SARASOTA, Fla. - Oragenics (NYSE:OGEN), Inc. (NYSE American: OGEN), a biotechnology firm specializing in intranasal pharmaceuticals for neurological disorders, has announced its plan to conduct an underwritten public offering of its common stock and potentially pre-funded warrants. The offering is contingent on market conditions, and the company will offer underwriters a 45-day option to purchase additional shares to cover over-allotments, if necessary.
Joint book-running managers for the offering are ThinkEquity and Laidlaw & Company (UK) Ltd. Oragenics aims to allocate the net proceeds from this offering towards the advancement of ONP-002, a neurosteroid drug compound designed to treat mild traumatic brain injuries, commonly known as concussions, as well as for general corporate purposes and working capital.
The securities will be offered pursuant to a shelf registration statement on Form S-3, filed with the U.S. Securities and Exchange Commission (SEC) on January 13, 2023, and declared effective on January 25, 2023. The terms of the offering will be detailed in a preliminary prospectus supplement and accompanying prospectus filed with the SEC.
Oragenics has a development focus that includes neurology and infectious diseases, with drug candidates for the treatment of concussions and Niemann Pick Disease Type C (NPC), in addition to its proprietary powder formulation and intranasal delivery device.
Investors are cautioned regarding forward-looking statements contained in the press release, which are subject to various risks and uncertainties. These statements are based on current management beliefs and information, expressing expectations about the company's ability to complete the offering and successfully proceed with Phase II clinical trials for the treatment of mild Traumatic Brain Injury using its novel drug-device combination.
The company's ability to progress with its product candidates, secure necessary funding, and obtain and maintain patent protections, among other factors, are cited as influencing the actual results, which may differ from those projected in the forward-looking statements.
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