Oragenics Inc. (NYSE American: OGEN), a biotechnology firm specializing in intranasal pharmaceuticals for neurological disorders, has announced a significant financial move aimed at bolstering its research and development initiatives. The company has entered into a placement agency agreement for the sale of up to 800,000 shares of Series H Convertible Preferred Stock and accompanying Warrants, with each unit priced at $25.00. This strategic offering could generate gross proceeds of up to $20 million, earmarked for supporting the ONP-2 concussion trials, furthering R&D activities, repaying a $3 million bridge note, and addressing general corporate needs.
The Warrants included in the offering grant the holder the right to purchase an additional Preferred share at the same $25.00 price, with the Preferred shares being convertible into common stock at $2.50 per share. Dawson James Securities, Inc. is serving as the sole placement agent for this transaction, which is anticipated to close on or around July 2, 2025. This financial infusion is pivotal for Oragenics as it seeks to advance its pipeline of innovative treatments for neurological conditions, including mild traumatic brain injury (mTBI) or concussion, and Niemann Pick Disease Type C (NPC).
The announcement underscores Oragenics’ commitment to developing novel therapeutic solutions through its proprietary powder formulation and intranasal delivery device. The funds raised through this offering will play a critical role in accelerating the company’s clinical trials and expanding its research capabilities, potentially leading to breakthroughs in the treatment of neurological disorders. For more details on the offering, interested parties can view the full press release here.
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