Oragenics, Inc. Announces Closing of Public Offering
Oragenics, Inc. (NYSE American: OGEN), a company developing intranasal pharmaceuticals for neurological disorders, has closed its public offering of 3,078,378 common stock shares and 5,028,206 pre-funded warrants. The offering price was $0.55 per share and $0.549 per pre-funded warrant, with a $0.001 exercise price for each warrant. The company raised approximately $4.45 million in gross proceeds before deducting fees and expenses. Oragenics plans to use the funds for the continued development of its ONP-002 product candidate and general corporate purposes. Post-offering, Oragenics has 8,659,071 outstanding common stock shares and 5,028,206 outstanding pre-funded warrants. Dawson James Securities, Inc. acted as the sole placement agent for this offering.
Oragenics, Inc. (NYSE American: OGEN), un'azienda che sviluppa farmaci intranasali per disturbi neurologici, ha chiuso la sua offerta pubblica di 3.078.378 azioni ordinarie e 5.028.206 warrant pre-finanziati. Il prezzo di offerta era di 0,55 $ per azione e 0,549 $ per warrant pre-finanziato, con un prezzo di esercizio di 0,001 $ per ciascun warrant. L'azienda ha raccolto circa 4,45 milioni di dollari in proventi lordi prima della detrazione di commissioni e spese. Oragenics prevede di utilizzare i fondi per il continuo sviluppo del suo candidato prodotto ONP-002 e per scopi aziendali generali. Dopo l'offerta, Oragenics ha 8.659.071 azioni ordinarie in circolazione e 5.028.206 warrant pre-finanziati in circolazione. Dawson James Securities, Inc. ha agito come unico agente di collocamento per questa offerta.
Oragenics, Inc. (NYSE American: OGEN), una empresa que desarrolla productos farmacéuticos intranasales para trastornos neurológicos, ha cerrado su oferta pública de 3.078.378 acciones comunes y 5.028.206 warrants prefinanciados. El precio de la oferta fue de 0,55 $ por acción y 0,549 $ por warrant prefinanciado, con un precio de ejercicio de 0,001 $ por cada warrant. La empresa recaudó aproximadamente 4,45 millones de dólares en ingresos brutos antes de deducir comisiones y gastos. Oragenics planea utilizar los fondos para el desarrollo continuo de su candidato a producto ONP-002 y para propósitos corporativos generales. Después de la oferta, Oragenics tiene 8.659.071 acciones comunes en circulación y 5.028.206 warrants prefinanciados en circulación. Dawson James Securities, Inc. actuó como el único agente de colocación para esta oferta.
Oragenics, Inc. (NYSE American: OGEN)는 신경 장애를 위한 비강 제제를 개발하는 회사로, 3,078,378주와 5,028,206개의 선지급 워런트를 포함한 공개 공모를 마감했습니다. 공모가는 주당 0.55 달러 및 선지급 워런트당 0.549 달러였으며, 각 워런트의 행사가는 0.001 달러입니다. 이 회사는 수수료 및 비용을 공제하기 전 약 445만 달러의 총 수익을 올렸습니다. Oragenics는 이 자금을 ONP-002 제품 후보의 지속적인 개발과 일반 기업 용도로 사용할 계획입니다. 공모 후, Oragenics는 8,659,071주의 발행주식과 5,028,206개의 선지급 워런트를 보유하고 있습니다. Dawson James Securities, Inc.는 이 공모의 단독 중개인 역할을 했습니다.
Oragenics, Inc. (NYSE American: OGEN), une société développant des médicaments intranasaux pour les troubles neurologiques, a terminé son offre publique de 3.078.378 actions ordinaires et de 5.028.206 bons de souscription préfinancés. Le prix de l'offre était de 0,55 $ par action et de 0,549 $ par bon de souscription préfinancé, avec un prix d'exercice de 0,001 $ par bon. La société a recueilli environ 4,45 millions de dollars de recettes brutes avant déduction des frais et des dépenses. Oragenics prévoit d'utiliser ces fonds pour le développement continu de son candidat produit ONP-002 et à des fins corporatives générales. Après l'offre, Oragenics possède 8.659.071 actions ordinaires en circulation et 5.028.206 bons de souscription préfinancés en circulation. Dawson James Securities, Inc. a agi en tant qu'agent de placement unique pour cette offre.
