BioMedNewsBreaks — Soligenix Inc. (NASDAQ: SNGX) Closes $7.5 Million Public Offering to Extend Cash Runway Through 2026

Soligenix (NASDAQ: SNGX), a late-stage biopharmaceutical company focused on treatments for rare diseases, announced the closing of its $7.5 million public offering of 5,555,560 shares of common stock and accompanying warrants at $1.35 per share, with proceeds intended to fund R&D, commercialization, working capital, and general corporate purposes; the financing, which included participation from existing and institutional healthcare investors, also amends prior warrants to a $1.35 exercise price and extends the company’s cash runway through the end of 2026.

To view the full press release, visit https://ibn.fm/7omvV

About Soligenix

Soligenix is a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need. Our Specialized BioTherapeutics business segment is developing and moving toward potential commercialization of HyBryte(TM) (SGX301 or synthetic hypericin sodium) as a novel photodynamic therapy utilizing safe visible light for the treatment of cutaneous T-cell lymphoma (CTCL). With successful completion of the second Phase 3 study, regulatory approvals will be sought to support potential commercialization worldwide. Development programs in this business segment also include expansion of synthetic hypericin (SGX302) into psoriasis, our first-in-class innate defense regulator (IDR) technology, dusquetide (SGX942) for the treatment of inflammatory diseases, including oral mucositis in head and neck cancer, and (SGX945) in Behcet’s Disease.

Our Public Health Solutions business segment includes development programs for RiVax(R), our ricin toxin vaccine candidate, as well as our vaccine programs targeting filoviruses (such as Marburg and Ebola) and CiVax(TM), our vaccine candidate for the prevention of COVID-19 (caused by SARS-CoV-2). The development of our vaccine programs incorporates the use of our proprietary heat stabilization platform technology, known as ThermoVax(R). To date, this business segment has been supported with government grant and contract funding from the National Institute of Allergy and Infectious Diseases (NIAID), the Defense Threat Reduction Agency (DTRA) and the Biomedical Advanced Research and Development Authority (BARDA).

NOTE TO INVESTORS: The latest news and updates relating to SNGX are available in the company’s newsroom at https://ibn.fm/SNGX

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