Soligenix, Inc. reported its financial results for the third quarter ended September 30, 2024, on November 8, 2024. The company recorded a net loss of $1.7 million for the quarter, consistent with the net loss reported in the prior-year period.
Revenue for the quarter was negligible, compared to $0.1 million for the same period in 2023, primarily related to government contracts and grants. Research and development expenses increased to $1.0 million from $0.8 million in the prior year, driven by costs associated with the initiation of the Phase 2 study in Behçet's Disease and the second confirmatory Phase 3 CTCL trial.
As of September 30, 2024, Soligenix held approximately $9.8 million in cash. The company remains focused on advancing its clinical programs, including the planned initiation of the confirmatory Phase 3 HyBryte™ study for CTCL and a Phase 2 study for SGX945 in Behçet's disease before year-end.
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