Soligenix, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Soligenix, Inc. filed its 2023 10-K report detailing financial activities and corporate history.</b>

AI Summary

SOLIGENIX, INC. (SNGX) filed a Annual Report (10-K) with the SEC on March 15, 2024. Soligenix, Inc. reported its 2023 fiscal year results on March 15, 2024. The company's principal executive offices are located in Princeton, NJ. Soligenix, Inc. was formerly known as DOR BIOPHARMA INC, ENDOREX CORP, and IMMUNOTHERAPEUTICS INC. The filing includes details on Series D Preferred Stock, Common Stock, and Warrants. Key dates related to various agreements and stock issuances are documented.

Why It Matters

For investors and stakeholders tracking SOLIGENIX, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Soligenix's financial health, operational activities, and strategic agreements for the fiscal year ending December 31, 2023. Understanding the historical name changes and the various stock and warrant instruments mentioned is crucial for assessing the company's capital structure and potential dilution.

Risk Assessment

Risk Level: medium — SOLIGENIX, INC. shows moderate risk based on this filing. The company's financial performance and operational status are not detailed in the provided header information, making it difficult to assess its current health and future prospects without further review of the full 10-K document.

Analyst Insight

Review the full 10-K filing to understand Soligenix's financial performance, revenue streams, net income, and any significant operational developments or risks disclosed for fiscal year 2023.

Financial Highlights

debt To Equity

4.81

revenue

10378238

net Income

2871345

eps

0.79

cash Position

7758036

revenue Growth

2.908578

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240315 — Filing Date (Filed as of date)
• 001-14778 — SEC File Number (SEC file number)
• 2834 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• SOLIGENIX, INC. (company) — Filer name
• SNGX (company) — Ticker symbol
• 20231231 (date) — Conformed period of report
• 20240315 (date) — Filed as of date
• DOR BIOPHARMA INC (company) — Former company name
• ENDOREX CORP (company) — Former company name
• IMMUNOTHERAPEUTICS INC (company) — Former company name
• Princeton, NJ (location) — Business address

FAQ

Industry Context

Soligenix, Inc. operates in the Pharmaceutical Preparations industry (SIC 2834).

Regulatory Implications

The filing is a Form 10-K, an annual report required by the U.S. Securities and Exchange Commission (SEC) for public companies.

What Investors Should Do

1. Analyze the full 10-K for detailed financial statements, including revenue, net income, and cash flow.
2. Investigate the specific agreements and stock issuances mentioned in the filing to understand their impact on equity.
3. Assess the company's business strategy and any disclosed risks or forward-looking statements.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for the 10-K
• 2024-03-15: Filing Date — Date the 10-K was filed with the SEC

Year-Over-Year Comparison

This is the initial header information for the 2023 10-K filing; a comparison to the previous filing would require access to that document.

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share SNGX The Nasdaq Capital M

Filing Documents

• sngx-20231231x10k.htm (10-K) — 2535KB
• sngx-20231231xex4d1.htm (EX-4.1) — 33KB
• sngx-20231231xex19d1.htm (EX-19.1) — 45KB
• sngx-20231231xex21d1.htm (EX-21.1) — 14KB
• sngx-20231231xex23d1.htm (EX-23.1) — 5KB
• sngx-20231231xex23d2.htm (EX-23.2) — 5KB
• sngx-20231231xex31d1.htm (EX-31.1) — 11KB
• sngx-20231231xex31d2.htm (EX-31.2) — 14KB
• sngx-20231231xex32d1.htm (EX-32.1) — 6KB
• sngx-20231231xex32d2.htm (EX-32.2) — 6KB
• sngx-20231231xex97.htm (EX-97) — 38KB
• sngx-20231231x10k004.jpg (GRAPHIC) — 1KB
• sngx-20231231x10k005.jpg (GRAPHIC) — 1KB
• 0001558370-24-003402.txt (&nbsp;) — 9666KB
• sngx-20231231.xsd (EX-101.SCH) — 62KB
• sngx-20231231_cal.xml (EX-101.CAL) — 61KB
• sngx-20231231_def.xml (EX-101.DEF) — 287KB
• sngx-20231231_lab.xml (EX-101.LAB) — 570KB
• sngx-20231231_pre.xml (EX-101.PRE) — 447KB
• sngx-20231231x10k_htm.xml (XML) — 1409KB

Risk Factors

Risk Factors 27 1B. Unresolved Staff Comments 51 1C Cybersecurity 51 2.

