Is SNGX or SPRY more undervalued in 2026?

CirclFi compares Soligenix, Inc. (SNGX) and ARS Pharmaceuticals, Inc. (SPRY) using 13 institutional-grade valuation models. SNGX has a Quality of Company score of 5.0/10 while SPRY scores 4.7/10.

Which is a better buy — SNGX or SPRY?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do SNGX and SPRY valuations compare?

SNGX at $0.97 and SPRY at $9.40 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

SNGX vs SPRY Valuation Comparison 2026 — Intrinsic Value Analysis

SNGX

Biotechnology

Soligenix, Inc.

Quality

5.0

out of 10

Value Trap

LOW

Price

$0.97

Last close

Models

9/13

Active

SPRY

Biotechnology

ARS Pharmaceuticals, Inc.

Quality

4.7

out of 10

Value Trap

SAFE

Price

$9.40

Last close

Models

8/13

Active

Model-by-Model Comparison

Model	Type	SNGX Fair Value	SNGX Upside	SPRY Fair Value	SPRY Upside
Bayesian DCF	Intrinsic	$0.46	-52.8%	$2.27	-75.8%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$0.91	-6.8%	$1.53	-83.7%
Dynamic NAV	Asset-Based	$1.74	+78.5%	—	—
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

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SNGX vs SPRY — Which Stock Is More Undervalued?

SNGX scores higher with a 5.0/10 quality rating vs SPRY's 4.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Soligenix, Inc. (SNGX) and ARS Pharmaceuticals, Inc. (SPRY) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

SNGX currently trades at $0.97 with a QOC of 5.0/10, while SPRY trades at $9.40 with a QOC of 4.7/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).