Harbinger Times

Soligenix, on Thursday, announced that it has received approximately $840,000, net of transaction costs, in non-dilutive financing via the state of New Jersey’s Technology Business Tax Certificate Transfer Program. To date, Soligenix (NasdaqGS: SNGX) said that the program has provided approximately $5.6 million to the company.

The NJ funding will add to a balance sheet that is contributing toward the potential approval of two Phase 3 drugs, SGX301 and SGX942. In April, Soligenix reported positive topline data for SGX301 that is targeting the treatment of cutaneous T-cell lymphoma. That update demonstrated that SGX301 shows continued efficacy when measured at its six and twelve-week follow-up.

The twelve-week results demonstrated statistically significant results with an extraordinary p< 0.0001 measurement.

Soligenix Business Segments Provide Diversity In Pipeline

The positive data from the company’s Phase 3 FLASH trial comes from the company’s Specialized BioTherapeutics business segment that focuses on products to treat rare diseases where there is an unmet medical need. In addition to SGX301 that is targeting CTCL, Soligenix is advancing its Phase 3 trial evaluating dusquetide, SGX942, for the treatment of oral mucositis in head and neck cancer. The company is also developing proprietary formulations of oral beclomethasone 17,21-dipropionate (BDP) for the prevention/treatment of gastrointestinal (GI) disorders characterized by severe inflammation including pediatric Crohn’s disease (SGX203) and acute radiation enteritis (SGX201).

The company’s Public Health Solutions business segment includes active development programs for RiVax®, its ricin toxin vaccine candidate. The company is also evaluating SGX943 as a therapeutic candidate for antibiotic resistant and emerging infectious disease. Additional programs in the segment include research programs to identify and develop novel vaccine candidates targeting viral infection, including Ebola, Marburg, and SARS-CoV-2 (the cause of COVID-19).

The development of the vaccine programs incorporates the use of the company’s proprietary heat stabilization platform technology, known as ThermoVax®. To date, this business segment has been supported by government grants and contract funding from the National Institute of Allergy and Infectious Diseases (NIAID), the Defense Threat Reduction Agents (DTRA), and the Biomedical Advanced Research and Development Authority (BARDA).

Catalysts Expected In 2020

Near term catalysts may come from its data read for its SGX942 trial, which is expected to report in the second half of 2020. Recent announcements related to the potential of products from its Public Health Solutions segment is also keeping the company in focus.

In April, the company announced that it had executed an agreement for the exclusive worldwide license of CoVaccine HT™, a novel vaccine adjuvant, from BTG Specialty Pharmaceuticals, a division of Boston Scientific Corporation (NYSE: BSX), for the fields of SARS-CoV-2, the cause of COVID-19 and pandemic flu. According to that release, Soligenix and its collaborators, including the University of Hawaiʻi at Mānoa and Dr. Axel Lehrer, have successfully demonstrated the utility of CoVaccine HT in the development of its heat-stable filovirus vaccine program, with vaccine candidates against Ebola and Marburg virus disease. They noted that because of this previous success, CoVaccine HT will potentially be an important component of the company’s vaccine technology platform currently being assessed for use against coronaviruses, including SARS-CoV-2, the cause of COVID-19.

Soligenix is actively traded on the NasdaqGS market under the symbol SNGX.

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