SOLIGENIX, INC.
SNGX evidence brief
What we can confirm
- BioSniper Score:
- 6.6 / 10
- Market Cap:
- $7.9M
- Lead Asset:
- dusquetide (Phase 2)
What it means
What to watch
Prepared research question
What matters most for SNGX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · SNGX
Soligenix, Inc. (SNGX) is a late-stage biopharmaceutical company developing therapies for rare diseases and public health threats, with a diversified pipeline including photodynamic therapy for cutaneous T-cell lymphoma and a dusquetide program for Behçet's disease.
Key risk: Phase 3 CTCL trial failure
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 4 clinical trials for SOLIGENIX, INC..
Soligenix, Inc. (SNGX) is a late-stage biopharmaceutical company developing therapies for rare diseases and public health threats, with a diversified pipeline including photodynamic therapy for cutaneous T-cell lymphoma and a dusquetide program for Behçet's disease.
- Soligenix is a late-stage biopharmaceutical company focused on rare diseases with unmet medical need, maintaining Specialized BioTherapeutics and Public Health Solutions segments [sec_mda · as of 2026-03-31].
- The Phase 3 FLASH2 study for HyBryte (SGX301) in cutaneous T-cell lymphoma was halted for futility after an interim efficacy analysis in April 2026 [sec_mda · as of 2026-05-08].
- SGX945 (dusquetide) for aphthous ulcers in Behçet's disease completed a Phase 2a study demonstrating safety and biological efficacy [sec_mda · as of 2026-08-07].
- The company reported a net loss of -$2.0M and shareholders' equity of $6.6M as of 2026-06-30 [sec].
- Soligenix is pursuing business development opportunities and exploring strategic alternatives including merger/acquisition strategies [sec_mda · as of 2026-08-07].
What works
- Diversified pipeline beyond HyBryte, including SGX945 (dusquetide) for Behçet's disease which completed a Phase 2a study with promising preliminary efficacy signals and was generally safe and well-tolerated [sec · filed 2026-08-03].
- Public Health Solutions segment includes government-funded programs for ricin toxin vaccine (RiVax), therapeutic for antibiotic-resistant disease (SGX943), and vaccine platforms using ThermoVax heat stabilization technology [sec_mda · as of 2026-03-31].
- The company has multiple clinical-stage programs with FDA clearance for Phase 2 studies, including SGX302 for psoriasis and SGX945 for Behçet's disease [sec_mda · as of 2026-08-07].
What to weigh
- The Phase 3 FLASH2 study for HyBryte (SGX301) in cutaneous T-cell lymphoma was halted for futility following a planned interim analysis in April 2026 [sec_mda · as of 2026-05-08].
- The company reported a net loss of -$2.0M and shareholders' equity of $6.6M as of 2026-06-30, indicating ongoing financial losses [sec].
- The company explicitly states it is exploring strategic alternatives including merger/acquisition strategies, which may signal challenges in advancing pipeline independently [sec_mda · as of 2026-08-07].
From the filings
Quoted directly from source documents.
Phase 3 FLASH2 study halted for futility
“The Data Monitoring Committee completed its interim efficacy analysis of the FLASH2 trial during April 2026, and under the terms of the interim analysis, the study was recommended to halt for futility.”
SEC MD&A · May 8, 2026
SGX945 Phase 2a study completed with safety and biological efficacy
“Phase 2a study complete having achieved the study objective of demonstrating safety and biological efficacy”
SEC MD&A · August 7, 2026
Company exploring strategic alternatives including merger/acquisition
“Pursue business development opportunities for pipeline programs, as well as explore all strategic alternatives, including but not limited to merger/acquisition strategies.”
SEC MD&A · August 7, 2026
Catalyst timeline
- 2022-12-14 · Phase 2 Study Evaluating SGX302 (Synthetic Hypericin) in the Treatment of Mild-to-Moderate Psoriasis — Initiation of a Phase 2a clinical trial for SGX302 in psoriasis, following positive proof-of-concept in a pilot study.
- 2023-12-05 · Pilot Study of HyBryte (Synthetic Hypericin) Versus Valchlor (Mechlorethamine) in the Treatment of CTCL — Start of a pilot study comparing HyBryte to Valchlor for cutaneous T-cell lymphoma.
- 2024-11-18 · Pilot Study of SGX945 (Dusquetide) in the Treatment of Aphthous Ulcers in Behcet's Disease — Initiation of a Phase 2 pilot study for SGX945 in Behçet's disease.
- 2025-01-07 · A Confirmatory Phase 3 Multicenter, Randomized, Double-Blind, Placebo-Controlled Study of the Efficacy of Topical HyBryte™ (Hypericin Sodium) and Visible-Light Activation for the Treatment of Cutaneous T-Cell Lymphoma (CTCL) — Start of the Phase 3 FLASH2 study, which was later halted for futility in April 2026.
Risks & what to watch (3)›
Key risks
- Phase 3 CTCL trial failure — The Phase 3 FLASH2 study for HyBryte was halted for futility, jeopardizing the lead pipeline program [sec_mda · as of 2026-05-08].
- Limited financial runway — With a net loss of -$2.0M and equity of $6.6M as of 2026-06-30, the company faces potential cash constraints [sec].
- Dependence on strategic alternatives — Explicit exploration of merger/acquisition strategies indicates potential difficulty in sustaining independent operations [sec_mda · as of 2026-08-07].
What to watch
- Analysis of FLASH2 data following the futility halt and any potential pivot for the HyBryte program [sec_mda · as of 2026-05-08].
- Progress of SGX945 (dusquetide) Phase 2a for Behçet's disease and any subsequent development plans [sec_mda · as of 2026-08-07].
- Outcome of business development efforts and any merger/acquisition announcements [sec_mda · as of 2026-08-07].
- Financial updates, particularly cash runway and ability to fund ongoing operations given net loss [sec].
Sources: Catalysts · News · SEC filings · SEC MD&A · Generated October 2, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.58 · 0% dilution
Lead: Phase 2
2 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Regulatory
Financials
Short Interest
as of Apr 28, 2026- % of float
- 7.9%
- Days to cover
- 2.5
- Shares short
- 809,139
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
SNGX short interestGovernance
Frequently asked questions
What is the AI investment thesis for SOLIGENIX, INC.?
Soligenix, Inc. (SNGX) is a late-stage biopharmaceutical company developing therapies for rare diseases and public health threats, with a diversified pipeline including photodynamic therapy for cutaneous T-cell lymphoma and a dusquetide program for Behçet's disease.
What is SOLIGENIX, INC.'s lead drug candidate?
SOLIGENIX, INC.'s most advanced tracked candidate is dusquetide (Phase 2) for Behçet Disease.
Who is the CEO of SOLIGENIX, INC.?
Dr. Christopher J. Schaber Ph.D. is the chief executive officer of SOLIGENIX, INC. (SNGX).
Where is SOLIGENIX, INC. headquartered?
SOLIGENIX, INC. (SNGX) is headquartered in Princeton, NJ, United States.
What therapeutic areas does SOLIGENIX, INC. focus on?
SOLIGENIX, INC. develops therapies across Oncology, Immunology, Infectious Disease, Dermatology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.