01.09.13

Worthless bioterror defense company in the news

Posted in Bioterrorism, Culture of Lickspittle, Ricin Kooks at 1:35 pm by George Smith

From the p.r. newswire:

Soligenix stock was on the rise again Tuesday, a day after it gained more than 14 per cent when it said it will submit a proposal for a potential multi-million dollar contract to develop its radiation therapy, OrbeShield.

Its stock closed at 80 cents on Monday, and was lately up by more than 11 per cent, changing hands at around 89 cents as of 1:25pm ET.

The Biomedical Advanced Research and Development Authority (BARDA) has called on the company to submit a full proposal for a potential multi-year, multi-million dollar contract to develop OrbeShield.

Ever since the beginning of the war on terror, Soligenix — once known as DOR Biopharma, has been kept alive solely by bioterror defense funding, most notably for a ricin vaccine. It has also been peddling its anti-radiation sickness nostrums, always called Orbesomethings, for the same period of time.

The company has never brought anything to market. In 2012 its stock fell into virtual worthlessness. Since then it has been kept alive by a value pumping maneuver (a reverse stock split that took 20 shares, then valued at a nickel a piece, and condensed them into one worth about eighty cents) and parasitic attachment to another biodefense funding stream.

Soligenix — from the archives. Keynsian job program digging holes and filling them back in. Or high button welfare workfare for a handful of lousy scientists? You decide.

2 Comments

  1. Chuck said,

    January 13, 2013 at 1:25 pm

    Orb-something?

    These guys should get to know the Steorn Orbo. Sounds like they have similar interests:

    http://en.wikipedia.org/wiki/Steorn

    Who knows? A merger might boost the stock price.

  2. George Smith said,

    January 14, 2013 at 12:27 pm

    Revenue: 1,000 pounds, net income, minus 1.8 million pounds. It couldn’t hurt.

    There’s actually a company in Pasadena like Soligenix. It’s called Neumedicines and has an office in one of the cheap business lot areas not too far from me. It’s being supported by a BARDA grant for an anti-radiation sickness nostrum.

    All these companies have the same thing in common. One wonders, other than the bosses, how they pay their employees after infrastructure costs.