Soligenix, Inc. - SNGX STOCK NEWS

Soligenix has submitted a Type A Meeting Request to the FDA for discussions on a second Phase 3 study of HyBryte™ (SGX301) for treating cutaneous T-cell lymphoma (CTCL). This follows significant success in the initial Phase 3 FLASH trial, where 16% of patients treated with HyBryte™ showed at least a 50% reduction in lesions compared to 4% for the placebo (p=0.04). The FDA has classified the meeting as high priority, expected within approximately 30 days. HyBryte™ utilizes synthetic hypericin and visible light, posing a safer alternative to conventional treatments by avoiding DNA damage. The company anticipates alignment with the FDA on a pivotal study design to expedite further development of this promising treatment.

Soligenix, Inc. (NASDAQ: SNGX) announced a Type A Meeting with the FDA regarding its NDA for HyBryte™ aimed at treating cutaneous T-cell lymphoma (CTCL). The FDA previously issued a refusal to file (RTF) letter, necessitating positive results from an additional clinical study alongside the Phase 3 FLASH study. Soligenix plans to work closely with the FDA to define the protocol for this new trial. The FLASH study showed statistically significant results, with a 16% response rate for HyBryte™ versus 4% for placebo. HyBryte™ is a photodynamic therapy using synthetic hypericin sodium and has received orphan drug and fast track designations. The additional study requirements mark a setback for the company, but leadership remains committed to advancing the treatment for patients with CTCL.

Soligenix (NASDAQ: SNGX) announced the approval of the nonproprietary name "hypericin sodium" by the USAN Council for its active ingredient in HyBryte™ (SGX301) and SGX302. This novel compound is designed for treating cutaneous T-cell lymphoma (CTCL) and mild-to-moderate psoriasis. In clinical trials, HyBryte™ showed a 58.3% response rate in CTCL and an 80% response in psoriasis. However, an NDA for CTCL is facing an FDA Refusal to File (RTF) due to completeness issues. A Type A meeting with the FDA is scheduled to clarify the RTF concerns. The company continues to pursue further development in psoriasis with SGX302.

Soligenix, Inc. (Nasdaq: SNGX) has announced that the FDA has granted a Type A meeting to discuss the refusal to file letter concerning the NDA for HyBryte™ (synthetic hypericin), aimed at treating cutaneous T-cell lymphoma (CTCL). The meeting is anticipated to provide clarity on the issues raised in the RTF letter. The company emphasizes the significant results obtained in the Phase 3 FLASH trial, where HyBryte™ demonstrated a 16% response rate in reducing lesions. Additionally, HyBryte™ is noted for its safety profile, being a non-DNA damaging treatment. An update is expected by the end of April.

Soligenix, Inc. (SNGX) reported its financial results for the year ending December 31, 2022, showing revenues of $0.9 million compared to $0.8 million in 2021. The company faced a net loss of $13.8 million or ($4.81) per share, up from $12.6 million or ($4.69) per share in the previous year. Key developments include a Type A FDA meeting regarding its HyBryte™ NDA for treating early-stage cutaneous T-cell lymphoma and the expansion of synthetic hypericin (SGX302) into psoriasis trials. The cash position was approximately $13.4 million at year-end, indicating managed cash burn to reach near-term goals.

Soligenix, Inc. (SNGX) has submitted a Type A Meeting Request to the U.S. FDA to discuss a refusal to file letter related to its NDA for HyBryte™ (synthetic hypericin) for treating cutaneous T-cell lymphoma (CTCL). This meeting is anticipated within 30 days of the FDA's receipt of the request. The Phase 3 FLASH trial showed statistically significant results, with 16% of HyBryte™ patients achieving a 50% lesion reduction compared to 4% in the placebo group. HyBryte™ utilizes safe, visible light for treatment, avoiding risks associated with traditional therapies. Soligenix is advancing regulatory approval and commercialization efforts for HyBryte™.

Soligenix announced it received a Refusal to File (RTF) letter from the FDA regarding its HyBryte™ new drug application for treating cutaneous T-cell lymphoma (CTCL). The FDA stated that the submission was incomplete for substantive review. Soligenix plans to request a Type A meeting with the FDA to address concerns and discuss the resubmission process. HyBryte™, utilizing synthetic hypericin, has previously shown promising results in clinical trials, with 16% of patients achieving significant lesion reduction. The company remains focused on advancing this treatment option despite the setback.

Soligenix, Inc. (NASDAQ: SNGX) announced a reverse stock split, effective February 9, 2023, at a ratio of 1-for-15. This move reduces the outstanding shares from approximately 43.3 million to about 2.9 million, maintaining stockholder percentage interests except for fractional shares. Trading on a split-adjusted basis begins on February 10, 2023. Shareholders approved the split at a special meeting on February 8, granting the Board discretion to set the ratio between 1-for-2 to 1-for-20. The new CUSIP number for the common stock is 834223505. The company is focused on rare disease therapeutics and vaccine development.