Soligenix Announces Recent Updates and Third Quarter 2026 Financial Results

Lower research spending primarily reflected the terminated FLASH2 trial and related HyBryte development activities.

Rhea-AI Summary

Soligenix (Nasdaq: SNGX) reported a narrower third-quarter 2026 net loss as lower research spending and a vendor-liability gain reduced losses. Net loss was $1.1 million, or $0.05 per share, versus $2.5 million, or $0.58 per share, a year earlier. Revenue was zero in both quarters. Research and development expenses fell to $0.4 million from $1.6 million, primarily reflecting the terminated FLASH2 trial and related HyBryte development activities. General and administrative expenses were approximately flat at $1.0 million.

Cash totaled approximately $9.0 million at September 30, 2026; Soligenix believes this funds its current operating plan into the second quarter of 2028. It is advancing SGX945 for Behçet's disease and its ThermoVax vaccine platform while evaluating partnerships, licensing, acquisitions and other opportunities. SGX945 showed signs of biological activity and was generally safe and well-tolerated in a small, open-label Phase 2a study.

7 points · 0 major

PositiveiHow this balance works

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

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How the balance worksHow Sentiment works

0 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointThird-quarter 2026 net loss narrowed to $1.1 million, or $0.05 per share, from $2.5 million, or $0.58.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Approximately $9.0 million cash at September 30, 2026, is expected to fund operations into second-quarter 2028.
• Minor pointThird-quarter research and development expenses fell to $0.4 million from $1.6 million a year earlier.
• Minor pointA gain on extinguishment of vendor liabilities contributed to the lower third-quarter net loss.
• Minor pointSGX945 showed biological activity signs and was generally safe and well-tolerated in a small, open-label Phase 2a study.

2 minor points

• Minor point. Forward-looking: it has not happened yet and may not happen.Pipeline plans include advancing SGX945 for Behçet's disease and the ThermoVax heat-stable vaccine platform.
• Minor point. Forward-looking: it has not happened yet and may not happen.Strategic options under evaluation include partnerships, licensing, mergers and acquisitions, government grants and contracts.

Negative

• Minor pointNo revenue was generated in either the third quarter of 2026 or 2025.
• Minor pointFLASH2 trial termination and related HyBryte development activities primarily drove the decline in research spending.

Key Figures

Revenue: $0 Net loss: $1.1M vs. $2.5M Net loss per share: ($0.05) vs. ($0.58) +3 more

Revenue

$0

Quarters ended September 30, 2026 and 2025

Net loss

$1.1M vs. $2.5M

Quarter ended September 30, 2026 vs. same period in 2025

Net loss per share

($0.05) vs. ($0.58)

Quarter ended September 30, 2026 vs. same period in 2025

Research and development expenses

$0.4M vs. $1.6M

Quarter ended September 30, 2026 vs. same period in 2025; decrease linked to terminated trial and development activities

Cash and cash equivalents

$9.0M

As of September 30, 2026

Operating plan funding

Into Q2 2028

Company's stated expectation based on cash and cash equivalents as of September 30, 2026

Previous Earnings Reports

2 past events · Latest: Aug 07

Same Type 2 events

1. Aug 07

   Q2 earnings

   24h Move

   +3.5%

   Reported quarterly loss and cash figures, discontinued Phase 3 HyBryte, and discussed remaining pipeline.

2. Nov 07

   Q3 earnings

   24h Move

   +7.0%

   Reported Q3 loss, R&D expense, no revenue, and ongoing Phase 3 HyBryte study.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

open-label, proof-of-concept study, gain on extinguishment of vendor liabilities

3 terms

open-label medical

"a small, open-label Phase 2a proof-of-concept study"

Open-label describes a situation where everyone involved in a study or process knows the full details, such as who is receiving a treatment or intervention. For investors, understanding whether a project or product is open-label helps gauge the level of transparency and potential biases, influencing trust and decision-making. It’s like knowing whether a test or experiment is conducted openly or behind closed doors.

proof-of-concept study medical

"Phase 2a proof-of-concept study"

A proof-of-concept study is an early-stage test that checks whether a new drug, device, or treatment produces the intended effect in people or in lab models — like a pilot run to see if an idea actually works. For investors, its results are a key early signal: positive findings can greatly reduce uncertainty and boost a project’s value, while negative results often lead to delays, additional costs, or program termination.

gain on extinguishment of vendor liabilities financial

"and a gain on extinguishment of vendor liabilities."