Oragenics, Inc. (NYSE American: OGEN), ein Unternehmen, das intranasale Arzneimittel für neurologische Störungen entwickelt, hat seine öffentliche Angebot von 3.078.378 Stammaktien und 5.028.206 vorfinanzierten Warrants abgeschlossen. Der Angebotspreis betrug 0,55 $ pro Aktie und 0,549 $ pro vorfinanziertem Warrant, mit einem Ausübungspreis von 0,001 $ pro Warrant. Das Unternehmen hat ungefähr 4,45 Millionen $ an Bruttoerlösen vor Abzug von Gebühren und Kosten erzielt. Oragenics plant, die Mittel für die fortgesetzte Entwicklung seines Produktkandidaten ONP-002 und allgemeine Unternehmenszwecke zu verwenden. Nach dem Angebot hat Oragenics 8.659.071 ausstehende Stammaktien und 5.028.206 ausstehende vorfinanzierte Warrants. Dawson James Securities, Inc. fungierte als alleiniger Platzierungsagent für dieses Angebot.
- Raised approximately $4.45 million in gross proceeds
- Funds to be used for development of ONP-002 product candidate
- Successful closing of public offering indicates investor interest
- Potential dilution of existing shareholders due to new share issuance
- Pre-funded warrants may lead to additional dilution if exercised
Insights
Oragenics' $4.45 million public offering is a double-edged sword for investors. While it provides much-needed capital for ONP-002 development and working capital, it comes at the cost of significant dilution. The company's outstanding shares have increased by 55%, from 5,580,693 to 8,659,071, with potential for further dilution from pre-funded warrants. The offering price of $0.55 per share represents a substantial discount to recent trading prices, suggesting weak investor demand. This capital raise, while necessary for operations, may put downward pressure on the stock price in the short term. Long-term prospects hinge on the success of ONP-002, but the company's cash burn rate and potential need for future dilutive offerings remain concerns.
The $4.45 million raised provides Oragenics with important funding to advance ONP-002, their intranasal pharmaceutical for neurological disorders. This capital injection could accelerate clinical development and potentially bring the product closer to market. However, the relatively small amount raised raises questions about the scope and duration of planned studies. Investors should closely monitor the company's burn rate and clinical milestones to assess if additional funding will be needed before reaching significant value-creating events. The focus on intranasal delivery for neurological disorders is promising, potentially offering improved drug efficacy and patient compliance, but success hinges on forthcoming clinical data.
This offering reflects the challenging funding environment for small-cap biotech companies. The significant dilution and discounted share price suggest investor skepticism about Oragenics' near-term prospects. However, the company's focus on intranasal pharmaceuticals for neurological disorders taps into a growing market trend. The global neurology drugs market is projected to reach
SARASOTA, Fla., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Oragenics, Inc. (NYSE American: OGEN), a company focused on developing unique, intranasal pharmaceuticals for the treatment of neurological disorders, today announced the closing of its previously announced offering of 3,078,378 shares of its common stock and pre-funded warrants to purchase up to 5,028,206 shares of common stock at an offering price of
The gross proceeds of the offering are approximately
Dawson James Securities, Inc. acted as the sole placement agent for the offering.
Shumaker, Loop & Kendrick, LLP, represented the Company in connection with the offering, and ArentFox Schiff LLP, Washington, DC, represented the placement agent.
The offering was made pursuant to a registration statement on Form S-1 (File No. 333-281618), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 16, 2024, and declared effective on September 3, 2024.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Oragenics
Oragenics is a development-stage biotechnology company focused on nasal delivery of pharmaceutical medications in neurology and fighting infectious diseases, including drug candidates for treating mild traumatic brain injury (mTBI), also known as concussion, and for treating Niemann Pick Disease Type C (NPC), as well as proprietary powder formulation and an intranasal delivery device. For more information, please visit www.oragenics.com.
Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s beliefs and assumptions and information currently available. The words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project” and similar expressions that do not relate solely to historical matters identify forward-looking statements. Investors should be cautious in relying on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in any such forward-looking statements. These factors include, but are not limited to, those described in our Form 10-K and other filings with the U.S. Securities and Exchange Commission. All information set forth in this press release is as of the date hereof. You should consider these factors in evaluating the forward-looking statements included in this press release and not place undue reliance on such statements. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by law.
Oragenics, Inc.
Janet Huffman, Chief Financial Officer
813-286-7900
jhuffman@oragenics.com
Investor Relations:
Rich Cockrell
404.736.3838
achv@cg.capital
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