Aegis Capital has issued a ‘Buy’ rating and price target of $7 on shares of Soligenix, Inc.’s (NASDAQ: SNGX) stock. The analyst cites the recent approval by the FDA to advance a pivotal phase 3 clinical trial evaluating SGX942 for the treatment of oral mucositis in head and neck cancer (HNC) patients being treated with chemoradiation (CRT). Soligenix plans to initiate this study in the second quarter of 2017. The analyst also noted the company has recently reached important milestones in its development of a vaccine against ricin poisoning, with several data presentations from animal models.
For more information, visit www.soligenix.com
About Soligenix, Inc.
Soligenix is a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need. The company’s BioTherapeutics business segment is developing SGX301 as a novel photodynamic therapy utilizing safe visible light for the treatment of cutaneous T-cell lymphoma, a first-in-class innate defense regulator (IDR) technology, dusquetide (SGX942) for the treatment of oral mucositis in head and neck cancer, and 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 Vaccines/BioDefense business segment includes active development programs for RiVax®, a ricin toxin vaccine candidate, OrbeShield®, a GI acute radiation syndrome therapeutic candidate and SGX943, a therapeutic candidate for antibiotic resistant and emerging infectious disease. 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 with government grant and contract funding from the National Institute of Allergy and Infectious Diseases (NIAID) and the Biomedical Advanced Research and Development Authority (BARDA).
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