PRINCETON, N.J., May 24, 2024
/PRNewswire/ -- Soligenix, Inc. (Nasdaq: SNGX) (Soligenix or
the Company), a late-stage biopharmaceutical company focused on
developing and commercializing products to treat rare diseases
where there is an unmet medical need, announced today that its 2024
Annual Meeting of Stockholders (the "Annual Meeting") scheduled for
and convened on May 23, 2024 has been
adjourned for the purpose of soliciting additional votes with
respect to the proposals described in the Company's definitive
proxy statement for the Annual Meeting filed with the Securities
and Exchange Commission (the "SEC") on April
29, 2024.
The required quorum for the transaction of business at the
Annual Meeting is a majority of the voting power of shares of
common stock issued and outstanding on the record date. There was
less than the required voting power represented in person or by
proxy at the meeting. The Annual Meeting will be reconvened on
May 30, 2024 at 9:00 a.m. Eastern Time and will continue to be
held virtually via live audio-only webcast at
www.virtualstockholdermeeting.com/sngx2024.
The record date for determination of stockholders entitled to
vote at the reconvened Annual Meeting remains the close of business
on April 10, 2024. At the time the
Annual Meeting was adjourned, proxies had been submitted by
stockholders representing approximately 48% of the shares of the
Company's common stock issued and outstanding as of the record
date.
Stockholders as of close of business on April 10, 2024, the record date for the Annual
Meeting, are encouraged to vote as soon as possible via the
Internet at www.proxyvote.com or by phone at 1-800-690-6903
(have proxy card available). Eligible stockholders may also vote by
contacting the Company's proxy solicitor, Alliance Advisors, at
1-833-782-7145.
Important Information
This material may be deemed to be solicitation material in
respect of the Annual Meeting to be reconvened and held on
May 30, 2024. In connection with the
Annual Meeting, the Company filed a definitive proxy statement and
a proxy card with the SEC on April 29,
2024. BEFORE MAKING ANY VOTING DECISIONS, STOCKHOLDERS ARE
URGED TO READ THE DEFINITIVE PROXY STATEMENT, THE ACCOMPANYING
PROXY CARD, AND ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS,
AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, BECAUSE THEY
CONTAIN IMPORTANT INFORMATION ABOUT THE ANNUAL MEETING. The proxy
materials have been made available to stockholders who are entitled
to vote at the Annual Meeting. The Company's definitive proxy
statement and any other materials filed by the Company with the SEC
can be obtained free of charge at the SEC's website at sec.gov
or the Company's website https://ir.soligenix.com/sec-filings.
Participant Information
The Company, its directors, director nominees, certain of its
officers, and other employees are or will be "participants" (as
defined in Section 14(a) of the U.S. Securities Exchange Act of
1934, as amended) in the solicitation of proxies from the Company's
stockholders in connection with the matters to be considered at the
Annual Meeting. The identity, their direct or indirect interests
(by security holdings or otherwise), and other information relating
to the participants is available in the definitive proxy statement
filed with the SEC on April 29, 2024,
including in the section titled "Security Ownership of Principal
Stockholders and Management" (beginning on page 35). To the extent
the holdings by the "participants" in the solicitation reported in
the definitive proxy statement have changed, such changes have been
or will be reflected on "Statements of Change in Ownership" on
Forms 3, 4 or 5 filed with the SEC (where applicable). All these
documents are or will be available free of charge at the SEC's
website at www.sec.gov.
About Soligenix
Soligenix is a late-stage biopharmaceutical company focused on
developing and commercializing products to treat rare diseases
where there is an unmet medical need. Our Specialized
BioTherapeutics business segment is developing and moving toward
potential commercialization of HyBryte™ (SGX301 or synthetic
hypericin sodium) as a novel photodynamic therapy utilizing safe
visible light for the treatment of cutaneous T-cell lymphoma
(CTCL). With successful completion of the second Phase 3 study,
regulatory approvals will be sought to support potential
commercialization worldwide. Development programs in this business
segment also include expansion of synthetic hypericin (SGX302) into
psoriasis, our first-in-class innate defense regulator (IDR)
technology, dusquetide (SGX942) for the treatment of inflammatory
diseases, including oral mucositis in head and neck cancer, and
(SGX945) in Behçet's Disease.
