11:19 AM EDT, 04/15/2024 (MT Newswires) -- Soligenix ( SNGX ) shares rose 58% recent Monday trading after the company said the active ingredient in MarVax received an orphan drug designation from the US Food and Drug Administration.

The active ingredient in MarVax, the subunit protein vaccine of recombinantly termed Marburg marburgvirus glycoprotein, received the designation for "the prevention and post-exposure prophylaxis against MARV infection," the biopharmaceutical company said.

Marburg marburgvirus causes Marburg Virus Disease, related to the Ebola Virus Disease.