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Soligenix (SNGX): Two SBIR Grant Awarded Supporting Two Pivotal Phase III Trials

09/22/2017
By Grant Zeng, CFA

NASDAQ:SNGX

The NIDCR SBIR Grant to Support the Phase III Trial of SGX942 for Oral Mucositis

On September 20, Soligenix (NASDAQ:SNGX) announced that the National Institute of Dental and Craniofacial Research (NIDCR), part of the National Institutes of Health (NIH), has awarded Soligenix a Small Business Innovation Research (SBIR) grant of approximately $1.5 million over two years to support the conduct of its Phase III, multinational, randomized, double-blind, placebo-controlled study evaluating SGX942 (dusquetide) as a treatment for severe oral mucositis in patients with head and neck cancer receiving chemoradiation therapy (CRT).

NIDCR already supported the company’s previous Phase II clinical study and now is supporting the recently initiated pivotal Phase III clinical study of SGX942 in the treatment of oral mucositis. 

So far, a total of $7.5 million in non-dilutive NIH funding has been awarded to Soligenix. 

The NCI SBIR Grant to Support the Pivotal Phase III Trial of SGX301 for the Treatment of Cutaneous T-Cell Lymphoma

On September 18, Soligenix announced that the National Cancer Institute (NCI), part of the National Institutes of Health (NIH), has awarded Soligenix a Small Business Innovation Research (SBIR) grant of approximately $1.5 million over two years to support the conduct of its pivotal, Phase III, randomized, double-blind, placebo-controlled study evaluating SGX301 (synthetic hypericin) as a treatment for cutaneous T-cell lymphoma (CTCL).

So far in 2017, approximate $6 million of non-dilutive funding has been awarded to Soligenix by the NCI. 

The Implications

We believe the two grants not only boost the company’s balance sheet in a non-dilutive way, but more importantly, validate Soligenix’ technology and clinical programs. Both SGX942 and SGX301 are in late stage development for respective indications. 

We believe management of Soligenix will continue to be aggressive in pursuit of government grants and contracts across the company’s entire pipeline as a way to secure non-dilutive funding to support multiple development programs, while will effectively manage the company’s cash position. 

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