Soligenix stops Phase III trial of orBec

Soligenix Inc. (OTCBB:SNGX) discontinued the Phase III SUPPORTS trial of orBec beclomethasone dipropionate to treat acute gastrointestinal graft-versus-host disease (GvHD). An interim analysis showed that it is "highly unlikely" that orBec will meet the primary endpoint of improving treatment failure rate at day 80 vs. placebo.

As a result, Soligenix will cut costs and evaluate strategic options, including whether to further pursue development in GvHD. The company said Thursday that it has $7.4 million in cash. Soligenix's 1H11 loss from operations was $3.7 million. Sigma-Tau Group (Pomezia, Italy) has exclusive rights in North America and Europe to market orBec. Soligenix fell $0.21 (79%) to $0.06 on Thursday. ...