BRIEF—Soligenix raises $7.5 million to advance HyBryte

US biopharma Soligenix has priced a $7.5 million public offering. Proceeds will fund research, commercialization, and corporate purposes, with A.G.P./Alliance Global Partners acting as sole placement agent.

The raise follows 2024 revenue of $119,000 and a net loss of $8.3 million, leaving cash of $7.8 million and highlighting financing pressures. The company’s lead asset, HyBryte (synthetic hypericin), is in a pivotal Phase III trial for cutaneous T-cell lymphoma after a previous filing setback with the US regulator.

HyBryte targets a niche but growing CTCL market, where it could challenge Valchlor (mechlorethamine). Interim data suggest stronger responses and safety advantages, though wider trials remain crucial.