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- Going Concern (worsened) — Auditor opinion for FY2025 continues to include going-concern explanatory paragraph; company lacks 12-month liquidity from March 2026 financial statement issuance despite extending runway to Q4 2026.
Soligenix reports 34% loss increase to $11.1M; completes BD trial, extends cash to Q4 2026
Filed March 31, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 21, 2025 · ~2 min read
Key Changes
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high
Net loss rose 34% to $11.1M driven by R&D costs for Phase 2a Behçet's Disease study (now complete with positive safety/efficacy) and ongoing Phase 3 CTCL trial; convertible debt fully repaid Feb 2025 with no penalties.
MD&A: Financial Results verify on EDGAR → -
high
Cash runway extended to Q4 2026 (vs. end-2025 prior), but auditor going-concern opinion persists; cash dropped to $5.9M by March 2026 from $7.9M year-end, with no grant revenue expected in 2026.
Risk Factors: Going Concern verify on EDGAR → -
high
Middle East conflict materially impaired CTCL trial operations in Israel/neighboring regions due to patient displacement, site closures, investigator unavailability; company warns of protocol amendments, data-integrity concerns, potential regulatory delays.
Risk Factors: Geopolitical Conflict verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 3, 2026 · How we verify