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    Soligenix (SNGX)

    Market Price (10/22/2026): $0.3787 | Market Cap: $6.0 MilSector: Health Care | Industry: Biotechnology

    Soligenix (SNGX)

    Market Price (10/22/2026): $0.3787
    Market Cap: $6.0 Mil
    Sector: Health Care
    Industry: Biotechnology

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -170%

    Megatrend and thematic drivers
    Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.

    Weak multi-year price returns
    2Y Excs Rtn is -121%, 3Y Excs Rtn is -171%

    Penny stock
    Mkt Price is 0.4

    Very low revenue
    Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

    Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -11 Mil

    Yield minus risk free rate is negative
    ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -187%

    High stock price volatility
    Vol 12M is 129%

    Key risks
    SNGX key risks include [1] its critical need for capital to avoid potential bankruptcy due to minimal revenue and a cash runway of less than one year, Show more.

    0 Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -170%
    1 Megatrend and thematic drivers
    Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.
    2 Weak multi-year price returns
    2Y Excs Rtn is -121%, 3Y Excs Rtn is -171%
    3 Penny stock
    Mkt Price is 0.4
    4 Very low revenue
    Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
    5 Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -11 Mil
    6 Yield minus risk free rate is negative
    ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -187%
    7 High stock price volatility
    Vol 12M is 129%
    8 Key risks
    SNGX key risks include [1] its critical need for capital to avoid potential bankruptcy due to minimal revenue and a cash runway of less than one year, Show more.

    Valuation & Metrics

    FYE: 12/31SNGX [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$0.0 Mil—
    FY 2026 Sales$0.8 Mil—
    FY 2027 Sales$1.0 Mil—
    FY 2026 Sales Growth——
    FY 2027 Sales Growth25.0%13.1%
    EARNINGS
    LTM Net Income (GAAP) [3]$-10.2 Mil—
    FY 2026 Net Income (Non-GAAP)$-2.1 Mil—
    FY 2027 Net Income (Non-GAAP)$-1.3 Mil—
    FY 2027 Net Income Growth—18.6%
    FY 2026 EPS (Non-GAAP)$-0.40—
    FY 2027 EPS (Non-GAAP)$-0.25—
    FY 2027 EPS Growth——
    VALUATION
    FY 2026 P/S7.61.7
    FY 2027 P/S6.0—
    FY 2026 P/E—7.9
    FY 2027 P/E——

    [1] SNGX forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 10/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
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    AI Analysis | Feedback

    MetricValueDateSource
    Number of Actively Enrolling Clinical Trials311082025Link
    Number of Patients to be Enrolled in HyBryte™ FLASH2 Confirmatory Phase 3 TrialApproximately 8010072025Link
    Number of Product Candidates in Clinical Development511072025Link
    Government Grants and Contracts Funding AgenciesNational Institute of Allergy and Infectious Diseases (NIAID), Defense Threat Reduction Agency (DTRA), and the Biomedical Advanced Research and Development Authority (BARDA)11072025Link
    Recently Granted Patent Jurisdiction for Synthetic Hypericin ProductionHong Kong10222024Link
    Expected Patent Expiration for Synthetic Hypericin Production Method20369032024Link

    Price Chart

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    Upcoming
    11/06/2026Earnings ReleaseRev: -
    EPS: -

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 10/15/2026

    Soligenix (SNGX) stock has lost about 10% since 6/30/2026 because of the following key factors:

    1. Termination of the HyBryte™ (SGX301) Phase 3 Clinical Program.

    Soligenix's stock experienced a significant decline following the termination of its pivotal Phase 3 FLASH2 clinical study for HyBryte™ (synthetic hypericin), a treatment for early-stage cutaneous T-cell lymphoma (CTCL). The Data Monitoring Committee recommended halting the trial for futility in April 2026, leading the Board of Directors to discontinue the development program in June 2026. This major setback, announced with the fiscal Q2 2026 financial results on August 7, 2026, removed a key late-stage asset from the company's pipeline, eliminating its potential for near-term revenue generation from this program.

    2. Limited near-term revenue prospects and Q2 2026 financial performance.

    The company reported no revenue for fiscal Q2 2026, which ended June 30, 2026. While Soligenix's net loss narrowed to $2.0 million, or ($0.12) per share, compared to $2.7 million, or ($0.82) per share, in the prior year's fiscal Q2, this was primarily due to decreased research and development expenses following the termination of the HyBryte™ program. Despite meeting analyst expectations for EPS, the absence of revenue and the significant pipeline failure highlighted the company's reliance on future clinical success, which was diminished by the HyBryte™ discontinuation. As of June 30, 2026, the company maintained approximately $9.8 million in cash, providing a runway into fiscal Q2 2028.

    Show more
    Updated on 10/15/2026

    Soligenix (SNGX) stock has lost about 10% since 6/30/2026 because of the following key factors:

    1. Termination of the HyBryte™ (SGX301) Phase 3 Clinical Program.

    Soligenix's stock experienced a significant decline following the termination of its pivotal Phase 3 FLASH2 clinical study for HyBryte™ (synthetic hypericin), a treatment for early-stage cutaneous T-cell lymphoma (CTCL). The Data Monitoring Committee recommended halting the trial for futility in April 2026, leading the Board of Directors to discontinue the development program in June 2026. This major setback, announced with the fiscal Q2 2026 financial results on August 7, 2026, removed a key late-stage asset from the company's pipeline, eliminating its potential for near-term revenue generation from this program.

