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Soligenix Reports First Quarter 2010 Financial Results and Reviews Accomplishments
Date:5/17/2010

PRINCETON, N.J., May 17 /PRNewswire-FirstCall/ -- Soligenix, Inc. (OTC Bulletin Board: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company, announced today its financial results for the first quarter of 2010.

Soligenix's revenues for the first quarter of 2010 were approximately $336,000 as compared to $530,000 for the first quarter of 2009. The decreased revenues were primarily a result of decreases in National Institutes of Health (NIH) grant revenues as the Company reached the end of its earlier NIH grants before the work under its newer grants had commenced.

Soligenix's net loss for the first quarter of 2010 was approximately $2,136,000, or $(0.01) per share, as compared to $2,145,000, or $(0.01) per share, for the first quarter of 2009.

Research and development expenses for the first quarter of 2010 were approximately $1,598,000, compared to $1,591,000 for the first quarter of 2009. General and administrative expenses for the first quarter of 2010 were approximately $538,000, compared to $532,000 for the first quarter of 2009.

"Soligenix continues to make strong progress towards its goal of regulatory approval of orBec® in various forms of Graft-versus-Host disease (GVHD)," stated Christopher J. Schaber, PhD, President and Chief Executive Officer of Soligenix.  "We are looking forward to announcing data from our Phase 2 clinical trial of orBec® in the prevention of acute GVHD in the second half o
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SOURCE Soligenix, Inc.
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