How to interpret SNGX's earnings trend in 2023-2024?

Soligenix (SNGX) has consistently experienced a decline in net income over the past year, with the most recent quarter reporting a $2.99 million loss. This trend suggests that the company is facing significant challenges, and its financial performance is currently under pressure. |code|Ticker|Name|Date|Net Income YoY|Net Income|market_code| |---|---|---|---|---|---|---| |SNGX|SNGX.O|Soligenix|2023 Q1|75.94610373231126|-1046109|186| |SNGX|SNGX.O|Soligenix|2023 Q2|32.45973621143307|-1612024|186| |SNGX|SNGX.O|Soligenix|2023 Q3|49.75217610863453|-1662702|186| |SNGX|SNGX.O|Soligenix|2023 Q4|51.515430038989706|-1819895|186| |SNGX|SNGX.O|Soligenix|2024 Q1|-83.09057660339411|-1915327|186| |SNGX|SNGX.O|Soligenix|2024 Q2|-2.0147342719463235|-1644502|186| |SNGX|SNGX.O|Soligenix|2024 Q3|-3.408848969929669|-1719381|186| |SNGX|SNGX.O|Soligenix|2024 Q4|-64.15045922979074|-2987366|186|