The first half of 2020 was a milestone filled season for Soligenix that may set the stage for transformational growth in 2021. In addition to statistically significant data from its SGX301 trial, Soligenix (NasdaqGS: SNGX) is nearing the completion of a second phase 3 trial, SGX942, targeting the treatment of oral mucositis in patients with head and neck cancer. That trial has completed patient enrollment after receiving positive recommendation from the DMC to enroll additional patients to maintain a 90% statistical power. Topline data is expected from that trial by the end of 2020. Notably, the company’s clinical and collaborative progress from assets and vaccine candidates within the company’s Public Health Solutions business segment is also earning headlines. It has the potential to position the company for substantial growth in the back half of the year.
A video update captures several of the recent milestones reached by the Soligenix team, including the company’s completion of its SGX301 Phase 3 trial that showed statistically significant topline results in treating CTCL. Other updates include information from the company’s second Phase 3 trial, SGX942, and its Public Health Solutions business segment.
Video Link: https://www.youtube.com/embed/AZ6Ugn725ME
Additional news from the company includes Chief Scientific Officer for Soligenix, Dr. Oreola Donini, who was featured at the Virtual Summit conference. She presented an overview of the company’s thermostabilized protein vaccine program. This platform is attracting significant attention by showing an ability to maintain a vaccine’s therapeutic potency even after exposure to temperatures as high as 40 degrees Celsius (104 degrees F). In particular, the stabilization technology is focused on the company’s RiVax® program. However, beyond showing promise to treat deadly ricin poisoning, the company is attracting interest in filling a potential niche opportunity to apply the thermostabilization technology to a COVID-19 vaccine candidate.
Soligenix announced expansion of its development collaboration with the University of Hawaii at Mānoa in pursuit of a heat-stable COVID-19 vaccine, called CiVax™. That followed a licensing agreement with Boston Scientific for its CoVaccine HT™ novel vaccine adjuvant in April. More headlines came when New Jersey Business Magazine noted in a June publication that the company’s vaccine candidates’ enhanced stability at elevated temperatures can lower the costs and logistical burdens associated with cold chain storage and distribution.
The company’s shares are now included in the Russell Microcap® Index, a listing that remains in place for one year and means automatic inclusion in the appropriate growth and value style indexes.
Bottom Line For 2020
With several programs in focus, the second half of the year positions Soligenix to build on the positive momentum from the past two years. It also puts Soligenix in an excellent spot to create value from potential near term catalysts. News is expected by the end of the year for its Phase 3 SGX942 trial as well as possible updates from its Public Health Solutions Business segment.
Soligenix trades on the NasdaqGS market under the symbol SNGX.
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