Alliance Global Partners Raises Soligenix Inc. Price Target Amid Clinical Progress
Alliance Global Partners has increased Soligenix Inc.'s price target to $10 per share, citing advancements in its clinical programs for rare diseases.
Alliance Global Partners (AGP) has recently maintained its Buy rating for Soligenix Inc. (NASDAQ: SNGX) and raised the price target to $10 per share, reflecting confidence in the biopharmaceutical company's clinical programs. This adjustment is primarily based on the growing valuation of HyBryte(TM), Soligenix's treatment for early-stage cutaneous T cell lymphoma (CTCL), and the potential of SGX945 for Behçet’s disease.
The report highlights that Soligenix's phase 3 FLASH2 trial, investigating HyBryte in CTCL patients, is progressing as planned, with topline results expected next year. The FLASH2 study extends the treatment duration to 18 weeks, compared to the six-week duration in the initial FLASH trial, aiming to further validate the efficacy of HyBryte.
Additionally, Soligenix has reported promising data from its phase 2a study of SGX945 for aphthous ulcers in Behçet’s disease. The study met its objective by demonstrating biological efficacy, with SGX945 showing outcomes comparable or superior to Amgen’s Otezla(R) in reducing oral ulcers. The effects of SGX945 persisted through weeks 5–8, even after dosing ceased at the fourth week.
AGP's valuation of Soligenix at $10 per share is grounded in expectations for the HyBryte launch in 2028 and subsequent sales growth, projecting U.S. sales of $75 million by 2035. The firm also anticipates SGX945 could achieve $50 million in sales by 2035 for Behçet’s disease treatment. Furthermore, Soligenix's potential to secure a U.S. government contract for RiVax(R) production adds to the optimistic outlook.
For more details on AGP's report, visit https://ibn.fm/6zX9x. Soligenix continues to advance its portfolio of treatments for rare diseases, leveraging its expertise in biopharmaceutical innovation to address unmet medical needs.