Business
Soligenix Announces Recent Accomplishments And Third Quarter 2023 Financial Results
PRINCETON, N.J., Nov. 13, 2023 /PRNewswire/ -- Soligenix, Inc. (Nasdaq: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company focused on
About this update from Soligenix, Inc.
[{"type":"text","content":"PRINCETON, N.J., Nov. 13, 2023 /PRNewswire/ -- Soligenix, Inc. (Nasdaq: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need, announced today its recent accomplishments and financial results for the quarter ended September 30, 2023.\n\n \n \n \n \n \n \n\n \n\"We continue our collaborative discussions with the U.S. Food and Drug Administration (FDA) regarding the design of a second, confirmatory Phase 3 pivotal study evaluating HyBryte™ (synthetic hypericin sodium) in the treatment of cutaneous T-cell lymphoma (CTCL), where we successfully demonstrated statistically significant results in the first Phase 3 clinical trial,\" stated Christopher J. Schaber, PhD, President and Chief Executive Officer of Soligenix. \"We continue to actively enroll patients in the Phase 2a trial of SGX302 (synthetic hypericin sodium) for the treatment of mild-to-moderate psoriasis after demonstration of a clear biological signal in all five of the initial patients, with the majority recording an improvement in their PASI (psoriasis area and severity index) score. Under our Public Health Solutions business segment, we continue to advance our heat stable vaccine platform technology, ThermoVax®. Most recently, we successfully demonstrated two year stability of thermostabilized bivalent and trivalent filovirus vaccine candidates at temperatures of 40 degrees Celsius (104 degrees Fahrenheit) when formulated in a single vial, needing reconstitution only with sterile water immediately prior to use. This follows the previous successful demonstration of 100% protection of non-human primates against lethal Sudan ebolavirus and Marburg marburgvirus challenge with the bivalent vaccine.\"\nDr. Schaber continued, \"With approximately $10.3 million in cash at September 30, 2023, not including our non-dilutive government funding, we are managing cash burn very carefully in order to achieve our near-term milestones. We continue to evaluate a number of strategic options, including but not limited to, partnership and merger and acquisition opportunities.\" \nFinancial Results – Quarter Ended September 30, 2023\nSoligenix's revenues for the quarters ended September 30, 2023 were $0.1 million as compared to $0.2 million for the quarter ended S...