Welcome to our dedicated page for Soligenix news (Ticker: SNGX), a resource for investors and traders seeking the latest updates and insights on Soligenix stock.
Soligenix, Inc. (NASDAQ: SNGX) is a late-stage biopharmaceutical company headquartered in Princeton, New Jersey. The company is dedicated to developing and commercializing products that address unmet medical needs, particularly in the areas of inflammation, oncology, and biodefense. Soligenix operates through two business segments: Specialized BioTherapeutics and Public Health Solutions.
Under the Specialized BioTherapeutics segment, Soligenix focuses on rare disease treatments. Key projects include HyBryte™ (SGX301), a novel photodynamic therapy using synthetic hypericin for cutaneous T-cell lymphoma (CTCL). HyBryte™ has shown promising results in Phase 3 clinical trials and is on track for regulatory approvals in the United States and Europe. Other development programs include SGX302 for psoriasis, SGX942 for oral mucositis in head and neck cancer, and SGX945 for Behçet's disease.
The Public Health Solutions segment emphasizes vaccine development and biodefense. Notable projects include RiVax®, a ricin toxin vaccine candidate, and thermostable vaccine candidates for filoviruses such as Marburg and Ebola. These vaccines are developed using the company's proprietary heat stabilization platform technology, ThermoVax®. Soligenix has also been active in developing CiVax™, a vaccine candidate for COVID-19.
Recent achievements include additional patents for their trivalent filovirus vaccine platform and positive clinical trial results for HyBryte™. Financially, the company reported a net loss for the quarter ended March 31, 2024, but successfully raised $4.75 million through a public offering. Soligenix has also secured significant non-dilutive government funding to support its various development programs.
Partnerships with esteemed institutions like the University of Hawaiʽi at Mānoa and funding from organizations such as the National Institute of Allergy and Infectious Diseases (NIAID) and the Biomedical Advanced Research and Development Authority (BARDA) further bolster Soligenix's research and development efforts. With a robust pipeline and strategic collaborations, Soligenix aims to deliver significant long-term value to its shareholders and address critical healthcare needs globally.
Soligenix (Nasdaq: SNGX) has received conditional acceptance from the U.S. FDA for the brand name HyBryte™ for its novel treatment SGX301, intended for early-stage cutaneous T-cell lymphoma (CTCL). This milestone supports Soligenix's goal of U.S. commercialization, with plans to submit a rolling new drug application in Q2 2021. SGX301 has been designated as an Orphan Drug and received Fast Track designations from the FDA, emphasizing its potential impact on patients with this rare disease.
Soligenix, Inc. (Nasdaq: SNGX) reported its 2020 financial results, revealing revenues of $2.4 million, down from $4.6 million in 2019. The company experienced a net loss of $17.7 million, a significant increase due to high R&D costs related to its Phase 3 clinical trials for SGX301 and SGX942. Soligenix successfully completed the Phase 3 FLASH trial for SGX301, paving the way for a rolling NDA submission in 2Q 2021. With over $30 million in cash and non-dilutive funding, the firm is poised for growth, targeting over $90 million in U.S. annual net sales for SGX301, amid partnerships for expanding its market reach.
Soligenix, Inc. (Nasdaq: SNGX) announced preliminary approval for a tax credit from the New Jersey Economic Development Authority, allowing the transfer of approximately $865,000 in net proceeds. This program enables biotechnology firms to convert unused Net Operating Loss Carryovers and R&D Tax Credits into cash. Over 11 years, Soligenix has received about $6.5 million in such funding, supporting its rare disease pipeline. The company is preparing to submit a rolling NDA for SGX301, its first-in-class therapy for cutaneous T-cell lymphoma, projected to achieve annual sales exceeding $90 million.
Soligenix, Inc. (Nasdaq: SNGX) announced positive progress in pre-clinical studies for its COVID-19 vaccine candidate, CiVax™, highlighting confirmed broad-spectrum immunity through its full-length Spike protein antigens. Research published on bioRxiv shows the vaccine's potential for rapid distribution without cold chain requirements, supported by a $1.5M SBIR grant. Collaborative efforts with the University of Hawaiʻi aim to evaluate immunogenicity in future non-human primate models while addressing logistical challenges in global vaccine distribution.
Soligenix, Inc. (SNGX) provided a corporate update highlighting a positive Phase 3 study of SGX301 for cutaneous T-cell lymphoma, with plans for a new drug application (NDA) submission. The company also reported promising preclinical results for its heat-stable COVID-19 vaccine candidate, CiVax™, while maintaining a strong cash position of over $30 million to support growth. Notably, SGX301's U.S. peak annual sales could exceed $90 million. However, disappointing results from SGX942's Phase 3 trial for oral mucositis raised concerns, as it did not meet statistical significance despite showing biological activity.
Soligenix, Inc. (Nasdaq: SNGX) announced that its CEO, Christopher J. Schaber, PhD, will present at the BIO CEO & Investor Digital Conference from February 16-18, 2021. The presentation will be available for on-demand viewing starting February 15 at 9:00 AM EST. Soligenix is advancing its drug application for SGX301, a treatment for cutaneous T-cell lymphoma, following a successful Phase 3 study. The conference offers an opportunity for one-on-one meetings with management, focusing on the company's rare disease pipeline and potential partnerships.
Soligenix, Inc. (Nasdaq: SNGX) announced the Hong Kong Registrar of Patents granted a patent for the therapeutic use of synthetic hypericin in treating cutaneous T-cell lymphoma (CTCL). The patent, published on January 29, 2021, enhances Soligenix's patent estate, protecting synthetic hypericin and its therapeutic methods. SGX301, a first-in-class photodynamic therapy, demonstrated a statistically significant treatment response in a pivotal Phase 3 study. CEO Christopher J. Schaber emphasized the potential for marketing approval and commercialization while pursuing global partnership opportunities.
Soligenix (Nasdaq: SNGX) announced an Investor Webcast Event on January 26, 2021, to discuss U.S. commercialization planning for SGX301, a novel photodynamic therapy for early-stage Cutaneous T-Cell Lymphoma (CTCL). SGX301 demonstrated a statistically significant treatment response in the Phase 3 FLASH trial after just 6 weeks (p=0.04) compared to placebo. Continued treatment improved outcomes, with 40% response in the second cycle. SGX301 was well tolerated, showing no mutagenic risks. The event will include insights from leading experts and management.
Soligenix, Inc. (SNGX) has entered an exclusive Supply, Distribution and Services Agreement with Daavlin for the SGX301 light device, aimed at treating cutaneous T-cell lymphoma (CTCL). This partnership is pivotal for the commercialization strategy of SGX301 upon FDA approval. Daavlin, with a 40-year history in phototherapy, will manufacture the device, while Soligenix will promote and facilitate purchases of the product. Both companies emphasize the integration of drug and device in achieving operational excellence for patient care.
Soligenix, Inc. (SNGX) received a $1.5 million Direct to Phase II SBIR grant from NIAID to support the development of COVID-19 and Ebola vaccine candidates. The funding will enhance the evaluation and manufacturing of the CiVax™ vaccine, known for its heat-stability and ability to induce a robust immune response. The grant aims to facilitate immunogenicity studies in animal models, leveraging the unique properties of the CoVaccine HT™ adjuvant. This initiative aligns with the growing global demand for diverse vaccination solutions amidst the ongoing pandemic.
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