Full Press Release Details
Soligenix Announces Closing of Public Offering
Princeton, NJ, December 16, 2016 -
Soligenix, Inc. (Nasdaq: SNGX), a late-stage biopharmaceutical company focused on developing and commercializing products
to treat rare diseases where there is an unmet medical need, announced today the closing of its previously announced underwritten
public offering of 1,670,000 shares of its common stock and warrants to purchase up to an aggregate of 2,087,500 shares of its
common stock at a combined offering price of $3.16. In addition, the underwriters partially exercised the over-allotment to purchase
an additional 282,505 warrants. The warrants have a per share exercise price of $3.95, are exercisable immediately and will expire
five years from the date of issuance. Gross proceeds to Soligenix, Inc. from this offering are approximately $5,277,270 before
deducting underwriting discounts and commissions and other estimated offering expenses payable by Soligenix, Inc.
Aegis Capital Corp. acted as the sole book-running manager for the
Maxim Group LLC acted as the co-manager for the offering.
A registration statement relating to these
securities has been filed with the Securities and Exchange Commission and became effective on November 22, 2016.
The offering will be made only by means of
a prospectus. A copy of the final prospectus, dated December 12, 2016, relating to the offering may be obtained by contacting Aegis
Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: prospectus@aegiscap.com.
Investors may also obtain these documents at no cost by visiting the SEC's website at http://www.sec.gov.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such
state or jurisdiction.
About Soligenix, Inc.
Soligenix is a late-stage biopharmaceutical
company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need. Our BioTherapeutics
business segment is developing SGX301 as a novel photodynamic therapy utilizing safe visible light for the treatment of cutaneous
T-cell lymphoma, our first-in-class innate defense regulator (IDR) technology, dusquetide (SGX942) for the treatment of oral mucositis
in head and neck cancer, and proprietary formulations of oral beclomethasone 17,21-dipropionate (BDP) for the prevention/treatment
of gastrointestinal (GI) disorders characterized by severe inflammation including pediatric Crohn's disease (SGX203) and
acute radiation enteritis (SGX201).
Our Vaccines/BioDefense
business segment includes active development programs for RiVax , our ricin toxin vaccine candidate, OrbeShield ,
our GI acute radiation syndrome therapeutic candidate and SGX943, our melioidosis therapeutic candidate. The development of our
vaccine programs incorporates the use of our proprietary heat stabilization platform technology, known as ThermoVax .
Currently, this business segment is supported with up to $58 million in government grant and contract funding from the National
Institute of Allergy and Infectious Diseases (NIAID) and the Biomedical Advanced Research and Development Authority (BARDA).
For further information regarding Soligenix,
Inc., please visit the Company's website at www.soligenix.com.
press release may contain forward-looking statements that reflect Soligenix, Inc.'s current expectations about its future
results, performance, prospects and opportunities, including but not limited to, potential market sizes, patient populations and
clinical trial enrollment. Statements that are not historical facts, such as "anticipates," "estimates,"
"believes," "hopes," "intends," "plans," "expects," "goal,"
"may," "suggest," "will," "potential," or similar expressions, are forward-looking
statements. These statements are subject to a number of risks, uncertainties and other factors that could cause actual events
or results in future periods to differ materially from what is expressed in, or implied by, these statements. Soligenix cannot
assure you that it will be able to successfully develop, achieve regulatory approval for or commercialize products based on its
technologies, particularly in light of the significant uncertainty inherent in developing therapeutics and vaccines against bioterror
threats, conducting preclinical and clinical trials of therapeutics and vaccines, obtaining regulatory approvals and manufacturing
therapeutics and vaccines, that product development and commercialization efforts will not be reduced or discontinued due to difficulties
or delays in clinical trials or due to lack of progress or positive results from research and development efforts, that it will
be able to successfully obtain any further funding to support product development and commercialization efforts, including grants
and awards, maintain its existing grants which are subject to performance requirements, enter into any biodefense procurement contracts
with the U.S. Government or other countries, that it will be able to compete with larger and better financed competitors in the
biotechnology industry, that changes in health care practice, third party reimbursement limitations and Federal and/or state health
care reform initiatives will not negatively affect its business, or that the U.S. Congress may not pass any legislation that would
provide additional funding for the Project BioShield program. In addition, the offering is subject to market and other conditions,
and there can be no assurance as to the underwriter's exercise of the remaining portion of
their over-allotment option to purchase additional securities, as well as risks and uncertainties associated with,
the anticipated use of proceeds from the offering. These and
other risk factors are described from time to time in filings with the Securities and Exchange Commission, including, but not limited
to, Soligenix's reports on Forms 10-Q and 10-K. Unless required by law, Soligenix assumes no obligation to update or
revise any forward-looking statements as a result of new information or future events.
Chief Financial Officer
(609) 538-8200 | www.soligenix.com