Why Is Soligenix (SNGX) Stock Up 296% Today?

  • Soligenix (SNGX) stock is taking off alongside new study data.
  • That includes positive results for its CTCL treatment.
  • This brings with it heavy trading of SNGX shares.
SNGX Stock - Why Is Soligenix (SNGX) Stock Up 296% Today?

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Soligenix (NASDAQ:SNGX) stock is rocketing higher on Tuesday following positive data from the late-stage biopharmaceutical company’s extended HyBryte treatment.

This data interim data comes from a 12-month study testing HyBryte as a treatment for early-stage cutaneous T-cell lymphoma (CTCL). Six patients have been enrolled in the study with four of them having completed at least 12 weeks of treatment.

Of those four patients, three of them have already achieved treatment success. This is measured as a 50% improvement in their cumulative mCAILS score compared to baseline. The fourth patient has seen significant improvement over 18 weeks:

“We are pleased to see that continuing treatment for longer time periods is resulting in the anticipated improved outcomes for patients. As the body of compelling data continues to grow in support of this novel therapy, we look forward to working with Dr. Kim on this important study as well as embarking on our confirmatory Phase 3 replication study later this year. We will continue to provide additional updates on the IIS as data becomes available.”

How This Affects SNGX Stock

With this news comes heavy trading of SNGX shares as investors buy the stock. That has more than 46 million shares changing hands as of this writing. This is well above its daily average trading volume of about 222,000 shares.

SNGX stock is up 296% as of Tuesday morning.

Investors will want to keep reading for more of the most recent stock market stories!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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