    2. Limited near-term revenue prospects and Q2 2026 financial performance.

    The company reported no revenue for fiscal Q2 2026, which ended June 30, 2026. While Soligenix's net loss narrowed to $2.0 million, or ($0.12) per share, compared to $2.7 million, or ($0.82) per share, in the prior year's fiscal Q2, this was primarily due to decreased research and development expenses following the termination of the HyBryte™ program. Despite meeting analyst expectations for EPS, the absence of revenue and the significant pipeline failure highlighted the company's reliance on future clinical success, which was diminished by the HyBryte™ discontinuation. As of June 30, 2026, the company maintained approximately $9.8 million in cash, providing a runway into fiscal Q2 2028.

    3. Shifting biotech market sentiment towards de-risked assets.

    The broader biotechnology sector in 2026 has shown a trend where capital is increasingly selective, favoring "de-risked, differentiated assets." While there's overall investor interest in orphan diseases due to regulatory incentives, a late-stage clinical trial failure, such as that experienced by Soligenix with HyBryte™, positions a company as a higher-risk investment. This environment makes it challenging for companies with recent pipeline setbacks to attract significant new capital and investor confidence, despite ongoing efforts to advance earlier-stage programs like SGX945 for Behçet's disease and the ThermoVax® platform.

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    Stock Movement Drivers

    Fundamental Drivers

    The -11.6% change in SNGX stock from 6/30/2026 to 10/21/2026 was primarily driven by a -36.3% change in the company's Shares Outstanding (Mil).
    (LTM values as of)630202610212026Change
    Stock Price ($)0.400.35-11.6%
    Change Contribution By: 
    Total Revenues ($ Mil)000.0%
    P/S Multiple∞∞0.0%
    Shares Outstanding (Mil)1016-36.3%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    6/30/2026 to 10/21/2026
    ReturnCorrelation
    SNGX-11.6% 
    Market (SPY)3.5%22.0%
    Sector (XLV)12.8%12.6%

    Fundamental Drivers

    The -70.3% change in SNGX stock from 3/31/2026 to 10/21/2026 was primarily driven by a -36.8% change in the company's Shares Outstanding (Mil).
    (LTM values as of)331202610212026Change
    Stock Price ($)1.180.35-70.3%
    Change Contribution By: 
    Total Revenues ($ Mil)000.0%
    P/S Multiple∞∞0.0%
    Shares Outstanding (Mil)1016-36.8%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    3/31/2026 to 10/21/2026
    ReturnCorrelation
    SNGX-70.3% 
    Market (SPY)19.2%15.6%
    Sector (XLV)22.6%4.8%

    Fundamental Drivers

    The -69.8% change in SNGX stock from 9/30/2025 to 10/21/2026 was primarily driven by a -79.4% change in the company's Shares Outstanding (Mil).
    (LTM values as of)930202510212026Change
    Stock Price ($)1.160.35-69.8%
    Change Contribution By: 
    Total Revenues ($ Mil)000.0%
    P/S Multiple∞∞0.0%
    Shares Outstanding (Mil)316-79.4%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    9/30/2025 to 10/21/2026
    ReturnCorrelation
    SNGX-69.8% 
    Market (SPY)17.0%20.6%
    Sector (XLV)30.2%9.1%

    Fundamental Drivers

    The -96.1% change in SNGX stock from 9/30/2023 to 10/21/2026 was primarily driven by a null change in the company's Total Revenues ($ Mil).
    (LTM values as of)930202310212026Change
    Stock Price ($)8.920.35-96.1%
    Change Contribution By: 
    Total Revenues ($ Mil)00 
    P/S Multiple8.8∞9.2233720368547763E17%
    Shares Outstanding (Mil)016-97.2%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    9/30/2023 to 10/21/2026
    ReturnCorrelation
    SNGX-96.1% 
    Market (SPY)87.1%6.7%
    Sector (XLV)45.6%3.8%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    SNGX Return-48%-32%-89%-78%-50%-74%-100%
    Peers Return-36%-38%-52%264%35%-35%-39%
    S&P 500 Return27%-19%24%23%16%12%104%

    Monthly Win Rates [3]
    SNGX Win Rate42%50%17%25%33%20% 
    Peers Win Rate31%43%42%47%52%36% 
    S&P 500 Win Rate75%42%67%75%67%50% 

    Max Drawdowns [4]
    SNGX Max Drawdown-72%-57%-95%-87%-78%-81% 
    Peers Max Drawdown-63%-77%-64%-76%-66%-59% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: CTOR, MNPR, EBS, SIGA, TNXP.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 10/21/2026 (YTD)

