Soligenix (OTCQB:SNGX) shares have more than quadrupled in the last three months as it continues to develop its promising pipeline. The drug development company said Friday that its president and CEO, Christopher J. Schaber, will be presenting a corporate update at the 2013 BIO CEO & Investor Conference on Tuesday February 12 at the Waldorf Astoria in New York City.
The presentation will take place at 3:00pm ET in the Duke of Windsor Room.
Its stock is changing hands at $1.77, up by $1.33 since early November.
The New Jersey-based company focuses on drugs for cancer-supportive care, gastrointestinal disease, and biodefense.
Its lead compound, SGX942, is projected to enter phase 2 for oral mucositis in head and neck cancer in the second half of this year, with results anticipated in the second half of 2014.
Earlier this week, the company announced a new medical advisory board that will play an important role in the design of the upcoming phase 2 clinical study of SGX942 as well as in the design of further clinical trials and associated communications with regulatory authorities.
Mucositis is the clinical term for damage done to the mucosa by anti-cancer therapies like radiation and chemotherapy. It can occur in any mucosal region, but is most commonly associated with the mouth, followed by the small intestine.
The condition affects 500,000 people in the U.S. per year and occurs in 40% of patients receiving chemotherapy, according to recent stats.
Soligenix's SGX942 is a key investment catalyst for the company, with a product launch anticipated in early 2017. In phase 1 trials, SGX942 was shown to reduce the severity and duration of oral mucositis and induce anti-inflammatory activity.
The drug maker is also developing SGX203, an oral BDP for pediatric Crohn’s disease. The phase 1/2 trial of SGX203 should begin in the first half of this year.
Beyond these two drugs, the company expects to receive additional government grants to pursue other indications of oral BDP and several biodefense therapeutics and vaccines.
Oral BDP is a topically active corticosteroid that has a local effect on inflamed tissue and is the active ingredient in four of its different product candidates. Specifically, it is also being used for the development of OrbeShield for the treatment of gastrointestinal acute radiation syndrome (GI ARS), which occurs after toxic radiation exposure and involves several organ systems, notably the bone marrow, the gastrointestinal tract and later, the lungs.
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