Soligenix (NASDAQ:SNGX) shares are trading lower after the company said it will not pursue a rolling New Drug Application with the FDA and instead collect more data for a 2022 submission for its HyBryte.

Soligenix Inc is a late-stage biopharmaceutical company based in the United States. It focuses on developing and commercializing products to treat rare diseases where there is an unmet medical need. 

The stock was trading 17.20% lower at $1.06 per share at the time of writing. The stock has a 52-week high $2.99 and a 52-week low of $1.