Alliance Global Partners Raises Soligenix Inc. Price Target to $10, Highlighting Progress in Rare Disease Treatments

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 for the company. This adjustment reflects the growing valuation of Soligenix's HyBryte(TM) for early-stage cutaneous T cell lymphoma (CTCL) and the potential of SGX945 in treating 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 by extending the treatment duration to 18 weeks, compared to the original six weeks. AGP's report highlights the significance of this extended treatment period in evaluating the efficacy of HyBryte for CTCL patients.

Additionally, Soligenix has reported promising data from its phase 2a study of SGX945 for aphthous ulcers in Behçet’s disease. The study met its objective by demonstrating biological efficacy, with SGX945 showing results comparable or superior to Amgen’s Otezla(R) in reducing oral ulcers. Notably, the therapeutic effect of SGX945 persisted beyond the treatment period, offering hope for long-term management of the disease.

AGP's valuation of Soligenix at $10 per share is based on projected sales of HyBryte and SGX945, as well as potential U.S. government contracts for RiVax(R), a ricin toxin vaccine candidate. The report underscores the company's strategic positioning in the biopharmaceutical sector, with a pipeline that addresses unmet medical needs in rare diseases.

For more details on AGP's analysis and Soligenix's clinical programs, visit https://ibn.fm/6zX9x.