    How Low Can It Go

    EventSNGXS&P 500
    2025 US Tariff Shock
      % Loss-25.9%-18.8%
      % Gain to Breakeven35.0%23.1%
      Time to Breakeven48 days79 days
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-36.9%-9.5%
      % Gain to Breakeven58.5%10.5%
      Time to Breakeven9 days24 days
    2022 Inflation Shock & Fed Tightening
      % Loss-42.1%-24.5%
      % Gain to Breakeven72.6%32.4%
      Time to Breakeven66 days427 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-57.5%-19.2%
      % Gain to Breakeven135.3%23.8%
      Time to Breakeven392 days105 days
    2016-2017 Trump Reflation Bond Selloff
      % Loss-13.5%-3.7%
      % Gain to Breakeven15.7%3.9%
      Time to Breakeven9 days6 days
    2013 Taper Tantrum
      % Loss-31.4%-0.2%
      % Gain to Breakeven45.8%0.2%
      Time to Breakeven24 days1 days

    Compare to CTOR, MNPR, EBS, SIGA, TNXP

    In The Past

    Soligenix's stock fell -25.9% during the 2025 US Tariff Shock. Such a loss loss requires a 35.0% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventSNGXS&P 500
    2025 US Tariff Shock
      % Loss-25.9%-18.8%
      % Gain to Breakeven35.0%23.1%
      Time to Breakeven48 days79 days
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-36.9%-9.5%
      % Gain to Breakeven58.5%10.5%
      Time to Breakeven9 days24 days
    2022 Inflation Shock & Fed Tightening
      % Loss-42.1%-24.5%
      % Gain to Breakeven72.6%32.4%
      Time to Breakeven66 days427 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-57.5%-19.2%
      % Gain to Breakeven135.3%23.8%
      Time to Breakeven392 days105 days
    2013 Taper Tantrum
      % Loss-31.4%-0.2%
      % Gain to Breakeven45.8%0.2%
      Time to Breakeven24 days1 days
    2011 US Debt Ceiling Crisis & European Contagion
      % Loss-86.1%-17.9%
      % Gain to Breakeven621.8%21.8%
      Time to Breakeven135 days123 days
    2010 Eurozone Sovereign Debt Crisis / Flash Crash
      % Loss-21.4%-15.4%
      % Gain to Breakeven27.3%18.2%
      Time to Breakeven350 days125 days

    Compare to CTOR, MNPR, EBS, SIGA, TNXP

    In The Past

    Soligenix's stock fell -25.9% during the 2025 US Tariff Shock. Such a loss loss requires a 35.0% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Soligenix (SNGX)

    Soligenix, Inc. (SNGX) is a late-stage biopharmaceutical company primarily focused on developing and commercializing products to treat rare diseases within the United States. The company strategically operates through two main segments: Specialized BioTherapeutics and Public Health Solutions. Soligenix aims to address significant unmet medical needs across various therapeutic areas, from oncology and inflammatory conditions to infectious diseases.

    In its Specialized BioTherapeutics segment, Soligenix is advancing several product candidates, with its lead being SGX301 (HyBryte), a novel photodynamic therapy that has completed Phase III clinical trials for cutaneous T-cell lymphoma. Another key program is SGX942, an innate defense regulator currently in Phase III trials for inflammatory diseases, including oral mucositis in head and neck cancer patients. This segment also develops proprietary oral formulations for gastrointestinal disorders, such as SGX203 for pediatric Crohn's disease, and for skin conditions like mild-to-moderate psoriasis with SGX302. These products target patients suffering from rare cancers, severe inflammatory conditions, and certain gastrointestinal and dermatological disorders.

    Through its Public Health Solutions segment, Soligenix is dedicated to developing countermeasures against bioterrorism and emerging infectious threats. This includes RiVax, a ricin toxin vaccine candidate that has completed early-stage clinical trials, and SGX943, a preclinical therapeutic candidate for antibiotic-resistant and emerging infectious diseases. This segment also features platform technologies like ThermoVax for thermostabilizing vaccines and CiVax, a preclinical COVID-19 vaccine candidate. The primary customers for these public health solutions would likely be government agencies and public health organizations focused on national security and pandemic preparedness.

    AI Analysis | Feedback

    1. Soligenix is like a smaller, developing Alexion Pharmaceuticals, focused on bringing innovative treatments for various rare diseases and specialized conditions to market.

    2. They also have a segment operating somewhat like a small Emergent BioSolutions, developing vaccines and therapeutics specifically for public health and biodefense threats.

    AI Analysis | Feedback

    • SGX301 (HyBryte): A novel photodynamic therapy for the treatment of cutaneous T-cell lymphoma.
    • SGX942: An innate defense regulator technology for inflammatory diseases, including oral mucositis.
    • SGX203: A proprietary formulation for the prevention/treatment of pediatric Crohn's disease.
    • SGX302: A proprietary formulation for the treatment of mild-to-moderate psoriasis.
    • RiVax: A ricin toxin vaccine candidate.
    • SGX943: A therapeutic candidate for antibiotic resistant and emerging infectious diseases.
    • ThermoVax: A technology for thermostabilizing vaccines.
    • CiVax: A vaccine candidate for the prevention of COVID-19.

