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Soligenix Inc. (SNGX-5.20%) has submitted its Annual Report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines Soligenix's focus on developing and commercializing products to treat rare diseases with unmet medical needs, through its two business segments: Specialized BioTherapeutics and Public Health Solutions.
The Specialized BioTherapeutics segment is advancing HyBryte™, a novel photodynamic therapy for cutaneous T-cell lymphoma (CTCL), with a second Phase 3 study underway and results anticipated in the second half of 2026.
The Public Health Solutions segment includes development programs for RiVax®, a ricin toxin vaccine candidate, and SGX943, a therapeutic candidate for antibiotic-resistant and emerging infectious diseases.
Soligenix reported a net loss of $8,266,576 for the year ended December 31, 2024, compared to a net loss of $6,140,730 for the previous year, primarily due to increased research and development expenses.
Revenues for the year were $119,371, a decrease from $839,359 in 2023, attributed to the conclusion of certain grants and reduced reimbursable development activity.
The company continues to pursue additional funding through government grants, equity offerings, and strategic partnerships to support its ongoing development programs.
Soligenix's financial condition as of December 31, 2024, included cash and cash equivalents of $7,819,514 and working capital of $3,980,218.
The company has outlined plans to secure additional capital and funding to address substantial doubt about its ability to continue as a going concern beyond 2025.
Soligenix's management remains focused on advancing its pipeline of product candidates and exploring strategic alternatives, including potential mergers and acquisitions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Soligenix Inc. annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.