Soligenix, Inc. (SNGX.OB) 2009 Data Reports Show Strong Fundamentals, Massive Growth Potential
Soligenix, Inc., an established biopharma company specializing in products which offset the potentially fatal side effects of many oncology treatments and severe diseases in the gastrointestinal system, as well as vaccines tailored for counter-bioterrorism applications, announced FY 09 results today. Revenue was up 22% ($506k) to $2.2M from 08 on strength of a $1M clinical milestone outlay from Sigma-Tau Pharmaceuticals Inc. (Sigma-Tau) in relation to a collaborative Phase 3 (randomized, double-blind, placebo-controlled) clinical trial of orBec® for gastrointestinal Graft-versus-Host disease (GI GVHD). SNGX also completed a partnering agreement with Sigma-Tau regarding NA commercialization and deployment of orBec® and oral BDP…