Soligenix up as FDA grants "fast track" tag to inflammatory disease drug

Soligenix

08/01/2024 13:26

** Soligenix Inc's shares  SNGX.O  rise 20.8% to 97 cents
before the bell
    ** Drug developer said U.S. FDA has granted "Fast Track"
designation to treatment of oral lesions of Behçet's Disease
    ** Behçet's Disease is a rare inflammatory condition that
causes damage to your blood vessels and sores in the mouth,
rashes, eyes, and joints
    ** Fast track is a designation that the FDA reserves for a
drug intended to treat a serious or life-threatening condition
and  expedite the review of the drug
    ** Co plans to initiate the mid-stage study in 2024
    ** Up to Friday's close, stock had fallen ~88% in last 12
months

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))