Why Soligenix Is Rising In Pre-market?

(RTTNews) - Soligenix (SNGX) announced that the Office of Orphan Products Development of FDA has granted orphan drug designation to dusquetide, the active ingredient in SGX945, for treatment of Behçet's Disease following review of recent Phase 2a clinical results.

"Given the clinically meaningful improvements seen in a Phase 2 proof-of-concept study in patients with oral aphthous ulcers due to Behçet's Disease, we are hopeful dusquetide will have a role to play in helping underserved patients suffering from this difficult to treat and chronic auto-immune disease," said Christopher Schaber, President and Chief Executive Officer of Soligenix.

Shares of Soligenix are up 57% in pre-market trade on Monday.

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