Soligenix Inc. (NASDAQ: SNGX), a biopharmaceutical company specializing in rare diseases, has seen its price target raised to $10 per share by Alliance Global Partners (AGP), which also maintained its Buy rating on the stock. This adjustment reflects the growing valuation of Soligenix's HyBryte(TM) for cutaneous T cell lymphoma (CTCL) and the potential of SGX945 for Behçet’s disease.
The phase 3 FLASH2 trial for HyBryte is progressing as planned, with topline results expected next year. This trial builds on the initial FLASH study, extending the treatment duration to 18 weeks from six. Additionally, Soligenix has reported promising data from a phase 2a study of SGX945 for Behçet’s disease, showing efficacy comparable to or better than Amgen’s Otezla(R).
AGP's valuation of Soligenix at $10 per share is based on projected launches and sales growth of HyBryte and SGX945, alongside potential government contracts for RiVax(R). The firm anticipates HyBryte could generate $75 million in U.S. sales by 2035, with SGX945 reaching $50 million in sales by the same year. For more details on AGP's report, visit https://ibn.fm/6zX9x.
Soligenix's pipeline also includes treatments for psoriasis, inflammatory diseases, and vaccines for ricin toxin, filoviruses, and COVID-19, supported by government funding. The company's progress in these areas underscores its potential to address unmet medical needs in rare diseases and public health threats.
