Alliance Global Partners (AGP) has reaffirmed its Buy rating for Soligenix Inc. (NASDAQ: SNGX), a biopharmaceutical company specializing in rare diseases, while elevating the price target to $10 per share. This adjustment reflects the growing valuation of HyBryte(TM), Soligenix's treatment for early-stage cutaneous T cell lymphoma (CTCL), and the emerging potential of SGX945 for Behçet’s disease.
The report highlights the phase 3 FLASH2 trial's progress, with topline results expected next year. This trial builds upon the initial FLASH study, extending the treatment duration to 18 weeks from six. Additionally, Soligenix has reported promising data from a phase 2a study of SGX945 for Behçet’s disease, showing efficacy comparable or superior to Amgen’s Otezla(R) in reducing oral ulcers.
AGP's valuation anticipates a 2028 launch for HyBryte, projecting U.S. sales of $75 million by 2035 and international sales of $50 million by 2036. The report also forecasts $50 million in sales for SGX945 by 2035 and a potential $25 million U.S. government contract for RiVax(R), Soligenix's ricin toxin vaccine candidate.
For more details on AGP's analysis, visit https://ibn.fm/6zX9x. Soligenix's advancements in rare disease treatments underscore the importance of continued investment and research in biopharmaceutical innovations, offering hope for patients with limited therapeutic options.