Legal Proceedings

Legal Proceedings 52 Part II 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 53 6.

Selected Financial Data

Selected Financial Data 54 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 54 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 63 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 63 9A.

Controls and Procedures

Controls and Procedures 64 9B. Other Information 65 9C. Disclosure Regarding Foreign Jurisdictions 65 Part III 10. Directors, Executive Officers and Corporate Governance 66 11.

Executive Compensation

Executive Compensation 71 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 75 13. Certain Relationships and Related Transactions and Director Independence 77 14. Principal Accountant Fees and Services 78 Part IV 15. Exhibits and Financial Statement Schedules 78

Signatures

Signatures 83 Consolidated Financial Statements F-1 i Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that reflect our current expectations about our future results, performance, prospects and opportunities. These forward-looking statements are not guarantees of future performance and are subject to significant risks, uncertainties, assumptions and other factors, which are difficult to predict and may cause actual results to differ materially from those expressed in, or implied by, any forward-looking statements. The forward-looking statements within this report may be identified by words such as "believes," "anticipates," "expects," "intends," "may," "would," "will" and other similar expressions. However, these words are not the exclusive means of identifying these statements. Statements that are not historical facts are based on our current expectations, beliefs, assumptions, estimates, forecasts and projections for our business and the industry and markets related to our business and are forward-looking statements. Actual outcomes and results may differ materially from what is expressed in such forward-looking statements. Important factors which may affect these actual outcomes and results include, without limitation: uncertainty as to whether our product candidates will be sufficiently safe and effective to support regulatory approvals; uncertainty inherent in developing therapeutics and vaccines, and manufacturing and conducting preclinical and clinical trials; our ability to obtain future financing or funds when needed, either through the raising of capital, the incurrence of convertible or other indebtedness or through strategic financing or commercialization partnerships; our ability to secure government grants or contracts to support our vaccine development; our ability to mai

Business

Item 1. Business This Annual Report on Form 10-K contains statements of a forward-looking nature relating to future events or our future financial performance. These statements are only predictions and actual events or results may differ materially. In evaluating such statements, you should carefully consider the various factors identified in this report that could cause actual results to differ materially from those indicated in any forward-looking statements, including those set forth in "Risk Factors" in this Annual Report on Form 10-K. See "Cautionary Note Regarding Forward Looking Statements." Our Business Overview We are a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need. We maintain two active business segments: Specialized BioTherapeutics and Public Health Solutions. Our Specialized BioTherapeutics business segment is developing and moving toward potential commercialization of HyBryte (a proposed proprietary name of SGX301 or synthetic hypericin sodium), a novel photodynamic therapy ("PDT"), utilizing topical synthetic hypericin activated with safe visible light for the treatment of cutaneous T-cell lymphoma ("CTCL"). With successful completion of the Phase 3 FLASH (Fluorescent Light Activated Synthetic Hypericin) study, regulatory approval is being pursued in the U.S. and Europe. Following submission of a new drug application ("NDA") for HyBryte in the treatment of CTCL, we received a refusal to file ("RTF") letter from the U.S. Food and Drug Administration ("FDA"). We had a Type A meeting with the FDA to clarify and respond to the issues identified in the RTF letter and to seek additional guidance concerning information that the FDA would require for a resubmitted NDA to be deemed acceptable to file, in order to advance HyBryte towards U.S. marketing approval and commercialization. In order to accept an NDA filing for HyBryte, the FDA is requiring posit

View Full Filing

View this 10-K filing on SEC EDGAR