aibioSoligenix adds $2,500,000 to its at-the-market sales agreement
Tickers SNGX
Soligenix filed a prospectus supplement raising the maximum under its January 23, 2026 sales agreement with Rodman & Renshaw LLC by $2,500,000.
Key facts
- Company
- Soligenix, Inc. (NASDAQ: SNGX)
- News type
- Financings
- Primary source
- Soligenix, Inc. 8-K (2026-06-26)
Soligenix, Inc. filed a prospectus supplement on June 26, 2026 that increases by $2,500,000 the maximum aggregate offering amount of common stock it can sell under its At Market Issuance Sales Agreement with Rodman & Renshaw LLC. The agreement is dated January 23, 2026. The company reported the change in a Form 8-K filed the same day, signed by Christopher J. Schaber, Ph.D., President and Chief Executive Officer.
The at-the-market program
The sales agreement lets Soligenix sell shares of its common stock, par value $0.001 per share, through Rodman & Renshaw LLC in at-the-market offerings. The 8-K says the company previously sold approximately $6,234,000 of shares under the agreement, using prior prospectus supplements that covered up to an aggregate of $6,406,000 of common stock. The June 26 supplement adds $2,500,000 on top of that amount.
The legal opinion on the legality of the additional $2,500,000 of shares is filed as Exhibit 5.1 to the 8-K. The exhibit is an opinion of Duane Morris LLP, which also consented to its use. The 8-K does not state the commission paid to the sales agent.
What the company does
In its annual report on Form 10-K filed March 31, 2026, Soligenix describes itself as a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases with an unmet medical need. The company has two active business segments.
The Specialized BioTherapeutics segment is developing HyBryte, a proposed proprietary name for synthetic hypericin sodium. HyBryte is a photodynamic therapy that uses topical synthetic hypericin activated with safe visible light for the treatment of cutaneous T-cell lymphoma, or CTCL. The annual report calls the first Phase 3 study, called FLASH, successful and cites positive primary endpoint results. The company began patient enrollment in a second Phase 3 study, called FLASH2, during December 2024, after agreement from the European Medicines Agency on the key design components of that confirmatory trial. The company anticipates top-line results from FLASH2 in the second half of 2026.
The segment also plans to expand synthetic hypericin into psoriasis and to develop dusquetide, an Innate Defense Regulator technology, in Behcet's Disease and in oral mucositis in head and neck cancer. For oral mucositis, the annual report says the UK regulator, the MHRA, told the company that a second Phase 3 trial would be required to support a marketing authorization.
The Public Health Solutions segment includes development programs for RiVax, a ricin toxin vaccine candidate, and for SGX943, a therapeutic candidate for antibiotic resistant and emerging infectious disease. It also includes filovirus vaccine programs and CiVax, a COVID-19 vaccine candidate. The annual report says the segment has been supported with government grant and contract funding from the National Institute of Allergy and Infectious Diseases, the Biomedical Advanced Research and Development Authority and the Defense Threat Reduction Agency.
Financial position
The company's reported figures show research and development expense of $7.5 million for the fiscal year ended December 31, 2025, compared with $5.2 million for 2024. The net loss was $11.1 million for 2025 and $8.3 million for 2024. Cash from operations was negative $10.3 million for 2025 and negative $8.4 million for 2024. Revenue was $119,371 for 2024. These figures come from the annual report filed March 31, 2026.
What comes next
The annual report says approval will be sought after FLASH2. It also says the company is still talking with the FDA about changes to the development path to address the agency's feedback, so the regulatory route is not settled. That report was filed March 31, 2026, and this 8-K gives no update on the FLASH2 timetable.
The money side is thin. The annual report shows cash from operations of negative $10.3 million for 2025 against a net loss of $11.1 million, and revenue was only $119,371 in 2024. The company has now added to its stock sales ceiling more than once, and each sale puts more shares into the market. The 8-K does not say how much of the new $2,500,000 the company expects to sell, or when, and it gives no share count.