Soligenix Inc (SNGX)

[BooDog]

Catalysts getting closer here.

Clinical testing of HyBryte™ has yielded consistently positive results. It works by applying fluorescent light to topical synthetic hypericin, and in a Phase 3 study it showed a rapid treatment response in six weeks and sustained responses after twelve and eighteen weeks that produced significant improvement for half of the trial participants. Soligenix anticipates submitting a new drug application (NDA) to the FDA for HyBryte™ to treat CTCL in H2 2022.

The trials have been so effective that Soligenix is now exploring a second disease indication, with synthetic hypericin (SGX302), for the treatment of psoriasis. A Phase 1/2 pilot study was previously conducted to demonstrate proof of concept and a Phase 2a clinical trial is being initiated later this year. According to Fortune Business Insights, the global psoriasis treatment market is projected to reach nearly $40.6 billion in the next five years.