PRINCETON, N.J., Sept. 22,
2023 /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 2023 Annual Meeting of Stockholders (the "Annual Meeting")
scheduled for and convened on September 21,
2023 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
August 7, 2023 (the "Proxy
Statement"). As a result of the additional time afforded by the
adjournment of the Annual Meeting, the Company filed with the SEC a
supplement (the "Supplement") to the Proxy Statement and amended
proxy card to add a new proposal for the stockholders to ratify the
appointment of Cherry Bekaert LLP as the Company's independent
registered public accounting firm for its fiscal year ending
December 31, 2023. Stockholders are
encouraged to review the Supplement for details on how to vote on
the new proposal.
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
October 18, 2023 at 9:00 a.m. Eastern Daylight Time and will continue
to be held virtually via live audio-only webcast at
www.virtualshareholdermeeting.com/sngx2023.
The record date for determination of stockholders entitled to
vote at the reconvened Annual Meeting remains the close of business
on July 24, 2023. At the time the
Annual Meeting was adjourned, proxies had been submitted by
stockholders representing approximately 8.3% of the shares of the
Company's common stock issued and outstanding as of the record
date.
Stockholders as of close of business on July 24, 2023, the record date for the Annual
Meeting, are encouraged to vote as soon as possible via the
Internet at www.proxyvote.com (have proxy card
available).
Important Information
This material may be deemed to be solicitation material in
respect of the Annual Meeting to be reconvened and held on
October 18, 2023. In connection with
the Annual Meeting, the Company filed a definitive proxy statement
with the SEC on August 7, 2023, and
supplements thereto on September 15,
2023 and September 22, 2023.
BEFORE MAKING ANY VOTING DECISIONS, STOCKHOLDERS ARE URGED TO READ
THE DEFINITIVE PROXY STATEMENT, THE SUPPLEMENTS, 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 shareholders who are entitled to vote
at the Annual Meeting. The Company's 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.
About Soligenix, Inc.
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 a successful Phase 3 study completed,
regulatory approval is being sought and commercialization
activities for this product candidate are being advanced initially
in the U.S. 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 proprietary
formulations of oral beclomethasone 17,21-dipropionate (BDP) for
the prevention/treatment of gastrointestinal (GI) disorders
characterized by severe inflammation including pediatric Crohn's
disease (SGX203).
Our Public Health Solutions business segment includes active
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, Inc.'s current expectations about its future
results, performance, prospects and opportunities, including but
not limited to, potential market sizes, patient populations and
clinical trial enrollment. 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
HyBryte™ (SGX301) Phase 3 clinical trial for the
treatment of cutaneous T-cell lymphoma, there can be no assurance
that a marketing authorization from the FDA or EMA will be
successful. Notwithstanding the result in the 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, the
Company's preliminary prospectus (Registration No. 333-271049)
filed with the SEC on May 4, 2023,
and 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.