Why Is Rare Disease Focused Soligenix Stock Soaring Today?
Portfolio Pulse from Vandana Singh
Soligenix Inc (NASDAQ:SNGX) stock surged after announcing a publication on the preclinical efficacy of its novel bivalent vaccine, which showed 100% protection against SUDV and MARV infections. The vaccine is stable at high temperatures and there are currently no approved vaccines or therapeutics for these infections. The company's IND application for SGX945 was also cleared by the FDA for a Phase 2a clinical trial. SNGX shares rose 33.20% to $1.01.
January 02, 2024 | 3:05 pm
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POSITIVE IMPACT
Soligenix Inc's stock jumped following the announcement of a successful preclinical trial for its bivalent vaccine against SUDV and MARV, and FDA clearance for a Phase 2a trial for SGX945.
The positive results from the preclinical trial of the bivalent vaccine and the FDA's clearance for the Phase 2a trial of SGX945 are significant developments for Soligenix. These milestones are likely to boost investor confidence and could lead to increased investment, driving the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100