Oragenics Inc. Secures $16.5 Million to Advance Concussion Treatment Development

Oragenics Inc. (NYSE American: OGEN), a clinical-stage biotechnology company, has successfully closed a public offering of Series H Convertible Preferred Stock and Warrants, raising approximately $16.5 million in gross proceeds. This financial injection is primarily designated for the clinical development of ONP-002, an innovative intranasal therapy targeting concussions, in addition to repaying a $3 million bridge note and supporting ongoing research and development initiatives. The company issued 660,000 units, each comprising one share of Series H Convertible Preferred Stock and one Warrant, at a price of $25.00 per unit. The Warrants, exercisable immediately at the same price, could potentially bring in an additional $16.5 million if fully exercised, with Dawson James Securities acting as the sole placement agent for the offering.

The importance of this funding round cannot be overstated, as it promises to expedite the development of groundbreaking treatments for neurological disorders, especially mild traumatic brain injury (mTBI), or concussions. Oragenics' pioneering work in the nasal delivery of pharmaceutical medications offers a fresh perspective in the medical field, potentially leading to more effective and less invasive treatment methodologies. The proceeds from this offering are expected to not only propel the clinical trials for ONP-002 forward but also enhance the company's research infrastructure and operational capacity, highlighting its dedication to solving critical challenges in neurology and infectious diseases. For more information on Oragenics Inc. and its innovative approaches to treatment, visit https://www.oragenics.com.