Soligenix Urges Stockholders to Support Reverse Stock Split

Soligenix, Inc., a biopharmaceutical company in its advanced stages of development, urges its eligible shareholders to vote in favor of a Reverse Stock Split. The company's leadership emphasizes the critical nature of maintaining its Nasdaq Capital Market listing and meeting its stringent requirements. The failure to do so could hinder the company's ability to attract necessary institutional support for advancing its clinical trials, particularly the Phase 3 confirmatory trial for HyBryte™ and other pipeline programs. This is crucial for securing potential partnerships and additional non-dilutive government funding, aimed at enhancing shareholder value.

Christopher J. Schaber, PhD, President and CEO of Soligenix, highlighted the significance of maintaining the Nasdaq listing. Eligible stockholders, those who held shares as of April 10, 2024, are encouraged to participate in the voting process. They can do so by contacting the company's proxy solicitor, Alliance Advisors, at 1-833-782-7145. This remains valid even for those who have sold their shares post the record date.

The company has filed a definitive proxy statement and proxy card with the Securities and Exchange Commission (SEC) on April 29, 2024, related to its Annual Meeting. This material, which is considered solicitation material, contains critical information about the proposals to be discussed at the meeting. Stockholders are advised to review these documents thoroughly before making any voting decisions. These documents can be accessed freely on the SEC's website or the company's website.

Soligenix has also disclosed that certain directors, officer nominees, and other employees are classified as "participants" in the proxy solicitation under Section 14(a) of the U.S. Securities Exchange Act of 1934. Information about these participants, including their security holdings and interests, is detailed in the definitive proxy statement. Any changes in their holdings have been or will be reported in Forms 3, 4, or 5, filed with the SEC.

The company's business is divided into two main segments. The Specialized BioTherapeutics segment focuses on developing treatments for rare diseases. Among their key projects is HyBryte™ (SGX301), a novel photodynamic therapy using safe visible light for cutaneous T-cell lymphoma (CTCL). With the successful completion of the second Phase 3 trial, the company aims to seek regulatory approvals for global commercialization. Other projects in this segment include the expansion of synthetic hypericin (SGX302) for psoriasis and the development of dusquetide (SGX942) for inflammatory diseases, including oral mucositis in head and neck cancer, and SGX945 for Behçet's Disease.

The Public Health Solutions segment is engaged in developing vaccines for various infectious diseases. This includes RiVax®, a ricin toxin vaccine candidate, and vaccines targeting filoviruses such as Marburg and Ebola, along with CiVax™, aimed at preventing COVID-19. These vaccine programs utilize the company's proprietary heat stabilization technology, ThermoVax®, and are supported by grants and contracts from agencies like the National Institute of Allergy and Infectious Diseases (NIAID), the Defense Threat Reduction Agency (DTRA), and the Biomedical Advanced Research and Development Authority (BARDA).

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