Oragenics closed a public offering, raising $16.5 million for its concussion drug development and general corporate purposes.
Quiver AI Summary
Oragenics, Inc., a biotechnology company specializing in intranasal therapeutics for neurological disorders, has successfully closed its public offering of Series H Convertible Preferred Stock and Warrants, raising approximately $16.5 million in gross proceeds. The offering involved the issuance of 660,000 shares of preferred stock along with warrants for additional stock, with the potential to raise up to $33 million if all warrants are exercised. The funds will be used to advance the clinical development of ONP-002, an intranasal drug candidate for concussion treatment, as well as to support research and development, repay a bridge note, and cover general corporate expenses. CEO Janet Huffman expressed confidence in the investor support and the company’s commitment to leading in concussion treatment. The offering was facilitated by Dawson James Securities, Inc., and the securities were registered with the SEC.
Potential Positives
- Oragenics successfully closed a public offering of Series H Convertible Preferred Stock and Warrants, securing approximately $16.5 million in gross proceeds.
- The company has the potential to raise an additional $16.5 million if all Warrants are exercised, totaling $33 million from this offering.
- The net proceeds will be used to advance the clinical development of ONP-002, which targets treatment for concussion, enhancing the company's position in the intranasal therapeutics market.
- The offering reflects strong investor support and growing confidence in Oragenics' science and strategy, as noted by CEO Janet Huffman.
Potential Negatives
- The issuance of Series H Convertible Preferred Stock and Warrants may dilute existing shareholders' equity if the Warrants are exercised and the Preferred Stock is converted into common stock.
- The company is required to repay a $3 million bridge note, indicating it has existing debt obligations that must be addressed, which could impact its financial stability.
- Forward-looking statements indicate uncertainty regarding the company's plans and future performance, which may raise concerns among investors about the feasibility of advancing its drug candidate, ONP-002.
FAQ
What did Oragenics announce on July 2, 2025?
Oragenics announced the successful closing of its public offering of Series H Convertible Preferred Stock and Warrants, raising approximately $16.5 million.
How many shares of Series H Preferred Stock were issued?
The company issued 660,000 shares of its Series H Convertible Preferred Stock as part of the offering.
What is the purpose of the funds raised from the offering?
The proceeds will advance the clinical development of ONP-002, repay a bridge note, and support other research and general corporate purposes.
Who acted as the placement agent for the offering?
Dawson James Securities, Inc. acted as the sole placement agent for the Series H Convertible Preferred Stock offering.
What is ONP-002 and its significance?
ONP-002 is Oragenics' leading intranasal drug candidate aimed at treating mild traumatic brain injury (concussion).
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$OGEN Insider Trading Activity
$OGEN insiders have traded $OGEN stock on the open market 4 times in the past 6 months. Of those trades, 0 have been purchases and 4 have been sales.
Here’s a breakdown of recent trading of $OGEN stock by insiders over the last 6 months:
- HEALTH, INC. ODYSSEY has made 0 purchases and 4 sales selling 17,044 shares for an estimated $74,007.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$OGEN Hedge Fund Activity
We have seen 9 institutional investors add shares of $OGEN stock to their portfolio, and 8 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GEODE CAPITAL MANAGEMENT, LLC added 46,343 shares (+120.4%) to their portfolio in Q1 2025, for an estimated $9,732
- HRT FINANCIAL LP removed 18,640 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $3,914
- MUTUAL ADVISORS, LLC added 16,000 shares (+inf%) to their portfolio in Q1 2025, for an estimated $3,360
- XTX TOPCO LTD removed 14,080 shares (-36.2%) from their portfolio in Q1 2025, for an estimated $2,956
- GSB WEALTH MANAGEMENT, LLC added 10,725 shares (+53.1%) to their portfolio in Q1 2025, for an estimated $2,252
- WARBERG ASSET MANAGEMENT LLC removed 10,001 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $2,100
- TWO SIGMA SECURITIES, LLC added 8,141 shares (+48.0%) to their portfolio in Q1 2025, for an estimated $1,709
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SARASOTA, Fla., July 02, 2025 (GLOBE NEWSWIRE) -- Oragenics, Inc. (NYSE American: OGEN), a clinical-stage biotechnology company pioneering intranasal therapeutics for neurological disorders, today announced the successful closing of its previously announced public offering of Series H Convertible Preferred Stock and Warrants. The Company secured total gross proceeds of approximately $16.5 million.
As part of the transaction, Oragenics issued 660,000 shares of its Series H Convertible Preferred Stock, no par value, together with Warrants to purchase up to 660,000 additional shares of Series H Convertible Preferred Stock. Each unit, consisting of one share of Preferred Stock and one Warrant, was sold at a combined public offering price of $25.00. Each Warrant is exercisable at a price of $25.00 per share of Series H Convertible Preferred Stock. If all the Warrants are exercised for cash, of which there are no assurances, the Company has the potential to raise up to an additional $16.5 million, for a total of $33 million in the offering.
The Series H Convertible Preferred Stock is convertible into shares of Oragenics’ common stock, par value $0.001 per share, based upon a conversion price of $2.50. The Warrants are immediately exercisable and will expire on the fifth anniversary of the closing. The offering closed on July 2, 2025, following satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the offering to advance the clinical development of ONP-002, its intranasal drug candidate for the treatment of concussion (mild traumatic brain injury), support other research and development activities, repay a $3 million bridge note, and fund working capital and general corporate purposes.
“We are pleased to have completed this transaction and are encouraged by the strong investor support, which we believe reflects growing confidence in our science and strategy,” said Janet Huffman, Chief Executive Officer of Oragenics. “We anticipate the net proceeds of this offering will allow us to accelerate the advancement of ONP-002 and position Oragenics as a leader in the treatment of concussion through novel intranasal delivery.”
Dawson James Securities, Inc. acted as the sole placement agent for the offering.
The securities were offered pursuant to a registration statement on Form S-1 (File No. 333-288225), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on June 30, 2025. A final prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus may also be obtained from Dawson James Securities, Inc., 101 North Federal Highway, Suite 600, Boca Raton, FL 33432, by telephone at (561) 391-5555, or by email at [email protected] .
Shumaker, Loop & Kendrick, LLP, Tampa, FL, represented the Company in connection with the offering, and ArentFox Schiff LLP, Washington, DC, represented the placement agent.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About Oragenics
Oragenics is a development-stage biotechnology company focused on the nasal delivery of pharmaceutical medications for neurological disorders and infectious diseases. Its lead therapeutic candidate, ONP-002, is an intranasal drug in development for the treatment of mild traumatic brain injury (concussion). The Company also holds proprietary rights to a dry powder formulation and a novel intranasal delivery device. For more information, please visit www.oragenics.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding the completion and proceeds of the offering, the use of proceeds, and the clinical advancement of ONP-002. These statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those described herein. Additional information regarding these risks can be found in Oragenics’ filings with the SEC. Oragenics undertakes no obligation to publicly update or revise any forward-looking statements unless required by law.
Oragenics, Inc.
Janet Huffman, Chief Executive Officer
813-286-7900
[email protected]
Investor Contact
Rich Cockrell
404.736.3838
[email protected]
