On August 14, 2025 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, reported its recent accomplishments and financial results for the quarter ended June 30, 2025 (Press release, Soligenix, AUG 14, 2025, View Source [SID1234655316]).
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"As we quickly approach the latter part of 2025 into 2026, the Company remains confident about its late-stage rare disease pipeline and upcoming key development milestones," stated Christopher J. Schaber, PhD, President and Chief Executive Officer of Soligenix. "These include top-line results from our Phase 2a clinical trial in mild-to-moderate psoriasis with SGX302 (synthetic hypericin) before yearend, as well as continued clinical update for the ongoing investigator-initiated study (IIS) evaluating extended HyBryte (synthetic hypericin) treatment for up to 54 weeks in patients with early-stage cutaneous T-cell lymphoma (CTCL). Further, we anticipate top-line results in 2026 from our actively enrolling confirmatory Phase 3 study of HyBryte (synthetic hypericin) for early-stage CTCL, where we plan to provide an enrollemt update later this year. Recently, we were also pleased to announce the successful completion of our Phase 2a proof of concept study evaluating SGX945 (dusquetide) in the treatment of Behçet’s Disease having achieved the study objective of demonstrating biological efficacy in this difficult to treat chronic disease."
Dr. Schaber continued, "With approximately $5.1 million in cash at June 30, 2025, exclusive of approximately $1.4 million of net cash received via our At-The-Market ("ATM") facility on July 1, 2025, we’re focused on carefully allocating resources to hit our strategic goals and upcoming milestones. While this cash balance provides sufficient operating runway through the first quarter of 2026, we continue to evaluate all strategic options, including partnership, merger and acquisition, government grants, and potential financing opportunities to advance our late-stage pipeline and the Company."
Soligenix Recent Accomplishments
On July 31, 2025, the Company announced that it had completed its Phase 2a proof of concept study evaluating SGX945 (dusquetide) in the treatment of Behçet’s Disease and achieved the study objective of demonstrating biological efficacy. To view this press release, please click here.
On July 8, 2025, the Company issued a shareholder update letter, detailing the important and potentially transformational development milestones. To view this letter, please click here.
On July 1, 2025, the Company announced it had successfully completed the transfer of the manufacturing process for its synthetic hypericin active ingredient from Europe to the United States under its partnership agreement with Sterling Pharma Solutions. To view this press release, please click here.
Financial Results – Quarter Ended June 30, 2025
Soligenix reported no revenue for the quarter ended June 30, 2025, consistent with comparable de minimis revenue during the same period of 2024.
Soligenix’s net loss was $2.7 million, or ($0.82) per share, for the quarter ended June 30, 2025, compared to $1.6 million, or ($1.31) per share, for the quarter ended June 30, 2024. This increase in net loss was primarily due to an increase in operating expenses related to ongoing clinical trials and a decrease in other income attributable to the change in the fair value of debt during the three months ended June 30, 2024 with no corresponding change in fair value during the three months ended June 30, 2025.
Research and development expenses were $1.7 million for the quarter ended June 30, 2025 as compared to $0.5 million for the same period in 2024. The increase was primarily due to costs associated with the Phase 2a study in Behçet’s Disease and the second confirmatory Phase 3 CTCL trial as well as increases in third party manufacturing.
General and administrative expenses were $1.1 million for the quarter ended June 30, 2025 as compared to $1.2 million for the same period in 2024. The decrease was primarily attributable to decreases in professional expenses.
As of June 30, 2025, the Company’s cash position was approximately $5.1 million, exclusive of approximately $1.4 million of net cash received via its ATM facility on July 1, 2025.