Zacks Small Cap Research – SNGX: Marburg Outbreak Puts Focus on Soligenix Vaccine Development… – Technologist

By David Bautz, PhD

NASDAQ:SNGX

READ THE FULL SNGX RESEARCH REPORT

Business Update

Marburg Virus Outbreak Puts Focus on Soligenix Vaccine Development

Soligenix, Inc. (NASDAQ:SNGX) is developing vaccines targeting multiple filoviruses, including MarVax™, a heat stable vaccine for protection against Marburg virus. Recent events highlight the importance of the company’s vaccine development program.

On October 2, 2024, two tracks at a train station in Hamburg, Germany were cordoned off due to the possibility that a traveler was infected with Marburg virus. A 26-year old German medical student had recently flown from Rwanda to Frankfurt and was on a train from Frankfurt to Hamburg when he and his girlfriend both developed flu-like symptoms. The student had reportedly come into contact with a patient in Rwanda later confirmed to be infected with Marburg virus.

Rwanda is currently experiencing an outbreak of Marburg virus, with 26 confirmed cases, eight deaths, and 300 people having been identified as having come into close contact with those infected with the virus. The World Health Organization (WHO) has advised against all travel to Rwanda while the country attempts to get the outbreak under control.

Marburg marburgvirus (MARV) is a member of the Filoviridae family (that includes the well-publicized Zaire ebolavirus ‘Ebola virus’) that has a mortality rate up to 88% and few treatment options outside of supportive care. These viruses are carried by fruit bats and are spread through close contact with bodily fluids of infected individuals or with infected surfaces. It is currently unclear what originated the ongoing outbreak in Rwanda.

While approved vaccines exist for Ebola virus (which require cold-chain storage), there are no approved vaccines or treatments for MARV. Soligenix is developing vaccines against Zaire ebolavirus, Sudan ebolavirus, and Marburg marburgvirus as monovalent and multivalent formulations. The vaccines have demonstrated very high efficacy, including 100% protection in a non-human primate challenge model with Marburg marburgvirus, as shown in the following figure.

The vaccines are being developed using the company’s proprietary ThermoVax™ technology, which consists of a glycoprotein antigen from the viral surface of each virus that is manufactured in an S2 insect cell expression system and the CoVaccine HT™ adjuvant, which is known to stimulate both humoral (antibody) and cell-mediated (T cell) immunity. These are combined and lyophilized to ensure stability even at elevated temperatures (40ºC) for extended periods of time (at least two years). The vaccines are being developed with support from a National Institute of Health (NIH) grant awarded to the University of Hawaii.

Conclusion

It appears that filovirus outbreaks will continue to occur, thus necessitating the need for effective vaccines. Soligenix’s ThermoVax technology confers a number of advantages to its development vaccines, including extended stability at elevated temperatures, and they have also shown very high efficacy in non-human primate models. We look forward to updates from the company as a pre-IND meeting is expected to occur regarding the vaccine program in the next 12 months. With no changes to our model, our valuation remains at $35 per share.

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