Soligenix, Inc. announced its financial results for the first quarter ended March 31, 2025, on May 9, 2025. The company reported no revenue for the quarter, a decrease from $0.1 million in the prior-year period, primarily due to a reduction in revenue associated with a zero-margin grant.
The net loss for the quarter increased to $3.2 million, or ($1.06) per share, compared to $1.9 million, or ($2.91) per share, for the first quarter of 2024. This widening loss was mainly driven by an increase in operating expenses related to ongoing clinical trials and higher third-party manufacturing costs, with R&D expenses rising to $2.2 million from $1.1 million.
As of March 31, 2025, Soligenix's cash position was approximately $7.3 million, which is projected to provide an operating runway only through December 2025. The company continues to evaluate strategic options, including partnerships and financing opportunities, to advance its late-stage pipeline and address liquidity concerns.
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