    AI Analysis | Feedback

    Soligenix, Inc. (SNGX) is a late-stage biopharmaceutical company focused on developing and commercializing products. As a biopharmaceutical company, Soligenix primarily sells its products to other companies or institutional entities, rather than directly to individual consumers. Once its drug and vaccine candidates are approved and commercialized, its major customers are expected to fall into the following categories:
    • Pharmaceutical Wholesalers and Distributors: These companies are the primary purchasers of pharmaceutical products from manufacturers for distribution to pharmacies, hospitals, and other healthcare providers. Major players in this sector include:
      • McKesson Corporation (MCK)
      • Cardinal Health, Inc. (CAH)
      • AmerisourceBergen Corporation (ABC)
    • Government Agencies and Public Health Organizations: For its Public Health Solutions segment, which includes vaccine candidates for biodefense (e.g., ricin toxin vaccine) and emerging infectious diseases (e.g., COVID-19 vaccine), Soligenix's major customers would primarily be government entities responsible for national health preparedness, biodefense, and public health initiatives. Examples include:
      • U.S. Department of Health and Human Services (HHS), specifically the Biomedical Advanced Research and Development Authority (BARDA)
      • U.S. Department of Defense (DoD)
      (Note: These are governmental bodies, not publicly traded companies with stock symbols.)

    AI Analysis | Feedback

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    AI Analysis | Feedback

    Christopher J. Schaber, PhD, Chairman, President and Chief Executive Officer

    Dr. Schaber has over 30 years of experience in the pharmaceutical and biotechnology industry, serving as President and Chief Executive Officer of Soligenix since August 2006, and Chairman of the Board since October 2009. Prior to Soligenix, he was Executive Vice President and Chief Operating Officer of Discovery Laboratories, Inc. from 1998 to 2006. He also co-founded Acute Therapeutics, Inc. (1996-1998), where he served as Vice President of Regulatory Compliance and Drug Development. Dr. Schaber has held various regulatory, development, and operations positions at Ohmeda PPD, Inc., The Liposome Company, Inc., and Elkins-Sinn Inc. (a division of Wyeth-Ayerst Laboratories). He has played a significant role in raising over $300 million through public and private financings, and more than $80 million through government grants and contracts for organizations he has been involved with.

    Jonathan L. Guarino, CPA, CGMA, Senior Vice President and Chief Financial Officer

    Mr. Guarino serves as Senior Vice President, Chief Financial Officer, and Corporate Secretary of Soligenix, Inc. He possesses over 25 years of experience in financial and strategic leadership, with extensive expertise across public and private companies, particularly within the life sciences sector. In his role, Mr. Guarino oversees finance, capital strategy, SEC reporting, investor and public communications, information technology, human resources, and corporate governance.

    Oreola Donini, PhD, Senior Vice President and Chief Scientific Officer

    Dr. Donini has more than 20 years of experience in drug discovery and preclinical development, primarily with start-up biotechnology companies. She has been instrumental in leading the early-stage development of several novel therapies into clinical trials. Dr. Donini previously worked with ESSA Pharma Inc., Inimex Pharmaceuticals Inc., and Kinetek Pharmaceuticals Inc. She is a co-inventor and leader of the SGX94 innate defense regulator technology, which was originally developed by Inimex Pharmaceuticals and subsequently acquired by Soligenix.

    Richard C. Straube, MD, MSc, Senior Vice President and Chief Medical Officer

    Dr. Straube brings over 35 years of experience in both academia and the pharmaceutical industry to Soligenix. He is a board-certified pediatrician with considerable clinical research experience in host-response modulation. Dr. Straube held key leadership roles at companies such as Stealth Peptides, INO Therapeutics, Ohmeda Pharmaceuticals, and Centocor. As the founding Chief Medical Officer for INO Therapeutics, he was responsible for the clinical trials and subsequent approval of inhaled nitric oxide, and he participated in the sale of the company to Ikaria for $700 million.

    Adam T. Rumage, Senior Vice President, Project Management & Regulatory Affairs

    Mr. Rumage serves as the Senior Vice President of Project Management & Regulatory Affairs for Soligenix. In this role, he is responsible for overseeing the company's project management initiatives and regulatory affairs, which are critical for advancing Soligenix's product pipeline through development and towards potential commercialization.

    AI Analysis | Feedback

    The company Soligenix (SNGX) faces several key risks inherent to its nature as a late-stage biopharmaceutical company focused on developing and commercializing products for rare diseases. The most significant key risks to Soligenix's business include: 1. **Clinical Trial Failure and Regulatory Approval Risk:** Soligenix's business success is heavily dependent on the successful completion of its ongoing clinical trials, particularly the late-stage Phase III trials for SGX301 (HyBryte) for cutaneous T-cell lymphoma (CTCL) and SGX942 for inflammatory diseases like oral mucositis. The company expects top-line results for the confirmatory Phase 3 FLASH2 clinical trial for HyBryte in the second half of 2026. There is no assurance that these trials will demonstrate sufficient efficacy and safety to gain regulatory approvals from bodies like the FDA or EMA. A failure at any stage of clinical development or an inability to obtain regulatory approval would severely impact the company's ability to commercialize its products and generate revenue. 2. **Funding and Capital Raising Risk:** As a biopharmaceutical company with no currently commercialized products generating substantial revenue, Soligenix relies on its ability to secure sufficient funding to continue its research and development, conduct clinical trials, and prepare for potential commercialization. The company has reported net losses and limited working capital, leading to an auditor-issued going-concern opinion, indicating substantial doubt about continued operations without additional capital. While Soligenix recently closed a $7.5 million public offering to extend its cash runway through the end of 2026, it has also historically used equity issuances that materially dilute shareholders. The dependence on uncertain government funding, grants, and contracts for its Public Health Solutions segment, along with the need for further equity or strategic transactions, presents an ongoing financial risk. 3. **Commercialization and Market Adoption Risk:** Even if Soligenix's drug candidates successfully complete clinical trials and receive regulatory approval, there is no guarantee of commercial success or significant market adoption. Factors such as competition from existing treatments or other developing therapies, pricing pressures, and the company's ability to effectively market and distribute its products in the rare disease landscape could impact revenue generation.

