Benzinga | Mar 4, 2021 07:22AM EST

Soligenix Shares Rally On Positive Preclinical Data For COVID-19 Vaccine Candidate

Soligenix Inc (NASDAQ: SNGX) rises sharply in premarket trading after the publication of positive results from pre-clinical immunogenicity studies for the COVID-19 vaccine candidate, dubbed as CiVax.

* The data demonstrated rapid-onset, neutralizing antibody and cell-mediated immunity using full-length Spike protein antigens.

* This work will continue under a $1.5M Small Business Innovation Research (SBIR) grant awarded to Soligenix in December last year.

* CiVax is Soligenix's heat-stable subunit vaccine candidate for the prevention of COVID-19 infection.

* The following steps will include evaluating immunogenicity in a non-human primate model and assessing antibody coverage with key variants of the virus.

* Price Action: SNGX shares gained 34.8% at $2.18 in premarket trading on the last check Thursday.