Soligenix, Inc. Files 10-Q for Q2 2024

TL;DR

Soligenix 10-Q filed. Financials and biz updates for Q2 2024 out.

AI Summary

Soligenix, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial results and provided updates on its business activities. Key financial data points and corporate actions are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Soligenix, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Soligenix faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 1258985 — Total Assets (As of June 30, 2024)
• 453035 — Total Liabilities (As of June 30, 2024)
• 958341 — Total Equity (As of June 30, 2024)

Key Players & Entities

• SOLIGENIX, INC. (company) — Filer
• 20240630 (date) — Period of Report
• 20240809 (date) — Filing Date
• 2024-04-22 (date) — Public Offering Date
• 2020-03-01 (date) — Asset Purchase Agreement Date

FAQ

Filing Documents

• sngx-20240630x10q.htm (10-Q) — 1630KB
• sngx-20240630xex31d1.htm (EX-31.1) — 18KB
• sngx-20240630xex31d2.htm (EX-31.2) — 18KB
• sngx-20240630xex32d1.htm (EX-32.1) — 8KB
• sngx-20240630xex32d2.htm (EX-32.2) — 11KB
• 0001558370-24-011740.txt ( ) — 6234KB
• sngx-20240630.xsd (EX-101.SCH) — 35KB
• sngx-20240630_cal.xml (EX-101.CAL) — 43KB
• sngx-20240630_def.xml (EX-101.DEF) — 191KB
• sngx-20240630_lab.xml (EX-101.LAB) — 349KB
• sngx-20240630_pre.xml (EX-101.PRE) — 275KB
• sngx-20240630x10q_htm.xml (XML) — 961KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 4

Controls and Procedures

Controls and Procedures 52 Part II OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 53 Item 1A

Risk Factors

Risk Factors 53 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 54 Item 5 Other Information 54 Item 6 Exhibits 55

SIGNATURES

SIGNATURES 56 i Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

- FINANCIAL STATEMENTS

ITEM 1 - FINANCIAL STATEMENTS Soligenix, Inc. and Subsidiaries Condensed Consolidated Balance Sheets June 30, December 31, 2024 2023 Assets (unaudited) Current assets: Cash and cash equivalents $ 9,412,539 $ 8,446,158 Unbilled revenue — 171,254 Research and development incentives receivable, current — 23,894 Deferred issuance cost 5,861 — Prepaid expenses and other current assets 244,472 866,014 Total current assets 9,662,872 9,507,320 Security deposit 22,777 22,777 Office furniture and equipment, net 8,751 11,927 Right-of-use lease assets 170,679 229,834 Research and development incentives receivable, net of current portion — 25,468 Total assets $ 9,865,079 $ 9,797,326 Liabilities and shareholders' equity Current liabilities: Accounts payable $ 1,698,225 $ 1,111,226 Accrued expenses 1,701,806 2,418,002 Accrued compensation 80,244 251,115 Lease liabilities, current 128,592 121,765 Convertible debt 2,745,745 2,250,000 Total current liabilities 6,354,612 6,152,108 Non-current liabilities: Convertible debt — 1,010,934 Lease liabilities, net of current portion 45,691 111,862 Total liabilities 6,400,303 7,274,904 Commitments and contingencies (Note 6) Shareholders' equity: Preferred stock, 350,000 shares authorized; none issued or outstanding at June 30, 2024 and December 31, 2023, respectively — — Common stock, $ .001 par value; 75,000,000 shares authorized; 1,542,480 and 648,761 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 1,542 649 Additional paid-in capital (1) 232,699,640 228,203,706 Accumulated other comprehensive income 27,599 22,243 Accumulated deficit ( 229,264,005 ) ( 225,704,176 ) Total shareholders' equity 3,464,776 2,522,422 Total liabilities and shareholders' equity $ 9,865,079 $ 9,797,326 (1) Adjusted to reflect the reverse stock split of one-for-six

View Full Filing

View this 10-Q filing on SEC EDGAR