    AI Analysis | Feedback

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    AI Analysis | Feedback

    The addressable markets for Soligenix's main products are outlined below, with market sizes provided for either the global or U.S. region. * SGX301 (HyBryte) for Cutaneous T-cell Lymphoma (CTCL): The market size for Cutaneous T-cell Lymphoma (CTCL) across the 7 Major Markets (7MM, which include the United States, EU4 (Germany, France, Italy, and Spain), the United Kingdom, and Japan) was approximately USD 1,042 million in 2025. This market is projected to expand to around USD 1,622 million by 2034, growing at a Compound Annual Growth Rate (CAGR) of 5.0%. The United States alone constituted the dominant portion, capturing nearly 70% of the total CTCL market share within the 7MM in 2024, with its market generating approximately USD 700 million in revenue in 2024. * SGX942 for Oral Mucositis: The global oral mucositis treatment market was valued at USD 1.85 billion in 2024 and is expected to reach approximately USD 3.72 billion by 2034, demonstrating a CAGR of 7.20% from 2025 to 2034. In the U.S., the oral mucositis treatment market was valued at USD 500 million in 2024 and is projected to reach around USD 1.03 billion by 2034, with a CAGR of 7.49% from 2025 to 2034. * SGX203 for Pediatric Crohn's Disease: The Crohn's disease market size across the 7MM was approximately USD 10,777 million in 2024, and it is projected to grow at a CAGR of 4.3%. The United States represented the largest market, accounting for approximately 74% of the total market size in the 7MM in 2024. Roughly 10% of the overall Crohn's disease market revenue is generated from pediatric patients. Based on these figures, the addressable market for pediatric Crohn's disease in the 7MM was approximately USD 1,077.7 million (10% of USD 10,777 million) in 2024. In the U.S., the pediatric Crohn's disease market was approximately USD 800 million (10% of USD 8,000 million) in 2024. * SGX302 for Mild-to-Moderate Psoriasis: The global psoriasis treatment market was valued at USD 29.15 billion in 2025 and is projected to grow to USD 72.99 billion by 2034, at a CAGR of 11.10% during the forecast period. The U.S. psoriasis treatment market reached USD 10.4 billion in 2024. Most psoriasis patients (78%) are classified as having mild or moderate illness. Therefore, the addressable global market for mild-to-moderate psoriasis would be approximately USD 22.74 billion (78% of USD 29.15 billion) in 2025, and the U.S. market would be approximately USD 8.11 billion (78% of USD 10.4 billion) in 2024.

    AI Analysis | Feedback

    Soligenix (SNGX) is expected to drive future revenue growth over the next 2-3 years through the advancement and potential commercialization of several key product candidates. Here are 4 expected drivers of future revenue growth: * **Commercialization of HyBryte (SGX301) for Cutaneous T-Cell Lymphoma (CTCL)**: HyBryte, a novel photodynamic therapy for CTCL, has completed Phase III clinical trials (FLASH and a confirmatory FLASH2 study), with top-line results for FLASH2 anticipated in the second half of 2026. Soligenix is actively pursuing regulatory approvals and commercialization worldwide, positioning HyBryte as a potential first-line treatment for early-stage CTCL. The company projects peak annual net sales in the U.S. to exceed $90 million, within a global CTCL market estimated at over $250 million annually. * **Government Procurement of RiVax (Ricin Toxin Vaccine Candidate)**: RiVax, Soligenix's ricin toxin vaccine candidate, is being developed as a biodefense countermeasure. It has received Fast Track and Orphan Drug designations from the U.S. FDA, and the company is seeking approval under the Animal Rule. The development of RiVax is supported by government grant and contract funding, with potential for significant revenue through procurement contracts for the U.S. Strategic National Stockpile and other countries. * **Advancement of SGX942 for Oral Mucositis in Head and Neck Cancer**: SGX942, an innate defense regulator, has completed a pivotal Phase 3 clinical study ("DOM-INNATE") for the treatment of severe oral mucositis in head and neck cancer patients. Although the primary endpoint of the Phase 3 study did not achieve statistical significance, biological activity was observed, and there is no FDA-approved treatment for oral mucositis in patients with solid tumors, indicating a significant unmet medical need. SGX942 holds Fast Track designation from the FDA and Promising Innovative Medicine (PIM) designation in the UK. Continued development or strategic partnerships could generate future revenue. * **Expansion of Synthetic Hypericin (SGX302) into Psoriasis**: Soligenix is expanding the development of its synthetic hypericin platform, SGX302, for the treatment of psoriasis. The worldwide market for psoriasis therapies is substantial, with estimates exceeding $1 billion annually, suggesting significant revenue potential as SGX302 progresses through its clinical development (currently in Phase I/II).

