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      What Do The SNGX Stock Declines On In Premarket? - Stocks Telegraph

      By ST Staff

      Published on

      July 7, 2021

      11:12 AM UTC

      What Do The SNGX Stock Declines On In Premarket? - Stocks Telegraph

      As of today’s premarket session, shares of Soligenix Inc. (SNGX) have fallen by -9.16% to $1.19. Soligenix stock added 25.96% to finish the last trading session at $1.31. In the last five days, SNGX stock shares declined 13.93%, but over the last month, they gained 21.30%. Over the last three months, SNGX stock price has fallen by 17.09 percent, and this year so far it has fallen by 31.05 percent. In premarket trading, SNGX stock is falling as investors are seen to be taking profits off of gains made in yesterday’s trading.

      SNGX rose in regular session for what reason?

      As a biopharmaceutical company, Soligenix focuses on the development and marketing of products for the treatment of rare diseases where there is a medical need. The Specialized BioMarketing business segment of SNGX is developing and exploring the potential commercialization of HyBryte, which is a novel photodynamic therapy utilizing safe visible light to treat cutaneous T-cell lymphomas (CTCL). The Phase 3 study for this product candidate has been completed successfully, and SNGX is seeking approval to advance commercialization activities.

      Yesterday, PCG Digital published an interview with Dr. Ellen Kim, Lead Principal Investigator for Soligenix. At the United States Cutaneous Lymphoma Consortium (USCLC) Annual Meeting, she presented key details of the Phase 3 FLASH study for Soligenix in CTCL that recently showed significant efficacy and safety data for HyBryte. After the meeting, Dr. Kim was interviewed concerning the HyBryte data and current CTCL treatment options.

      At the USCLC Annual Meeting scheduled for June 26, 2021, Dr. Kim presented critical details about efficacy and safety profile of Soligenix’s HyBryte, demonstrated in the FLASH study.

      • HyBryte was studied in detail at SNGX, which showed it to be safe and effective in the vast majority of CTCL patients.
      • As part of the study, SNGX presented a comparison between the study data and current treatment options.
      • SNGX’s FLASH trial has recruited 169 patients, making it the largest multicenter, randomized, double-blind, placebo-controlled study in CTCL to date.
      • SNGX developed HyBryte so that it would be a safer alternative to currently available therapies, which all have significant and sometimes fatal side effects.
      • There is no suitable front-line therapy at present, and the currently approved treatments only exist after previous treatments have failed.

      What it means for SNGX?

      In a landscape with many competitive players, Soligenix (SNGX) may have a greater opportunity in CTCL treatment, since HyBryte might represent the most efficacious treatment available that is also as safe as possible. To date, SNGX has found no evidence of any potential safety issues in that product due to its lack of systemic absorption, nonmutagenic compound, and carcinogenic light source.

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