Overview

• US biopharma firm's Q1 net loss narrowed due to lower operating expenses

• Company reported no revenue for Q1 2026

• Phase 3 FLASH2 trial for HyBryte in CTCL halted for futility after interim analysis

Outlook

• Company is analyzing FLASH2 trial data and may explore further regulatory discussions if warranted

• Soligenix evaluating all strategic options, including M&A and advancing pipeline assets

• Company has cash runway into Q2 2027 and is assessing future development priorities

Result Drivers

• TRIAL HALT - Interim analysis led to halt of Phase 3 FLASH2 trial for HyBryte in CTCL due to futility

• LOWER OPERATING EXPENSES - Net loss narrowed mainly due to decreased third-party manufacturing costs, completion of Phase 2 BD study, and lower site initiation fees, partly offset by higher patient fees for Phase 3 CTCL trial

Company press release: ID:nPnxlhT2a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Net Income		-$2.8 mln

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Soligenix Inc is $6.00, about 1,846.8% above its May 7 closing price of $0.31

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