    AI Analysis | Feedback

    Share Issuance

    • Soligenix completed a public offering in September 2025, generating approximately $7.5 million in gross proceeds from the sale of 5,555,560 shares of common stock (or common stock equivalents) and warrants. This funding is intended to support research and development, commercialization activities, working capital, and general corporate purposes, extending the company's cash runway through the end of 2026.
    • In January 2026, Soligenix established an At Market Issuance Sales Agreement to potentially sell up to $3.45 million of common stock through a sales agent.
    • The company implemented a 2025 Equity Incentive Plan, filing a Form S-8 to register securities, and granted stock options to directors in June 2025.

    Inbound Investments

    • Soligenix's Public Health Solutions segment receives grant and contract funding from government agencies, including NIAID, DTRA, and BARDA.
    • The company secured approximately $500,000 in non-dilutive funding through the New Jersey net operating loss (NOL) sales program.

    Capital Expenditures

    • In the last 12 months (prior to March 2026), Soligenix reported capital expenditures of approximately -$3,921.

    Peer Outperformance in Biotechnology

    SNGX has trailed 92% of its 363 Biotechnology peers over 5Y. Biotechnology ranks 9th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
    Share of Biotechnology constituents that SNGX has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    14%
    of 452 industry peers · -78.8% return
    3Y
    13%
    of 398 industry peers · -95.9% return
    5Y
    8%
    of 363 industry peers · -99.9% return
    No Biotechnology peer with a comparable growth profile has beaten SNGX by more than 20pp over 5Y.
    Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is SNGX's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Health Care Distributors 6 16.9%54.7%100.0% CAH 481% · MCK 402% · COR 192%
    Health Care Services 20 15.9%40.3%9.3% HIMS 245% · RDNT 125% · DGX 81%
    Health Care Facilities 24 7.1%15.7%4.4% THC 282% · NHC 281% · ENSG 138%
    Managed Health Care 8 36.1%-0.9%2.5% OSCR 99% · HQY 49% · ELV 9%
    Health Care Equipment 50 -5.8%3.4%-12.7% UFPT 364% · GKOS 286% · TMDX 157%
    Pharmaceuticals 61 -11.9%1.9%-34.2% LQDA 945% · KNSA 627% · CORT 518%
    Health Care Supplies 11 15.5%-6.5%-40.2% LNTH 334% · HAE 63% · MMSI 29%
    Life Sciences Tools & Services 109 -11.9%-9.2%-66.5% NTRA 268% · MEDP 256% · IRTC 61%
    Biotechnology ← 364 -24.5%-24.7%-80.9% DNTH 1113% · ELVN 1062% · ADMA 810%
    Health Care Technology 22 -28.0%-64.5%-82.8% VEEV -1% · DOCS -51%
    Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

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    Peer Comparisons

    Peers to compare with:

    Financials

    SNGXCTORMNPREBSSIGATNXPMedian
    NameSoligenixCitius O.Monopar .Emergent.SIGA Tec.Tonix Ph. 
    Mkt Price0.380.7173.006.193.185.384.28
    Mkt Cap0.00.10.60.30.20.10.2
    Rev LTM070742542918
    Op Inc LTM-11-47-22138-11-164-17
    FCF LTM-10-26-1286-20-157-16
    FCF 3Y Avg-9--109357-100-9
    CFO LTM-10-19-1298-20-153-16
    CFO 3Y Avg-9--1011558-97-9

    Growth & Margins

    SNGXCTORMNPREBSSIGATNXPMedian
    NameSoligenixCitius O.Monopar .Emergent.SIGA Tec.Tonix Ph. 
    Rev Chg LTM----8.6%-70.1%196.0%-8.6%
    Rev Chg 3Y Avg----9.7%3.5%--3.1%
    Rev Chg Q---74.1%-49.5%577.9%74.1%
    QoQ Delta Rev Chg LTM-26.6%-14.9%-42.8%65.8%20.8%
    Op Inc Chg LTM2.9%-85.6%-15.8%29.1%-111.0%-110.4%-50.7%
    Op Inc Chg 3Y Avg-6.9%--48.2%63.9%28.9%-22.7%-6.9%
    Op Mgn LTM--665.6%-18.5%-20.8%-562.8%-291.8%
    Op Mgn 3Y Avg---4.2%31.6%-706.2%4.2%
    QoQ Delta Op Mgn LTM-110.0%-7.2%-42.8%286.5%58.6%
    CFO/Rev LTM--272.9%-13.2%-37.6%-525.7%-155.2%
    CFO/Rev 3Y Avg---13.7%23.8%-591.0%13.7%
    FCF/Rev LTM--371.4%-11.6%-38.2%-540.0%-204.8%
    FCF/Rev 3Y Avg---11.4%23.6%-610.7%11.4%

