On June 6, 2024, Soligenix, Inc. (SNGX) enacted a reverse stock split at a ratio of 1 post-split share for every 16 pre-split shares. Our valuation has been adjusted accordingly. The company recently completed a public offering for gross proceeds of approximately $4.75 million. This capital infusion is important as the company prepares to initiate a second Phase 3 trial of HyBryte (synthetic hypericin) in the treatment of cutaneous T cell lymphoma (CTCL). We anticipate the trial starting before the end of 2024, with topline results expected in the second half of 2026. We also anticipate the initiation of a Phase 2 trial of SGX945 (dusquetide) in Behcet's disease later this year, with topline results expected in the first half of 2025. Lastly, we anticipate topline results from the ongoing Phase 2 trial of SGX302 in mild-to-moderate psoriasis in the first half of 2025.
