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Soligenix Reports Year-End 2012 Financial Results and Highlights Recent Accomplishments
Date:2/26/2013

tive expenses for the full year 2012 were $2.6 million, compared to $2.2 million for the full year 2011. This increase is related to professional fees and non-cash expenses for replacing previously issued warrants to Sigma-Tau upon reacquiring the rights to orBec® and accelerating the vesting of certain stock options issued to a former employee.

As of December 31, 2012, the Company's cash position was $3.4 million with working capital of $2.7 million.  

Christopher J. Schaber , PhD, President and Chief Executive Officer of Soligenix stated, "Throughout the year, we continued to make progress in advancing a number of our programs utilizing oral BDP, in both our BioTherapeutics and Vaccine/BioDefense business segments, as well as expanding our pipeline with acquired technology. In December 2012, we were successful in regaining North American and European commercial rights to oral BDP from Sigma-Tau and we expanded our pipeline with the acquisition of a novel innate defense regulator technology known as SGX94. We believe SGX94 is highly synergistic with our existing development pipeline in cancer supportive care and biodefense, and we anticipate the potential for a number of grant funding opportunities for SGX94 across both business segments."

Schaber continued, "In January, we were pleased to receive an invitation from the Biomedical Advanced Research and Development Authority (BARDA) to submit a contract proposal for the development of OrbeShield™ for the treatment of gastrointestinal acute radiation syndrome (GI ARS), which was submitted in February.  We are also pleased with the momentum we have built entering 2013, and are excited about the opportunities we see in both of our business segments. I look forward to reporting on our progress on all programs throughout the coming year."

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    SOURCE Soligenix, Inc.
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