Why Is Soligenix Inventory Buying and selling Larger At the moment? – Soligenix (NASDAQ:SNGX)

On Monday, Soligenix Inc SNGX acquired an FDA orphan drug designation for the lively ingredient in MarVax, the subunit protein vaccine of recombinantly expressed Marburg marburgvirus (MARV) glycoprotein, for the prevention and post-exposure prophylaxis in opposition to MARV an infection.

Along with offering a seven-year time period of market exclusivity upon remaining FDA approval, orphan drug designation additionally positions Soligenix to have the ability to leverage a variety of economic and regulatory advantages, together with authorities grants for conducting medical trials, waiver of high-priced FDA consumer charges for the potential submission of a Biologics License Utility (BLA), and sure tax credit.

Marburg marburgvirus causes Marburg Virus Illness, a extremely associated illness to the extra generally identified Ebola Virus Illness. 

Though MARV has brought on fewer outbreaks, they continue to be extremely deadly and a big danger in continental Africa, with the newest outbreak occurring in 2023. There isn’t a permitted vaccine for MARV, and the one permitted vaccines for filovirus-type illness is restricted to Zaire ebolavirus.

Simply final week, the FDA granted Orphan Drug standing to the lively ingredient in Soligenix’s SuVax, the subunit protein vaccine of recombinantly expressed Sudan ebolavirus (SUDV) glycoprotein, for the prevention and post-exposure prophylaxis in opposition to SUDV an infection.

Value Motion: SNGX shares are up 37.2% at $0.53 on the final examine Monday.