    Valuation

    SNGXCTORMNPREBSSIGATNXPMedian
    NameSoligenixCitius O.Monopar .Emergent.SIGA Tec.Tonix Ph. 
    Mkt Cap0.00.10.60.30.20.10.2
    P/S-10.8-0.44.33.13.7
    P/Op Inc-0.5-1.6-28.22.3-20.5-0.5-1.1
    P/EBIT-0.5-1.7-28.2-3.4-20.5-0.6-2.5
    P/E-0.6-1.7-34.9-1.8-81.9-0.6-1.7
    P/CFO-0.6-4.0-51.23.3-11.3-0.6-2.3
    Total Yield-183.4%-61.0%-2.9%-55.3%18.2%-176.8%-58.1%
    Dividend Yield0.0%0.0%0.0%0.0%19.5%0.0%0.0%
    FCF Yield 3Y Avg-206.7%--19.6%22.1%10.5%-88,116.1%-19.6%
    D/E0.10.10.01.80.00.00.0
    Net D/E-1.6-0.1-0.21.4-0.5-2.0-0.4

    Returns

    SNGXCTORMNPREBSSIGATNXPMedian
    NameSoligenixCitius O.Monopar .Emergent.SIGA Tec.Tonix Ph. 
    1M Rtn1.8%-32.0%-23.7%-5.5%0.6%-49.8%-14.6%
    3M Rtn4.5%24.1%-35.1%-18.3%-6.2%-49.2%-12.3%
    6M Rtn-71.7%-24.3%37.0%-25.3%-29.5%-59.0%-27.4%
    12M Rtn-77.0%-60.3%-6.0%-34.5%-57.6%-72.7%-58.9%
    3Y Rtn-95.6%-93.4%3,100.4%180.1%-17.4%-99.7%-55.4%
    1M Excs Rtn-0.2%-32.2%-23.1%-7.1%-1.1%-47.9%-15.1%
    3M Excs Rtn-0.9%19.5%-34.4%-20.9%-2.5%-52.7%-11.7%
    6M Excs Rtn-79.6%-31.8%29.6%-32.6%-36.9%-66.2%-34.8%
    12M Excs Rtn-92.6%-74.2%-19.2%-50.7%-71.6%-86.5%-72.9%
    3Y Excs Rtn-176.8%-169.7%2,930.6%75.6%-98.2%-174.1%-134.0%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date8/7/20265/8/20263/31/202611/7/20258/14/20255/9/20253/21/202511/8/20248/9/20245/10/20243/15/202411/13/2023
    Key Financials Quarterly            
    Total Revenue000000000000
    Ebitda-2-3-3-3-3-3-4-2-2-2-2-2
    Operating Income-2-3-3-3-3-3-4-2-2-2-2-2
    Net Income-2-3-3-3-3-3-3-2-2-2-2-2
    EPS-0.12-0.28-0.29-0.58-0.82-0.97-1.19-0.78-1.31-2.91-2.81-2.56
    Key Financials TTM            
    Total Revenue TTM000000000000
    Ebitda TTM-11-12-12-12-11-10-9-8-8-8-7-9
    Operating Income TTM-11-12-12-12-11-10-9-8-8-8-7-9
    Net Income TTM-10-11-11-11-10-9-8-7-7-7-6-8
    Growth Rates Quarterly            
    Total Revenue Growth------100.0%----54.5%-100.0%-
    EBITDA Growth24.1%4.7%6.4%-38.4%-55.7%-51.9%-74.3%-5.1%-9.4%-5.7%40.8%42.4%
    Operating Income Growth24.0%4.7%6.4%-38.3%-55.6%-51.8%-74.2%-5.1%-9.4%-5.7%40.4%42.4%
    Net Income Growth26.4%4.3%3.1%-47.2%-64.3%-54.1%-64.2%-3.4%-2.0%-83.1%51.5%49.8%
    Margins Quarterly            
    EBITDA Margin----------1702.3%--
    Operating Income Margin----------1703.6%--
    Net Income Margin----------1636.6%--
    Cash & Debt            
    Total Cash1068115781097810
    Total Debt000000123333
    Net Debt / (Cash)-10-6-8-10-5-7-6-8-6-4-5-7
    Cash Flows Quarterly            
    FCF from Operations-2-2-3-3-3-2-2-3-2-1-2-3
    Cash Flows TTM            
    FCF from Operations TTM-10-11-10-10-10-9-8-8-8-8-9-10
    Returns to Shareholders Quarterly            
    Dividends000000000000
    Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC-3.4%-4.7%-5.7%-4.3%-4.7%-5.2%-5.6%-3.3%-3.1%-3.6%-2.9%-3.2%
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM-4.5%-4.8%-4.9%-5.0%-4.8%-4.4%-3.8%-3.1%-3.1%-3.1%-2.6%-3.5%

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Adjustments00   
    Corporate00   
    Public Health Solutions00011
    Specialized BioTherapeutics0000 
    Total00111


