Soligenix stock surges 50% after positive Phase 2a study results for Behçet’s Disease treatment

Soligenix (SNGX) stock surged 52.8% on Thursday after announcing positive results from its Phase 2a proof-of-concept study for SGX945, a treatment for Behçet's Disease. The company found a 40% improvement rate after four weeks compared to a Phase 3 apremilast study. Heavy trading volume of 52 million shares was seen, with one analyst recommending a buy rating and a 380% upside potential.

Soligenix Inc. (SNGX) stock surged by 52.8% on Thursday following the announcement of positive results from its Phase 2a proof-of-concept study for SGX945, a potential treatment for Behçet's Disease. The study, which evaluated dusquetide (SGX945) in patients with mild to moderate Behçet's Disease, demonstrated a 40% improvement in oral ulcers compared to placebo after four weeks of treatment. This improvement was sustained even after treatment cessation, indicating a durable biological effect.

The study, an open-label trial, was designed to be highly comparable to the previously published Phase 3 study of apremilast (Otezla), an approved treatment for oral ulcers associated with Behçet's Disease. Dusquetide showed similar results to apremilast in reducing oral ulcers, pain, and ulcer duration. Notably, dusquetide treatment did not result in any adverse effects, such as nausea or diarrhea, which are common with apremilast.

Soligenix plans to reformulate SGX945 for home-based treatment using subcutaneous injection and expand its use in other inflammatory conditions. The company aims to conduct a placebo-controlled Phase 2 study to further validate the promising initial results and establish the efficacy profile of SGX945 in Behçet's Disease.

The stock's performance was driven by heavy trading volume, with 52 million shares changing hands. One analyst recommended a buy rating, predicting a 380% upside potential.

References:
[1] https://www.dermatologytimes.com/view/soligenix-reports-positive-phase-2a-data-in-beh-et-s-disease
[2] https://www.stocktitan.net/news/SNGX/biological-efficacy-demonstrated-in-a-phase-2-clinical-trial-of-ybrmt1wzku7h.html
[3] https://www.marketscreener.com/news/soligenix-inc-biological-efficacy-demonstrated-in-a-phase-2-clinical-trial-of-sgx945-for-the-tre-ce7c5fd3d988f022