Oragenics, Inc. Completes Public Offering to Advance Neurology
Oragenics, Inc. Completes Public Offering
Oragenics, Inc. (NYSE American: OGEN), a pioneering biotechnology firm concentrated on developing innovative intranasal pharmaceuticals for neurological disorders, recently concluded its public offering. The offering involved 3,078,378 shares of common stock along with pre-funded warrants allowing for the purchase of an additional 5,028,206 shares of common stock. These shares were priced at $0.55 each, while the pre-funded warrants had a price of $0.549.
This successful offering has resulted in Oragenics having 8,659,071 shares of common stock outstanding along with pre-funded warrants for 5,028,206 shares. Importantly, the exercise price for these pre-funded warrants stands at just $0.001, facilitating an attractive opportunity for investors.
Significant Financial Outcomes
The gross proceeds from this public offering reached approximately $4.45 million, a sum that will be critical for Oragenics as it propels its research and development efforts forward. After deducting placement agent fees and estimated expenses associated with the offering, these funds are set to enhance the development of the company's ONP-002 product candidate alongside general working capital needs.
Placement and Legal Representation
Dawson James Securities, Inc. took the role of the sole placement agent for this offering. The company was ably represented by Shumaker, Loop & Kendrick, LLP throughout the offering process, while the placement agent was represented by ArentFox Schiff LLP based in Washington, DC.
Regulatory Framework
This transaction was executed under a registration statement on Form S-1 (File No. 333-281618), which included a base prospectus filed with the U.S. Securities and Exchange Commission (SEC). This statement was first filed on August 16, 2024, and was declared effective shortly before the offering closed on September 3, 2024.
About Oragenics, Inc.
Oragenics is currently navigating through the stages of biotechnology development, with a focus on nasal delivery systems tailored to treat neurological issues and combat infectious diseases. Their advancements specifically target mild traumatic brain injury, better known as concussion, and Niemann Pick Disease Type C. Furthermore, they are developing proprietary powder formulations and innovative intranasal delivery devices.
Contact Information
For further inquiries, contact: Janet Huffman, Chief Financial Officer
Phone: 813-286-7900
Email: jhuffman@oragenics.com
Investor Relations:
Rich Cockrell
Phone: 404.736.3838
Email: achv@cg.capital
Frequently Asked Questions
What is the purpose of Oragenics' recent public offering?
The recent offering aims to secure funding for the continued development of ONP-002 and to cover general corporate expenses and working capital.
Who served as the placement agent for Oragenics' offering?
Dawson James Securities, Inc. acted as the sole placement agent for the offering.
What is ONP-002?
ONP-002 is a product candidate developed by Oragenics aimed at treating neurological disorders through intranasal delivery.
What types of diseases is Oragenics focusing on?
Oragenics is primarily focused on treating neurological disorders, including mild traumatic brain injury and Niemann Pick Disease Type C.
Where can I find more information about Oragenics?
More information about Oragenics and its products can be found on their website at www.oragenics.com.
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