aibioSoligenix stockholders approve reverse split authority and share increase
Tickers SNGX
At its September 17, 2026 annual meeting, stockholders approved a reverse split at a ratio of 1-for-2 to 1-for-20 and raised authorized common shares from 75,000,000 to 125,000,000.
Key facts
- Company
- Soligenix, Inc. (NASDAQ: SNGX)
- News type
- Listings
- Primary source
- Soligenix, Inc. 8-K (2026-09-21)
Soligenix, Inc. reported in a Form 8-K filed September 21, 2026 that stockholders approved a reverse stock split and an increase in the company's authorized common stock at its 2026 annual meeting, held September 17, 2026. The company said the charter amendment increasing authorized shares became effective upon filing with the Delaware Secretary of State on September 17, 2026. The filing was signed by Christopher J. Schaber, Ph.D., President and Chief Executive Officer.
The reverse split and the share increase
Stockholders approved an amendment to the company's charter that lets the board effect a reverse stock split of the issued and outstanding common stock at a ratio between 1-for-2 and 1-for-20. The board sets the ratio and must include it in a public announcement. The authority can be used for up to one year. The vote was 8,068,017 for, 2,273,350 against and 269,278 abstaining, with no broker non-votes.
A separate proposal increased authorized common stock from 75,000,000 shares to 125,000,000 shares. That proposal received 8,214,549 votes for, 1,877,014 against and 519,082 abstaining, with no broker non-votes.
The other votes
Five nominees were elected as directors to serve until the 2027 annual meeting: Christopher J. Schaber, Ph.D., Gregg A. Lapointe, CPA, MBA, Diane L. Parks, MBA, Robert J. Rubin, MD, and Jerome B. Zeldis, MD, Ph.D. There were 7,470,895 broker non-votes in the director election.
Stockholders approved, on an advisory basis, the compensation of the named executive officers, with 2,658,319 votes for and 416,320 against. Stockholders also ratified the appointment of Cherry Bekaert LLP as the independent registered public accounting firm for the year ending December 31, 2026, with 9,833,435 votes for and 414,426 against.
The sales agreement with Rodman & Renshaw
The 8-K also reports a change to the company's at-the-market program. On June 26, 2026, Soligenix filed a prospectus supplement to increase by $2,500,000 the maximum aggregate offering amount of common stock issuable under an At Market Issuance Sales Agreement dated January 23, 2026 with Rodman & Renshaw LLC. The company says it previously sold approximately $6,234,000 of shares under the agreement, under prior prospectus supplements covering up to $6,406,000. The legal opinion covering the additional $2,500,000 of shares is filed as Exhibit 5.1.
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 rare diseases. It has two business segments. Specialized BioTherapeutics is developing HyBryte, a proposed name for synthetic hypericin, a photodynamic therapy for cutaneous T-cell lymphoma. The company began enrolling patients in a second Phase 3 study, called FLASH2, in December 2024, and it anticipates top-line results in the second half of 2026.
The Public Health Solutions segment includes vaccine and therapeutic programs, among them RiVax, a ricin toxin vaccine candidate, and a filovirus vaccine program. These programs have been supported with government grant and contract funding from the National Institute of Allergy and Infectious Diseases and other agencies.
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.
The quarterly report filed August 7, 2026 shows year-end cash and cash equivalents of $7.9 million for 2025 and $7.8 million for 2024. Cash and cash equivalents were $9.8 million at June 30, 2026.
The risks ahead
The board has discretion over whether to use the reverse split authority, which runs for up to one year. Raising authorized shares from 75,000,000 to 125,000,000 leaves room to issue more stock, and the company has already sold about $6,234,000 of shares under its sales agreement and raised that program by $2,500,000. Cash from operations was negative $10.3 million for 2025, against cash and cash equivalents of $9.8 million at June 30, 2026. The company says top-line FLASH2 results are expected in the second half of 2026 and that approval would still need to be sought.