Soligenix Reports 2024 Financial Results and Clinical Progress

Soligenix, Inc. (Nasdaq: SNGX), a late-stage biopharmaceutical company, announced its 2024 financial results and key clinical advancements.

The company highlighted ongoing Phase 3 trials for HyBryte™ (synthetic hypericin) targeting early-stage cutaneous T-cell lymphoma (CTCL), with top-line results expected in 2026. Phase 2 studies for SGX945 (dusquetide) in Behçet’s disease and SGX302 in psoriasis are also expected to report results in late 2025.

Recent achievements include positive interim data from an extended HyBryte™ study, new patient enrollments for confirmatory Phase 3 and Phase 2 trials, and the formation of a European Medical Advisory Board for strategic guidance.

Financially, Soligenix reported $0.1 million in revenue for 2024, down from $0.8 million in 2023, primarily due to timing in government grants.

Net loss increased to $8.3 million from $6.1 million, driven by higher R&D expenses and lower revenue, partially offset by interest income and tax credits.

The company ended 2024 with $7.8 million in cash, providing operational runway through 2025, while exploring strategic options like partnerships, mergers, and financing to support its clinical pipeline.