Soligenix reports Q2 financial results, confident on late-stage rare disease pipeline.

• Soligenix reports financial results for Q2 2025 • Confident in late-stage rare disease pipeline and upcoming milestones • Top-line results from Phase 2a clinical trial for SGX302 expected by year-end • Continued clinical update for HyBryte treatment in CTCL patients • Synthesis of hypericin data to support future digital data analytics

Soligenix Inc. (NASDAQ: SNGX), a late-stage biopharmaceutical company focused on developing and commercializing products for rare diseases, has reported its financial results for the second quarter of 2025. The company posted a net loss of $2.7 million, or $0.82 per share, compared to $1.6 million, or $1.31 per share, in the same period last year [1]. The increase in net loss was primarily due to higher research and development (R&D) expenses, which more than tripled to $1.7 million from $0.5 million year-over-year. This reflects intensified investment in clinical trials and manufacturing.

Soligenix's cash position as of June 30, 2025, was approximately $5.1 million, supplemented by an additional $1.4 million received via its At-The-Market (ATM) facility on July 1. This cash balance provides sufficient operating runway through the first quarter of 2026. However, the company's tight financial position is concerning given the capital-intensive nature of late-stage clinical development. Management is actively exploring strategic options including partnerships, mergers and acquisitions, government grants, and financing opportunities to advance its late-stage pipeline [2].

Despite the financial challenges, Soligenix reported meaningful progress across multiple programs. The company completed a Phase 2a proof-of-concept study for SGX945 in Behçet's Disease, achieving the study objective of demonstrating biological efficacy in this difficult-to-treat chronic disease [1]. Additionally, the company anticipates top-line results from its Phase 2a psoriasis trial with SGX302 before year-end 2025 and expects Phase 3 HyBryte™ CTCL study results in 2026 [2].

The successful transfer of synthetic hypericin manufacturing from Europe to the United States represents an operational achievement that could improve supply chain resilience and potentially reduce costs long-term [1]. The company's pipeline also includes the development of RiVax®, a ricin toxin vaccine candidate, and vaccine programs targeting filoviruses (such as Marburg and Ebola) and CiVax™, a vaccine candidate for the prevention of COVID-19 [2].

While the zero revenue quarter underscores that Soligenix remains pre-commercial, the success of its late-stage pipeline is critical for future value creation. The increased R&D investment appropriately prioritizes clinical advancement, while general and administrative (G&A) expenses have been slightly reduced, showing some cost discipline amid limited resources [1].

In summary, Soligenix's Q2 2025 results reveal a company at a critical juncture with both progress and challenges. The company's financial position is tight, but it continues to make significant strides in its clinical pipeline. Management's focus on strategic options signals recognition of their capital constraints and a commitment to advancing their late-stage rare disease programs.

References:
[1] https://www.stocktitan.net/news/SNGX/soligenix-announces-recent-accomplishments-and-second-quarter-2025-w9p8lmpgfidl.html
[2] https://www.marketscreener.com/news/soligenix-announces-recent-accomplishments-and-second-quarter-2025-financial-results-ce7c51d9d889f226