Soligenix shares are trading higher after the company announced that it was granted orphan drug designation to the active ingredient in MarVax for the prevention and post-exposure prophylaxis against MARV infection by the FDA.
Portfolio Pulse from Benzinga Newsdesk
Soligenix shares surged following the FDA's grant of orphan drug designation to MarVax's active ingredient for MARV infection prevention and post-exposure prophylaxis. This designation could potentially accelerate MarVax's development and approval process, highlighting Soligenix's commitment to addressing rare diseases.
April 15, 2024 | 11:37 am
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The FDA's orphan drug designation for MarVax's active ingredient is a significant milestone for Soligenix, potentially speeding up its development and approval process, and underscoring the company's dedication to rare diseases.
The orphan drug designation by the FDA is a positive development for Soligenix, likely leading to increased investor confidence and potential stock price appreciation in the short term. This designation can provide benefits such as tax credits, eligibility for market exclusivity, and assistance in the drug development process, all of which can enhance the company's value and appeal to investors.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100