Vista Partners announced that it has initiated coverage on Soligenix Inc (OTCBB:SNGX) and maintains its price target of $7.00 per share. Ross Silver, a Principal Analyst at Vista, said that the company has a diverse product pipeline with ten leading drug candidates. It includes a Phase 3 ready asset trial slated to commence in early 2015. Also, Phase 2 data study on SGX942 received encouraging recommendations from DRC. It is clinical drug candidate for cure of Oral Mucositis.
Mucositis affects almost 500,000 people in the United States annually. It occurs in more than 40% of patients undergoing chemotherapy treatment. The science behind the Soligenix’s prospective treatment has been and remains to be validated by several significant, influential and important entities such as major pharmaceutical firms and government organizations. The company received numerous government grants and finalized several strategic deals. It has up to $57 million in active government deals and grant funding still there to fund its associated research studies through 2018.
Soligenix Inc (OTCBB:SNGX) is a clinical stage Biopharma company based in New Jersey. Last month, it presented new preclinical trial data that highlighted the safety and efficacy of its RiVax™. In a non-human primate model. The results were presented in a poster session at the ASM held in Washington, DC. Under the trial, twelve animals were treated with RiVax™ and six animals were injected placebo. Also, each animal was given three intramuscular injections, at time 0, 30 days and 60 days.
The drug candidate of Soligenix, RiVax™ was well tolerated and there were no cases of elevated heart rate, temperature or respiration. All vaccinated animals showed neutralizing antibodies after they were given third injection. All animals were even exposed to an aerosol of ricin toxin so as to assess the efficacy of the vaccine. The animals survived indicating efficacy of treatment.