SOLIGENIX, INC. Commitments Disclosure
Note 10. Commitments and Contingencies
The Company has commitments of approximately $230,000 as of December 31, 2024 over the next five years for several licensing agreements with partners and universities. Additionally, the Company has collaboration and license agreements, which upon clinical or commercialization success, may require the payment of milestones of up to approximately $13.2 million, royalties on net sales of covered products ranging from 2% to 3%, sub-license income royalties on covered products up to 15% and sub-license global net sales royalties on covered products ranging from 1.5% to 2.5%, if and when achieved. However, there can be no assurance that clinical or commercialization success will occur.
The Company currently leases approximately 6,200 square feet of office space. This office space currently serves as the Company’s corporate headquarters, and both of the Company’s business segments (Specialized BioTherapeutics and Public Health Solutions), operate from this space. Pursuant to the lease which expires October 2025, the current rent is $11,625 per month.
As a result of the above agreements, the Company has future contractual obligations over the next five years as follows:
| Research and |
|
|
| |||||
Year |
| Development |
| Leases |
| Total | |||
2025 | $ | 46,000 | $ | 116,250 | $ | 162,250 | |||
2026 |
| 46,000 |
| — |
| 46,000 | |||
2027 |
| 46,000 |
| — |
| 46,000 | |||
2028 | 46,000 | — | 46,000 | ||||||
2029 | 46,000 | — | 46,000 | ||||||
Total | $ | 230,000 | $ | 116,250 | $ | 346,250 | |||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Mar 21, 2025 | Showing above |
| 2020 | Mar 30, 2021 | |
| 2019 | Mar 30, 2020 | |
| 2018 | Mar 26, 2019 | |
| 2017 | Mar 15, 2018 | |
About Commitments Disclosures
Commitments and contingencies disclosures catalog a company's off-balance-sheet obligations and legal exposures — purchase commitments, guarantee arrangements, pending litigation, and regulatory proceedings. These items represent potential future cash outflows that may not appear as liabilities on the balance sheet until they become probable and estimable.
Key signals: litigation reserves and disclosed loss ranges quantify management's estimate of legal exposure, but unquantified "reasonably possible" losses often represent the larger risk. Watch for changes in language around pending cases — shifts from "remote" to "reasonably possible" or increases in estimated loss ranges signal deteriorating outcomes. Unconditional purchase obligations and take-or-pay contracts create fixed cost structures that reduce operational flexibility. Guarantee arrangements for subsidiaries or joint ventures can create cascading obligations. Compare the total commitment schedule against projected free cash flow to assess whether the company can meet its obligations without additional financing.