A gain on extinguishment of vendor liabilities is the profit a company records when it legally settles, cancels, or otherwise discharges amounts owed to suppliers for less than the carrying amount of those payables on the books. It arises when the legal obligation is removed (for example by renegotiation, settlement, or payment with assets of lower value), and the difference between the liability’s carrying amount and the settlement consideration is recognized in the income statement; accounting rules require the liability to be derecognized before any gain is recorded and may require disclosure about the nature and circumstances of the settlement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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PRINCETON, N.J., Nov. 6, 2026 /PRNewswire/ -- Soligenix, Inc. (Nasdaq: SNGX) (Soligenix or the Company), a biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need, announced today its recent updates and financial results for the quarter ended September 30, 2026.

"We are continuing to pursue all strategic options to maximize stockholder value, including within our own rare disease portfolio. This includes advancement of SGX945 (dusquetide) for Behçet's disease, which showed encouraging signs of biological activity and was generally safe and well-tolerated in a small, open-label Phase 2a proof-of-concept study, as well as our ThermoVax^® heat-stable vaccine platform," stated Christopher J. Schaber, PhD, President and Chief Executive Officer of Soligenix. "With approximately $9.0 million in cash and cash equivalents as of September 30, 2026, which we believe is sufficient to fund our current operating plan into the second quarter of 2028, we are evaluating a number of potential opportunities, including but not limited to partnership, licensing, merger and acquisition, government grants and contracts, while advancing our existing pipeline. Maintaining our Nasdaq listing is also an important strategic asset that supports these efforts by preserving access to the public capital markets, enhancing our attractiveness to potential strategic partners and acquirers, and providing additional flexibility as we evaluate these opportunities."

Financial Results – Quarter Ended September 30, 2026

Soligenix had no revenue for the quarters ended September 30, 2026 and 2025.

Soligenix's net loss was $1.1 million, or ($0.05) per share, for the quarter ended September 30, 2026, compared to $2.5 million, or ($0.58) per share, for the same prior year period. This decrease in net loss was primarily due to a decrease in research and development expenses associated with the terminated FLASH2 trial and related HyBryte™ development activities, and a gain on extinguishment of vendor liabilities.

Research and development expenses were $0.4 million for the quarter ended September 30, 2026, as compared to $1.6 million for the same period in 2025. The decrease was primarily due to decreases in costs associated with the terminated FLASH2 trial and related HyBryte™ development activities.

General and administrative expenses were $1.0 million for the quarter ended September 30, 2026 as compared to $1.0 million for the same period in 2025, relatively flat with a de minimis increase.

As of September 30, 2026, the Company had cash and cash equivalents of approximately $9.0 million.

About Soligenix, Inc.

Soligenix is a biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need. Our Specialized BioTherapeutics business segment is developing synthetic hypericin for the treatment of psoriasis (SGX302), and our first-in-class Innate Defense Regulator (IDR) technology, dusquetide, for the treatment of inflammatory diseases, including aphthous ulcers in Behçet's Disease (BD) (SGX945) and oral mucositis in head and neck cancer (SGX942).

Our Public Health Solutions business segment includes development programs for RiVax^®, our ricin toxin vaccine candidate, as well as our vaccine programs targeting filoviruses (such as Marburg and Ebola). The development of our vaccine programs incorporates the use of our proprietary heat stabilization platform technology, known as ThermoVax^®. To date, this business segment has been supported with government grant and contract funding from the National Institute of Allergy and Infectious Diseases (NIAID), the Defense Threat Reduction Agency (DTRA) and the Biomedical Advanced Research and Development Authority (BARDA).

For further information regarding Soligenix, Inc., please visit the Company's website at https://www.soligenix.com and follow us on LinkedIn and X at @Soligenix_Inc.