Our Public Health Solutions business segment includes
development programs for RiVax®, our ricin toxin vaccine
candidate, as well as our vaccine programs targeting filoviruses
(such as Marburg and Ebola) and CiVax™, our vaccine candidate for
the prevention of COVID-19 (caused by SARS-CoV-2). The development
of our vaccine programs incorporates the use of our proprietary
heat stabilization platform technology, known as
ThermoVax®. To date, this business segment has been
supported with government grant and contract funding from the
National Institute of Allergy and Infectious Diseases (NIAID), the
Defense Threat Reduction Agency (DTRA) and the Biomedical Advanced
Research and Development Authority (BARDA).
For further information regarding Soligenix, Inc., please visit
the Company's website at https://www.soligenix.com and
follow us on LinkedIn and Twitter at @Soligenix_Inc.
This press release may contain forward-looking statements that
reflect Soligenix's current expectations about its future results,
performance, prospects and opportunities, including but not limited
to, potential market sizes, patient populations, clinical trial
enrollment, the expected timing for closing the offering described
herein and the intended use of proceeds therefrom. Statements that
are not historical facts, such as "anticipates," "estimates,"
"believes," "hopes," "intends," "plans," "expects," "goal," "may,"
"suggest," "will," "potential," or similar expressions, are
forward-looking statements. These statements are subject to a
number of risks, uncertainties and other factors that could cause
actual events or results in future periods to differ materially
from what is expressed in, or implied by, these statements, and
include the expected amount and use of proceeds from the offering
and the expected closing date of the offering. Soligenix cannot
assure you that it will be able to successfully develop, achieve
regulatory approval for or commercialize products based on its
technologies, particularly in light of the significant uncertainty
inherent in developing therapeutics and vaccines against bioterror
threats, conducting preclinical and clinical trials of therapeutics
and vaccines, obtaining regulatory approvals and manufacturing
therapeutics and vaccines, that product development and
commercialization efforts will not be reduced or discontinued due
to difficulties or delays in clinical trials or due to lack of
progress or positive results from research and development efforts,
that it will be able to successfully obtain any further funding to
support product development and commercialization efforts,
including grants and awards, maintain its existing grants which are
subject to performance requirements, enter into any biodefense
procurement contracts with the U.S. Government or other countries,
that it will be able to compete with larger and better financed
competitors in the biotechnology industry, that changes in health
care practice, third party reimbursement limitations and Federal
and/or state health care reform initiatives will not negatively
affect its business, or that the U.S. Congress may not pass any
legislation that would provide additional funding for the Project
BioShield program. In addition, there can be no assurance as to the
timing or success of any of its clinical/preclinical trials.
Despite the statistically significant result achieved in the first
HyBryte™ (SGX301) Phase 3 clinical trial for the treatment of
cutaneous T-cell lymphoma, there can be no assurance that the
second HyBryte™ (SGX301) Phase 3 clinical trial will be successful
or that a marketing authorization from the FDA or EMA will be
granted. Additionally, although the EMA has agreed to the key
design components of the second HyBryte™ (SGX301) Phase 3 clinical
trial, no assurance can be given that the Company will be able to
modify the development path to adequately address the FDA's
concerns or that the FDA will not require a longer duration
comparative study. Notwithstanding the result in the first
HyBryte™ (SGX301) Phase 3 clinical trial for the treatment of
cutaneous T-cell lymphoma and the Phase 2a clinical trial of SGX302
for the treatment of psoriasis, there can be no assurance as to the
timing or success of the clinical trials of SGX302 for the
treatment of psoriasis. Further, there can be no assurance that
RiVax® will qualify for a biodefense Priority Review
Voucher (PRV) or that the prior sales of PRVs will be indicative of
any potential sales price for a PRV for RiVax®. Also, no
assurance can be provided that the Company will receive or continue
to receive non-dilutive government funding from grants and
contracts that have been or may be awarded or for which the Company
will apply in the future. These and other risk factors are
described from time to time in filings with the Securities and
Exchange Commission (the "SEC"), including, but not limited to,
Soligenix's reports on Forms 10-Q and 10-K. Unless required by law,
Soligenix assumes no obligation to update or revise any
forward-looking statements as a result of new information or future
events.
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SOURCE SOLIGENIX, INC.