Oragenics Inc. (NYSE American: OGEN), a clinical-stage biotechnology company, has successfully closed a public offering of Series H Convertible Preferred Stock and Warrants, amassing approximately $16.5 million in gross proceeds. This financial achievement underscores the company’s commitment to advancing its intranasal therapeutics for neurological disorders, particularly its ONP-002 treatment for concussions.
The offering involved the sale of 660,000 units, each consisting of one share of Series H Convertible Preferred Stock and one Warrant, priced at $25.00 per unit. The Warrants, which are immediately exercisable at the same price, have the potential to generate an additional $16.5 million if fully exercised. This influx of capital is earmarked for several critical areas: the clinical development of ONP-002, repayment of a $3 million bridge note, and bolstering the company’s research and development efforts alongside general operational needs.
Dawson James Securities played a pivotal role as the sole placement agent for this offering. The successful fundraising effort is a testament to the confidence investors have in Oragenics’ innovative approach to treating neurological conditions through nasal delivery of pharmaceutical medications. The company’s focus on mild traumatic brain injury (mTBI), or concussion, and Niemann Pick Disease Type C (NPC), positions it at the forefront of addressing unmet medical needs in neurology.
For further details on Oragenics’ groundbreaking work and this recent financial milestone, interested parties can explore the full press release here. This development not only highlights Oragenics’ progress in the biotechnology sector but also its potential to make significant contributions to the treatment of neurological disorders.
This news story relied on content distributed by None. Blockchain Registration, Verification & Enhancement provided by NewsRamp
. The source URL for this press release is Oragenics Inc. Secures $16.5 Million to Advance Intranasal Concussion Therapy.