities that have much less to show in its balance sheet. Here is just a quick recap of the numbers contained in [[tagnumber 6]]SNGX’s[[tagnumber 7]] report for the first quarter of this year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $5 million[[tagnumber 13]] [[tagnumber 12]]current assets: $5.48 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $7.7 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $816 thousand[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $4.5 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Truly, those numbers are quite impressive, especially the fact that [[tagnumber 6]]SNGX[[tagnumber 7]] is one of the few OTC biotech companies that are actually generating decent revenues. The company’s stock is also being touted by Zacks Small Cap Research (ZSCR) and some other outlets. It underwent a paid promotional campaign in the final days of the past month that led it way above the $2 per share mark, but quickly returned below that level shortly afterwards.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This week started rather good for the ticker and we saw [[tagnumber 6]]SNGX[[tagnumber 7]] climb 18.52% in yesterday’s session. The 274 thousand shares that changed their owners in the six and a half hours of trading were enough to generate $577 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Although several outlets have set a price target of at least $5.5 per share, however, we see [[tagnumber 6]]SNGX[[tagnumber 7]] hesitating today. In any case, you should be sure to do your due diligence and weigh out the risks before putting any money on the line[[tagnumber 2]]