Soligenix Inc.

Kurta Law is investigating broker recommendations of Soligenix, Inc. These shares were high risk, making them unsuitable for many investors. Unsuitable investments violate Regulation Best Interest, a securities industry regulation that requires investors to consider their client’s best interests before making recommendations. Brokerage firms must also perform their due diligence and evaluate a security’s risk before approving it for recommendation to its clients. The risks were clearly listed in the stock’s prospectus – the registration document that offerors file with the Securities and Exchange Commission (SEC): “An investment in our shares of common stock involves a high degree of risk.”  

If you believe you suffered investment losses due to broker fraud or misconduct, contact Kurta Law for a free case evaluation. Call (877) 600-00098 or email info@kurtalawfirm.com.  

The Offering  

The prospectus dated October 31, 2017, announced that Soligenix was offering 1,575,500 shares of common stock for $2.00 per share. As of April 16, 2024, shares of Soligenix sold for $0.47 per share.  

About Soligenix  

According to the prospectus, Soligenix is a late-stage biopharmaceutical company that focuses on developing and commercializing products to treat rare diseases.  

Risks Related to this Offering  

The following risks are identified in the prospectus. Brokers either knew or should have known about these risks.  

Stock Price Volatility  

Soligenix disclosed that its price had been highly volatile and may be volatile in the future due to a wide variety of factors. Various factors could affect its volatility, including:  

• Announcements on the results of clinical trials  
• Announcements of technological innovations by competitors  
• Developments or disputes concerning patents  
• Changes in government regulations  
• Adverse litigation  
• Failure of common stock to be listed or quoted on a public stock exchange  

Immediate Dilution  

The prospectus warns that upon purchasing, investors can expect an immediate dilution of $0.95 per share. If warrants or options are exercised in the future, stockholders will experience dilution and stock prices may decrease.  

Thinly Traded Stocks 

Stocks of Soligenix are “thinly traded,” meaning that the number of persons interested in purchasing the common stock at or near ask prices may be relatively small or nonexistent.  

Sale or Issuance of Common Stock to Lincoln Park Capital or Hy Biopharma May Affect the Price of Stocks 

Soligenix has entered into an additional purchase agreement with Lincoln Park Capital and an option agreement with Hy Biopharma. These agreements could cause the dilution of stock. The perception of the issuance agreements with the companies could also cause the price of the common stock to fall.  

Aegis Capital Corp. Underwriting     

Investors should know that Aegis Capital Corp. served as the underwriter for this offering. Underwriters take on risk in exchange for a fee, which could motivate certain investment banks to underwrite investments that pose too much risk for the average retail investor. Additionally, brokers may have conflicts of interest when they recommend shares that are underwritten by an affiliate of their brokerage firm.   

Kurta Law Can Help  

Contact Kurta Law today for a free case evaluation – keep in mind that you have a limited time to file a claim. Our attorneys do not collect a fee unless we win your case. If you have any questions, call (877) 600-0098 or email info@kurtalawfirm.com.