Soligenix Posts $2M Q2 Loss, $9.8M Cash Runway Into 2028; Eyes Strategic Options
SNGX sits 35% above its 52-week low of $0.28.
Summary
Soligenix reported a Q2 net loss of $2.0 million, or $0.12 per share, narrowing from $2.7 million a year ago as R&D costs fell following the HyBryte program termination. Cash stands at $9.8 million, which management says funds operations into Q2 2028. The company is actively pursuing strategic alternatives including partnerships, licensing, and M&A, while also seeking non-dilutive CEPI funding for its Bundibugyo Ebola vaccine. Maintaining the Nasdaq listing remains a priority, with a reverse stock split proposal pending shareholder approval. The update follows a series of dilutive ATM expansions and a delisting notice, but the extended cash runway and pipeline pivot may stabilize the near-term outlook.
At the time of this announcement, SNGX was trading at $0.38 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $8.2M. The 52-week trading range was $0.28 to $6.23. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: PR Newswire.