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Why Soligenix, Inc. (SNGX) Is Surging 16% In Pre-Market Session?

The biopharmaceutical company Soligenix, Inc. (Nasdaq: SNGX) has been surging +18.63% in the pre-market session today. As of 08:55 a.m. EST, the stock was buoying at $1.88 after gaining +0.27 on the trades of 11.05M shares.

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Soligenix focuses on developing, manufacturing and selling products for treating unmet medical needs related to rare diseases. Soligenix announced today the publication of pre-clinical immunogenicity studies for its heat stable COVID-19 vaccine program CiVax. The article has been published as an accelerated preprint on bioRxiv under the title:

“Recombinant protein subunit SARS-CoV-2 vaccines formulated with CoVaccine HT adjuvant induce broad, Th1 biased, humoral and cellular immune responses in mice”

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CiVax vaccination showed rapid-onset, broad-spectrum immunity with neutralizing antibodies, and antigens of the full-length Spike protein are used to confirm that antigen-mediated immunity is possible. Soligenix was awarded a $1.5M Small Business Innovation Research (SBIR) grant in December 2020, and the company will continue this program under that award.

As a result of its heat-stabilization subunit feature, CiVax is the Company’s high-quality candidate for COVID-19 prevention. Axel Lehrer, Ph.D. is an Associate Professor in the Department of Tropical Medicine, Medical Microbiology and Pharmacology, John A. Burns School of Medicine (JABSOM), the University of Hawaiʻi at Mānoa. Collaborations with Dr. Axel Lehrer have currently been demonstrating the possibility of making a vaccine against COVID-19 which is widely immunogenic.

The full-length Spike protein antigens have been produced and tested for immunogenicity in this latest study using a system developed by Hawaii Biotech Inc. utilizing an efficient expression system in Drosophila S2 cells. Recent results indicate that in combination with CoVaccine HT, the full-length CiVax antigen has immunogenic potential, especially in the context of COVID-19.

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Soigenix has licensed CoVaccine HT from Boston Scientific Corporation subsidiary BTG Specialty Pharmaceuticals. CoVaccine HT adjuvant has demonstrated thermostability both alone and in combination with antigens during the process of previous work. One vial presentation of the vaccine will be possible, and no cold chain distribution or storage would be required.

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