This press release may contain forward-looking statements that reflect Soligenix's current expectations about its future results, performance, prospects and opportunities, including but not limited to, potential market sizes, patient populations and clinical trial enrollment, the sufficiency of our cash resources and expected cash runway, our evaluation and potential pursuit of strategic alternatives, and our ability to regain compliance with Nasdaq continued listing requirements. Statements that are not historical facts, including statements containing words such as "anticipates," "estimates," "believes," "hopes," "intends," "plans," "expects," "goal," "may," "suggest," "will," "potential," or similar expressions, are forward-looking statements. These statements are subject to a number of risks, uncertainties and other factors that could cause actual events or results in future periods to differ materially from what is expressed in, or implied by, these statements, and include the expected timing and results of clinical trials and the expected timing of regulatory submissions and approvals.  In light of the termination of the FLASH2 study and the HyBryte™ development program, the Company's ability to continue as a going concern will be dependent upon its ability to develop and commercialize its remaining pipeline assets, including dusquetide for the treatment of Behçet's Disease, to identify and acquire or in-license additional product candidates or technologies, and to raise sufficient capital to fund such development and any such acquisitions. There can be no assurance that the Company will be able to obtain financing on acceptable terms, if at all, that suitable acquisition or in-licensing opportunities will be available, or that any of its remaining or future development programs will be successful. If the Company is unable to raise sufficient capital or otherwise advance its remaining assets, it may be required to significantly curtail or cease its operations, sell or otherwise dispose of its assets, or pursue dissolution and liquidation. Soligenix cannot assure you that it will be able to successfully develop, achieve regulatory approval for or commercialize products based on its technologies, particularly in light of the significant uncertainty inherent in developing therapeutics and vaccines against bioterror threats, conducting preclinical and clinical trials of therapeutics and vaccines, obtaining regulatory approvals and manufacturing therapeutics and vaccines, that product development and commercialization efforts will not be reduced or discontinued due to difficulties or delays in clinical trials or due to lack of progress or positive results from research and development efforts, that it will be able to successfully obtain any further funding to support product development and commercialization efforts, including grants and awards, maintain its existing grants which are subject to performance requirements, enter into any biodefense procurement contracts with the U.S. Government or other countries, that it will be able to compete with larger and better financed competitors in the biotechnology industry, that changes in health care practice, third party reimbursement limitations and Federal and/or state health care reform initiatives will not negatively affect its business, or that the U.S. Congress may not pass any legislation that would provide additional funding for the Project BioShield program. In addition, there can be no assurance as to the timing or success of any of its clinical/preclinical trials. Notwithstanding the results observed to date in the Phase 2a clinical trial of SGX302 for the treatment of psoriasis, there can be no assurance as to the timing or success of the clinical trials of SGX302 for the treatment of psoriasis. Additionally, despite the biologic activity observed in aphthous ulcers induced by chemotherapy and radiation, there can be no assurance as to the timing or success of the clinical trials of SGX945 for the treatment of Behçet's Disease. Further, there can be no assurance that RiVax® will qualify for a biodefense Priority Review Voucher (PRV) or that the prior sales of PRVs will be indicative of any potential sales price for a PRV for RiVax®. Also, no assurance can be provided that the Company will receive or continue to receive non-dilutive government funding from grants and contracts that have been or may be awarded or for which the Company will apply in the future. There can be no assurance that the Company will identify or consummate any strategic transaction, or that any such transaction will enhance stockholder value. There can be no assurance that the Company will regain compliance with the Nasdaq minimum bid price requirement or continue to satisfy other Nasdaq continued listing requirements, including the minimum market value of listed securities requirement if it becomes operative, and any delisting of the Company's common stock could adversely affect its liquidity and the Company's ability to raise capital. These and other risk factors are described from time to time in filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, Soligenix's Annual Report on Form 10-K for the year ended December 31, 2025 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026. Unless required by law, Soligenix assumes no obligation to update or revise any forward-looking statements as a result of new information or future events.

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SOURCE SOLIGENIX, INC.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Soligenix's third-quarter 2026 financial results?

Soligenix reported no revenue and a $1.1 million net loss, or $0.05 per share, for the quarter ended September 30, 2026. The comparable 2025 quarter had no revenue and a $2.5 million net loss, or $0.58 per share.

How long does Soligenix expect its cash to fund operations?

Soligenix believes its approximately $9.0 million in cash and cash equivalents at September 30, 2026, is sufficient to fund its current operating plan into the second quarter of 2028.