Soligenix pivots pipeline after discontinuing HyBryte program

The Princeton-based company reported a net loss of $2.0 million for the second quarter of 2026, an improvement over the $2.7 million loss recorded during the same period last year. This reduction in losses stems primarily from the cessation of research and development expenses tied to the failed HyBryte trial, which was halted in April due to futility. As of June 30, 2026, the company maintains approximately $9.8 million in cash, a runway expected to extend into the second quarter of 2028.

CEO Christopher J. Schaber stated that the company is now evaluating strategic options to maximize stockholder value, including potential partnerships, licensing agreements, and mergers. Development efforts are currently centered on SGX945 for Behçet's disease and the ThermoVax heat-stable vaccine platform. Soligenix is actively pursuing non-dilutive funding, notably seeking support from the Coalition for Epidemic Preparedness Innovations to develop a vaccine targeting the Bundibugyo virus in collaboration with the University of Hawaiʻi at Mānoa.