    Operating Income by Segment
    $ Mil20252024202320222021
    Adjustments00   
    Public Health Solutions-0-0-00-1
    Corporate-5-5-5-7-5
    Specialized BioTherapeutics-7-4-3-8-7
    Total-12-9-8-14-13


    Assets by Segment
    $ Mil20252024202320222021
    Corporate99101427
    Specialized BioTherapeutics00000
    Public Health Solutions00000
    Total99101427


    Price Behavior

    Price Behavior
    Market Price$0.35 
    Market Cap ($ Bil)0.0 
    First Trading Date09/30/2009 
    Distance from 52W High-78.8% 
       50 Days200 Days
    DMA Price$0.37$0.72
    DMA Trenddowndown
    Distance from DMA-5.7%-51.2%
     3M1YR
    Volatility38.9%129.4%
    Downside Capture156.52458.57
    Upside Capture103.42203.35
    Correlation (S&P 500)23.9%20.9%
    SNGX Betas & Captures as of 9/30/2026

     1M2M3M6M1Y3Y
    Beta1.440.790.822.172.120.98
    Up Beta0.741.411.531.381.35-0.27
    Down Beta2.330.91-0.214.782.951.58
    Up Capture130%42%53%90%239%35%
    Bmk +ve Days6162766132424
    Stock +ve Days9192753111309
    Down Capture170%86%116%305%181%112%
    Bmk -ve Days16263760120328
    Stock -ve Days13233665124406

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SNGX
    SNGX-79.5%129.4%-0.45-
    Sector ETF (XLV)25.3%16.2%1.197.4%
    Equity (SPY)16.2%12.7%0.9020.3%
    Gold (GLD)-6.0%29.0%-0.229.7%
    Commodities (DBC)50.2%20.7%1.85-11.8%
    Real Estate (VNQ)3.1%13.8%-0.037.0%
    Bitcoin (BTCUSD)-25.3%43.4%-0.5517.2%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SNGX
    SNGX-72.6%185.2%-0.11-
    Sector ETF (XLV)9.0%15.3%0.394.4%
    Equity (SPY)13.6%17.1%0.615.4%
    Gold (GLD)17.7%18.9%0.763.7%
    Commodities (DBC)9.5%19.5%0.37-4.4%
    Real Estate (VNQ)1.1%18.9%-0.052.5%
    Bitcoin (BTCUSD)7.6%51.7%0.332.7%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SNGX
    SNGX-51.5%144.7%-0.01-
    Sector ETF (XLV)11.6%16.7%0.576.9%
    Equity (SPY)15.5%17.9%0.738.4%
    Gold (GLD)12.2%16.4%0.613.3%
    Commodities (DBC)8.2%18.1%0.37-1.1%
    Real Estate (VNQ)5.2%20.7%0.215.6%
    Bitcoin (BTCUSD)62.6%66.2%1.024.6%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date9302026
    Short Interest: Shares Quantity0.2 Mil
    Short Interest: % Change Since 9152026-17.0%
    Average Daily Volume0.3 Mil
    Days-to-Cover Short Interest1
    Basic Shares Quantity16.0 Mil
    Short % of Basic Shares1.1%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/07/202610-Q
    03/31/202605/08/202610-Q
    12/31/202503/31/202610-K
    09/30/202511/07/202510-Q
    06/30/202508/14/202510-Q
    03/31/202505/09/202510-Q
    12/31/202403/21/202510-K
    09/30/202411/08/202410-Q
    06/30/202408/09/202410-Q
    03/31/202405/10/202410-Q
    12/31/202303/15/202410-K
    09/30/202311/13/202310-Q
    06/30/202308/21/202310-Q
    03/31/202305/15/202310-Q
    12/31/202203/31/202310-K
    09/30/202211/10/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/07/202610-Q
    03/31/202605/08/202610-Q
    12/31/202503/31/202610-K
    09/30/202511/07/202510-Q
    06/30/202508/14/202510-Q
    03/31/202505/09/202510-Q
    12/31/202403/21/202510-K
    09/30/202411/08/202410-Q
    06/30/202408/09/202410-Q
    03/31/202405/10/202410-Q
    12/31/202303/15/202410-K
    09/30/202311/13/202310-Q
    06/30/202308/21/202310-Q
    03/31/202305/15/202310-Q
    12/31/202203/31/202310-K
    09/30/202211/10/202210-Q
    06/30/202208/12/202210-Q
    03/31/202205/13/202210-Q
    12/31/202103/29/202210-K
    09/30/202111/12/202110-Q
    06/30/202108/13/202110-Q
    03/31/202105/18/202110-Q
    12/31/202003/30/202110-K
    09/30/202011/12/202010-Q
    06/30/202008/14/202010-Q
    03/31/202005/15/202010-Q
    12/31/201903/30/202010-K
    09/30/201911/12/201910-Q

    Insider Activity

    Updated 10/13/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Schaber, Christopher JCHAIRMAN, CEO AND PRESIDENTDirectBuy100320251.3215,13220,00020,501Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Schaber, Christopher JCHAIRMAN, CEO AND PRESIDENTDirectBuy100320251.3215,13220,00020,501Form

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