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Soligenix Reports Third Quarter 2009 Financial Results
Date:11/13/2009

her J. Schaber, PhD, President and CEO of Soligenix. "With the initiation of our confirmatory Phase 3 clinical trial of orBec® in acute GI GVHD, orBec® is poised to potentially be the first FDA approved therapy for this unmet medical need. Additionally, Soligenix received significant new grant funding for its biodefense and radiation enteritis programs, as well as new equity financing and a $1 million milestone payment from our North American partner Sigma-Tau. We are looking forward to completing a productive 2009 and continuing that positive momentum in 2010."

Soligenix's revenues, which primarily relate to receipts from NIH grants, for the third quarter of 2009 were approximately $767,000 compared to $606,000 for the third quarter of 2008. Revenues for the first nine months of 2009 were approximately $1.6 million compared to $1.8 million for the first nine months of 2008.

Soligenix's net loss for the third quarter of 2009 was approximately $1.7 million, or $0.01 per share, compared to $0.5 million, or $0.005 per share, for the third quarter of 2008. The net loss for the first nine months of 2009 was approximately $5.6 million, or $0.03 per share, compared to $3.1 million, or $0.03 per share, for the first nine months of 2008. These larger net losses were primarily attributed to increased research and development (R&D) spending in connection with the preparation and initiation of the confirmatory Phase 3 clinical trial of orBec® for the treatment of GI GVHD.

R&D expenses for the third quarter of 2009 were approximately $1.1 million, compared to $60,000 for the third quarter of 2008. R&D expenses for the first nine months of 2009 were approximately $3.8 million, compared to $1.4 million for the first nine months of 2008.

General and administrative (G&A) expenses for the third quarter of 2009 were approximately $618,000, compared to $410,000 for the third quarter of 2008. G&A ex
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SOURCE Soligenix, Inc.
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