Vista Partners has initiated detailed coverage on Soligenix Inc (OTCBB:SNGX) and issued a price target of $7.00 a share. Ross Silver, an Analyst at Vista, announced that Soligenix has a wide product pipeline with ten promising drug candidates. It also covers a Phase 3 ready asset trial set to commence in early 2015. Recently, Phase 2 data on SGX942 received promising recommendations from DRC, which is a clinical drug medication for cure of Oral Mucositis.
In the U.S., Mucositis attacks almost 500,000 people annually. It is reported in more than 40% of people undergoing chemotherapy treatment. The concept behind the Soligenix’s prospective medication remains to be validated by a number of influential and important bodies such as big pharmaceutical firms and government entities. The firm received several government grants and cracked several strategic deals. Soligenix has almost $57 million in active government agreements and grant funding enough to support its associated research through 2018.
The research findings
Soligenix Inc (OTCBB:SNGX) is a clinical and late stage Biopharma firm based in New Jersey. In February 2015, it reported new preclinical study data on the safety and efficacy of its drug candidate RiVax™. The data was highlighted in a poster session at the ASM in Washington, DC. In the study, twelve animals were given RiVax™ and six animals were treated with placebo. Also, each of them was injected with three intramuscular, at the time interval of 0, 30 days and 60 days.
The positive outcome
The study of RiVax™ concluded that it was well tolerated, and there were no incidences of increased heart rate, temperature or elevated respiration. All vaccinated animals had neutralizing antibodies after their third injection. They were even tested with an aerosol of ricin toxin so as to evaluate the efficacy of the vaccine. It came positive as the vaccinated animals’ survived highlighting efficacy of treatment.