Soligenix (SNGX) Registration Filing summary

Company overview and business model

• Operates as a late-stage biopharmaceutical company with two segments: Specialized BioTherapeutics and Public Health Solutions.

• Specialized BioTherapeutics focuses on HyBryte™ for cutaneous T-cell lymphoma (CTCL), SGX302 for psoriasis, and dusquetide-based therapies for inflammatory diseases.

• Public Health Solutions develops vaccines and therapeutics for ricin toxin, filoviruses (Ebola, Marburg), and COVID-19, leveraging proprietary ThermoVax® technology.

• Business strategy includes advancing clinical trials, seeking regulatory approvals, expanding indications, and pursuing government/non-government funding.

Financial performance and metrics

• As of March 31, 2024: cash and cash equivalents of $7.1M, working capital of $0.6M, and total liabilities of $7.3M.

• Net loss for Q1 2024 was $1.9M, with revenues of $0.12M, primarily from government grants.

• FY 2023 net loss was $6.1M, down from $13.8M in 2022, with $0.84M in revenues and $7.8M in operating expenses.

• Accumulated deficit of $227.6M as of March 31, 2024; substantial doubt exists about ability to continue as a going concern without new funding.

Use of proceeds and capital allocation

• Will not receive proceeds from resale of shares by selling stockholders; may receive up to $6.3M if July 2024 Warrants are exercised for cash.

• Proceeds from warrant exercises will fund R&D, commercialization, working capital, and potential debt repayment.

• Recent $4.75M public offering in April 2024 to support programs and working capital.