Soligenix Announces Closing of $7.5 Million Public Offering

Core Viewpoint - Soligenix, Inc. has successfully closed a public offering, raising approximately $7.5 million, which extends its cash runway through the end of 2026 to support key development milestones in its biopharmaceutical projects [1][3]. Funding and Financial Details - The company sold 5,555,560 shares of common stock and warrants at a combined price of $1.35 per share [1]. - The warrants have an exercise price of $1.35 per share, are immediately exercisable, and will expire five years from the issuance date [1]. - The net proceeds from the offering will be allocated to research and development, commercialization activities, working capital, and general corporate purposes [3]. Existing Warrants Amendment - Certain existing warrants from May 2023, April 2024, and July 2024 will be amended to have a reduced exercise price of $1.35 per share, aligning their expiration with the new warrants sold in the offering [2]. Company Overview - Soligenix is a late-stage biopharmaceutical company focused on developing treatments for rare diseases with unmet medical needs [6]. - The company is advancing its Specialized BioTherapeutics segment, particularly HyBryte™ (SGX301), aimed at treating cutaneous T-cell lymphoma, and is seeking regulatory approvals following successful Phase 3 study results [6]. - The Public Health Solutions segment includes vaccine development programs for ricin toxin, filoviruses, and COVID-19, supported by government funding [7].