Vista Partners Updates Coverage on Soligenix, Inc. (Ticker: SNGX); Price Target $7.00
SAN FRANCISCO, CA--(Marketwired - Dec 18, 2015) - Vista Partners announced today that it has updated coverage on Soligenix, Inc. ("The Company" or "SNGX") ( OTCBB : SNGX ), a clinical stage biopharmaceutical company based in Princeton, New Jersey, and maintains its twelve-month price target of $7.00. Ross Silver, Principal Analyst at Vista Partners, stated, "On December 16, 2015, Soligenix reported positive preliminary data from the Phase 2 trial of their clinical candidate SGX942 for the treatment of oral mucositis associated with head & neck cancers. SGX942 is a novel synthetic peptide that modulates anti-inflammatory and anti-infective activity of the innate immune response (an 'Innate Defense Regulator, IDR') . It is estimated that 500,000 patients suffer from oral mucositis, including 40% of patients receiving chemotherapy . On the Company hosted investor conference call held December 16 th , which was organized to discuss the data from the SGX942 Phase 2 trial, I asked the CEO of Soligenix, Chris Schaber, what he believed the estimated net present value ("NPV") of SGX942 was given the data. Mr. Schaber responded that he believed the NPV of SGX942 alone was $100M or greater. As a reminder, the market cap of Soligenix at the time of our publication is approximately $25M, 4x less than $100M which equates to a share price of approximately $4, again, just for SGX942." Mr. Silver concludes, "Randal J. Kirk, the CEO of Intrexon which has approximately a $3.8B market cap, has a beneficial ownership position of approximately 23% of Soligenix. In addition, Paolo Cavazza's beneficial ownership position on his own behalf and on behalf of Sigma-Tau is approximately 12% of Soligenix."
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