Note 1. Nature of Business Basis of Presentation Soligenix, Inc. (the Company) is a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need. The Company maintains two active business segments: Specialized BioTherapeutics and Public Health Solutions. The Companys Specialized BioTherapeutics business segment is developing a novel photodynamic therapy (SGX301) utilizing topical synthetic hypericin activated with safe visible light for the treatment of cutaneous T-cell lymphoma (CTCL), its first-in-class innate defense regulator technology, dusquetide (SGX942) for the treatment of oral mucositis in head and neck cancer, and proprietary formulations of oral beclomethasone 17,21-dipropionate (BDP) for the prevention/treatment of gastrointestinal disorders characterized by severe inflammation, including pediatric Crohns disease (SGX203) and acute radiation enteritis (SGX201). The Companys Public Health Solutions business segment includes active development programs for RiVax  , its ricin toxin vaccine candidate and SGX943, a therapeutic candidate for antibiotic resistant and emerging infectious disease, and vaccine programs, including a program targeting filoviruses (such as Marburg and Ebola) and a program developing CiVaxa TM , its vaccine candidate for the prevention of COVID-19 (caused by SARS-CoV-2). The development of the vaccine programs is currently supported by the heat stabilization technology, known as ThermoVax  . To date, this business segment has been supported with government grant and contract funding from the National Institute of Allergy and Infectious Diseases (NIAID), the Biomedical Advanced Research and Development Authority and the Defense Threat Reduction Agency (DTRA). The Company generates revenues under government grants primarily from the National Institutes of Health (NIH) and government contracts from NIAID. The Company is currently developing RiVax  under a NIAID contract of up to $21.2 million over six years, and a one-year NIH grant of $150,000 in support of its SGX942 pediatric program. In addition, the Company has a subcontract of approximately $700,000 from a NIAID grant over five years for its thermostabilization technology, and a DTRA subcontract of approximately $600,000 over three years for SGX943. The Company will continue to apply for additional government funding. The Company is subject to risks common to companies in the biotechnology industry including, but not limited to, development of new technological innovations, dependence on key personnel, protections of proprietary technology, compliance with the United States (U.S.) Food and Drug Administration regulations, and other regulatory authorities, litigation, and product liability. Results for the three and nine months ended September 30, 2020 are not necessarily indicative of results that may be expected for the full year. Liquidity In accordance with Accounting Standards Codification 205-40, Going Concern, the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Companys ability to continue as a going concern within one year after the date the consolidated financial statements are issued. As of September 30, 2020, the Company had an accumulated deficit of $187,673,869. During the nine months ended September 30, 2020, the Company incurred a net loss of $12,148,257 and used $7,329,471 of cash in operating activities. The Company expects to continue to generate losses in the foreseeable future. The Companys liquidity needs will be largely determined by the budgeted operational expenditures incurred in regards to the progression of its product candidates. The Companys plans to meet its liquidity needs primarily include its ability to control the timing and spending on its research and development programs and raising additional funds through potential partnership and/or financings. Based on the Companys approved operating budget, current rate of cash outflows, cash on hand, proceeds from government contract and grant programs, and proceeds available from the At Market Issuance Sales Agreement (FBR Sales Agreement) with B. Riley FBR Inc. (FBR), management believes that its current cash will be sufficient to meet the anticipated cash needs for working capital and capital expenditures for at least the next 12 months from issuance of the financial statements. As of September 30, 2020, the Company had cash and cash equivalents of $11,342,794 as compared to $5,420,708 as of December 31, 2019, representing an increase of $5,922,086 or 109%. As of September 30, 2020, the Company had working capital of $7,193,758 as compared to working capital of $1,181,249 as of December 31, 2019, representing an increase of $6,012,509 or 508%. The increase in cash and working capital was primarily related to proceeds received from the utilization of the FBR Sales Agreement and warrant exercises during the nine months ended September 30, 2020 and management of cash burn, partially offset by cash used in operating activities . Managements business strategy can be outlined as follows: Following positive primary endpoint topline analysis for the Phase 3 clinical trial of SGX301, as well as further statistically significant improvement in response rates with longer treatment (18 weeks compared to 12 and 6 weeks), continue to explore partnership and commercialization while pursuing New Drug Application filing; Following positive interim analysis and enrollment completion, report final topline results in the Companys pivotal Phase 3 clinical trial of SGX942 for the treatment of oral mucositis in head and neck cancer; Continue development of RiVax  (ricin toxin vaccine) and CiVax TM (COVID-19 vaccine) in combination with the Companys ThermoVax  technology to develop new heat stable vaccines in biodefense and public health with NIAID funding support; Continue development of our therapeutic SGX943 and our vaccine programs targeting filoviruses (such as Marburg and Ebola) with DTRA and NIAID funding support; Pursue business development opportunities for the Companys pipeline programs, as well as explore all strategic alternatives, including but not limited to merger/acquisition strategies; and Acquire or in-license new clinical-stage compounds for development. The Companys plans with respect to its liquidity management include, but are not limited to, the following: The Company has up to $0.9 million in active government contract and grant funding still available as of September 30, 2020, to support its associated research programs through 2020 and beyond. The Company plans to submit additional contract and grant applications for further support of its programs with various funding agencies. The Company has continued to use equity instruments to provide a portion of the compensation due to vendors and collaboration partners and expects to continue to do so for the foreseeable future. The Company will continue to pursue Net Operating Loss (NOL) sales in the state of New Jersey pursuant to its Technology Business Tax Certificate Transfer Program if the program is available. The Company plans to pursue potential partnerships for pipeline programs; however, there can be no assurances that it can consummate such transactions. The Company has $20.0 million remaining from the FBR Sales Agreement as of November 09, 2020 under the prospectus supplement filed August 28, 2020 , as no sales have been made under the FBR Sales Agreement since July 28, 2020. The Company has obtained a Paycheck Protection Program Loan through financial stimulus packages authorized by both the federal and state governments based on the current outbreak of SARS-CoV-2, the pathogen responsible for COVID-19. The loan amount totaling $417,830 was granted by the Small Business Administration ("SBA") and administered through JPMorgan Chase Bank, N.A. to fund the Companys payroll costs and other expenses allowed by the program. The Company will continue to explore and evaluate additional funding options through financial stimulus packages afforded by both the federal and state governments based on the current outbreak of SARS-CoV-2, the pathogen responsible for COVID-19 if and as they become available. The Company may seek additional capital in the private and/or public equity markets, to continue its operations, respond to competitive pressures, develop new products and services, and to support new strategic partnerships. The Company is evaluating additional equity/debt financing opportunities on an ongoing basis and may execute them when appropriate. However, there can be no assurances that the Company can consummate such a transaction, or consummate a transaction at favorable pricing.