The Soligenix Inc. (NASDAQ: SNGX) closed on 4th March at $1.70 which is a 5.59% rise from a prior close of $1.61. The stock price soared during the last session to $1.72 while the opening price was $1.66.
How has the SNGX stock been moving in the past?
The SoligenixInc.(SNGX) has seen volatility in its market performance and stock movement. Let’s look at its full-year performance. When compared to the high price in the past year ($3.18) the value of the current stock is 45.9% behind and it is 42.15% higher than the lowest value ($1.21) for the same year. It totaled a volume trade of 29,150,882 shares compared to the average volume of 4.06 million, EST 2:00.
Why CiVaxtm vaccine pre-clinical development is both positive and significant news
The Company is a biotech pharmaceutical that focuses in developing and commercializing medical products for treating diseases of the rare sort.SoligenixInc. (SNGX) focuses on two areas. One of the two focuses is a specialized biotherapeutics segment with which they can help cure rare diseases. The second of the two focuses is a public health solution segment to specifically develop vaccines and biotherapeutics for military and civilian patients.
One of the main reasons that there was positive growth in the stock movement could be due to the company’s announcement of publication on Thursday for pre-clinical immunogenicity studies for its latest working on the CiVax; it is a heat-stable COVID-19 vaccine. But with news of vaccine production already out there rolling out since the start of the year by Moderna, Pfizer, and BioTech’s emergency approved vaccine, (and Johnson & Johnson now joining the show), you might wonder how significant could Solinginex’s news of initial testing of vaccine be?
The answer is, very significant because CiVax is being produced to have 3 important traits that could have a game-changing impact in the vaccinations of COVID-19:
- CiVaxTMwill have a heat-stable COVID-19 vaccine program: The vaccine is essentially going to be in dried out powder form (by turning liquid vaccine into solid) in a vial and can retransformed into liquid form at the time of injection by simply adding sterile water to it. This allows the powdered form to be stored at elevated temperatures and makes logistical administration and shipping very efficient and conveniently cheap.
- Feasible broad-spectrum immunogenic vaccine: The publications confirm that CiVaxis demonstrating rapid-onset neutralization of antibody and cell-mediated immunity. One of the most important features of a vaccine from a clinical-testing point-of-view is for it to focus on antibody response and antibody induction. This is done here by using CiVax antigen which is a fully-length Spike protein, made by using an efficient express system of a fruit-fly cell line (specifically Drosophila S2 cells). CiVax is used in combination with CoVaccine HT for the SARS-CoV-2.
According to previous work on CoVaccine HT adjuvant, the thermostabilization can be done both in combination with antigens or without in a potential single vial form.
- No need for cold-storage units: All of the initially emergency approved vaccine doses need to be stored at lower temperature from the moment they are manufactured until they are injected to a patient. Slight change in temperature exposure can vary the changes in the vaccine’s potency. For this ultra-cold storages are to be used that store the doses between -4 degree F and -94 degree F. So this is the logistical problem which is mainly causing the issue raised globally about the efficacy of transporting and administering vaccines to the poor-countries. Countries will have to implement heavy logistical costs of using cold-chain supply and buying ultra-cold storage units for storing the vaccine.
However, with the CiVax having a thermostability component, it has the potential to save billions of dollars for procurement and global shipping distribution for poor countries as well.
Recent pipeline projects show Soligenix (SNGX) is firing on all cylinders
Soligenix (SNGX) issued a statement on 23rd February where it shared more good news of a biotherapeutic new drug application (NDA) submission to be fast-tracked for SGX301 (synthetic hypericin) which is designed to ease the pain of people suffering from the effects of cutaneous T-Cell lymphoma (CTCL). This synthetic hypericin will be potentially known as HyBrytefollowed by FDA approval and has been given fast-track designation.
The Peak US sales for SGX301 are estimated at $90 million. Roughly 25,000 Americans are currently suffering from this disease and 40,000 NHL patients worldwide. The SGX301 is aimed to be used for early-stage CTCL patients to slow the progression of the disease. Almost 90% of the CTCL population is diagnosed with early-stage CTCL. Soligenix (SNGX) is also expecting that dermatologists will be treating this early-stage chronic cancer with SGX301 since it is a typical ointment activated by visible fluorescent light and can potentially be administered by patients in their home, removing frequent hospital trips.
Soligenix’s operational performance is positive!
The CEO of Soligenix (SNGX) Dr. Christopher Schaber, believes that the company has the necessary cash reserves and resources to commercialize the product and market it in the US on their own especially with having the orphan market status. The biotech company shows that us that it has hugely impactful projects in the pipeline of the company that depict operational efficiency and sound financial management, along with diverse customer base including the US government as primary buyer. These fundamentals show promises of a possible positive growth plus sustainability in its stock prices and reduction in volatility. Investors in Biotech firms will definitely be keeping a close look for further positive news and publications from Soliginex for an investment point of view.