Advertisement
U.S. markets close in 15 minutes
  • S&P 500

    5,258.39
    +9.90 (+0.19%)
     
  • Dow 30

    39,821.31
    +61.23 (+0.15%)
     
  • Nasdaq

    16,389.34
    -10.18 (-0.06%)
     
  • Russell 2000

    2,122.85
    +8.50 (+0.40%)
     
  • Crude Oil

    83.07
    +1.72 (+2.11%)
     
  • Gold

    2,239.70
    +27.00 (+1.22%)
     
  • Silver

    24.97
    +0.21 (+0.86%)
     
  • EUR/USD

    1.0791
    -0.0039 (-0.36%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • GBP/USD

    1.2622
    -0.0016 (-0.13%)
     
  • USD/JPY

    151.3970
    +0.1510 (+0.10%)
     
  • Bitcoin USD

    70,860.34
    +2,340.41 (+3.42%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,168.07
    -594.66 (-1.46%)
     

Featured Company News - Soligenix Receives $2.5 million in Additional NIAID Funding to Advance Development of Heat Stable Ricin Vaccine

Research Desk Line-up: Cyclacel Pharma Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 16, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Soligenix, Inc. (NASDAQ: SNGX), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=SNGX. The Company announced that the National Institute of Allergy and Infectious Diseases (NIAID) has exercised an option to fund GMP (good manufacturing practices) compliant RiVax® bulk drug substance and finished drug product manufacturing required for the conduct of future preclinical and clinical safety and efficacy studies. NIAID is a part of the National Institutes of Health (NIH). For immediate access to our complimentary reports, including today's coverage, register for free now at:

http://protraderdaily.com/register/

Discover more of our free reports coverage from other companies within the Biotechnology industry. Pro-TD has currently selected Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC) for due-diligence and potential coverage as the Company reported on August 09, 2017, its financial results and business highlights for Q2 2017 which ended on June 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Cyclacel Pharma when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SNGX; also brushing on CYCC. Go directly to your stock of interest and access today's free coverage at:

http://protraderdaily.com/optin/?symbol=SNGX

http://protraderdaily.com/optin/?symbol=CYCC

Aims to Advance the Development of ThermoVax® and RiVax®

The main objective of this contract is to advance the development of Soligenix's thermo stabilization technology, ThermoVax®, in combination with its ricin toxin vaccine, RiVax®, as a medical countermeasure to prevent the effects of ricin exposure.

RiVax® is Soligenix's proprietary heat stable recombinant subunit vaccine created to protect against exposure to ricin toxin. RiVax® has made Soligenix a world leader in the area of ricin toxin vaccine research. Heat stabilization of RiVax® is attained through the Company's proprietary ThermoVax® technology, which has been designed to eradicate the cold-chain production, distribution, and storage logistics required for most vaccines. Due to the use of ThermoVax® during the final formulation of RiVax®, the vaccine has showed enhanced stability and the ability to withstand temperatures as high as 40 degrees Celsius (i.e. 104 degrees Fahrenheit) for up to one year.

Total Funding of nearly $25 million by NIAID

The development of RiVax® has been sponsored through a series of grants from both NIAID and the US Food and Drug Administration (FDA), which were granted to Soligenix and to the University of Texas Southwestern (UTSW), where the vaccine protein originated. In fact, RiVax® has already received the orphan drug designation from the FDA.

The exercised option for contract #HHSN272201400039C is expected to provide Soligenix an additional non-dilutive funding of nearly $2.5 million. This would bring the total amount awarded under contract till date to $21.2 million. In fact, if all contract options are exercised the total award of $24.7 million will assist the preclinical, manufacturing, and clinical development activities needed to advance heat stable RiVax® with the FDA.

Soligenix Acknowledges NIAID for its Continued Support

Christopher J. Schaber, PhD, President and Chief Executive Officer of Soligenix, commented that the exercise of this option exhibits the positive and productive collaboration between NIAID and the Soligenix team. He stated that with this recent option exercise by NIAID along with the one exercised in June, the Soligenix's team now has about $4.5 million in additional non-dilutive funding. This will enable the Company to proceed with both GMP manufacture and preclinical efficacy studies.

Schaber looks forward to fast-tracking this crucial work with NIAID and engaging the FDA to advance the RiVax® program. He also acknowledged the NIAID's team for its continued support and contribution to the Soligenix development program.

About Soligenix, Inc.

Soligenix is a late-stage biopharmaceutical company, which works on developing and commercializing products to treat rare diseases where there is an unmet medical need.

Last Close Stock Review

On Tuesday, August 15, 2017, the stock closed the trading session at $2.29, falling 1.26% from its previous closing price of $2.32. A total volume of 132.17 thousand shares have exchanged hands. Since the start of the year, shares of Soligenix have gained 1.81%. The stock currently has a market cap of $14.27 million.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

Advertisement