Oragenics announces $20 million preferred stock offering

SARASOTA, Fla. - Oragenics, Inc. (NYSE American:OGEN), a company developing intranasal pharmaceuticals for neurological disorders, announced Tuesday it has entered into a placement agency agreement to sell up to 800,000 shares of Series H Convertible Preferred Stock and accompanying warrants. According to InvestingPro data, the micro-cap company, currently valued at $2.73 million, has seen its stock decline 65.52% year-to-date, though it maintains more cash than debt on its balance sheet.

The offering, priced at $25.00 per preferred share and warrant combination, is expected to raise approximately $20 million before fees and expenses. Each preferred share is convertible into common stock at $2.50 per share, with warrants exercisable at $25.00 per share. The financing comes as InvestingPro analysis shows the company’s overall financial health score at 1.32 (WEAK), with the stock currently trading at $3.82.

The company plans to use proceeds to fund ongoing clinical trials of ONP-2 for concussion treatment, support related research activities, repay a $3 million bridge note, and for general corporate purposes.

Dawson James Securities, Inc. is serving as the sole placement agent for the transaction, which is expected to close around July 2, 2025, subject to customary closing conditions.

The offering is being conducted through a registration statement on Form S-1 filed with the Securities and Exchange Commission that was declared effective on June 30, 2025.

Oragenics focuses on developing nasal delivery systems for pharmaceutical medications in neurology, including drug candidates for treating mild traumatic brain injury, also known as concussion. InvestingPro has identified 8 additional key insights about Oragenics’ financial position and market performance - unlock these insights and more with an InvestingPro subscription.

This article is based on information from a company press release.

In other recent news, Oragenics, Inc. reported several significant developments. The company announced a reverse stock split, consolidating every 30 existing shares into one new share, effective June 3, 2025. This decision, approved by shareholders, aims to strengthen Oragenics’ presence in the capital markets. Additionally, Oragenics received approval from Australia’s Human Research Ethics Committee to begin Phase II clinical trials for its concussion therapy, ONP-002. This trial, set to commence in the second quarter of 2025, marks a key step in the company’s global clinical expansion. Janet Huffman was appointed as the new Chief Executive Officer, while also continuing her role as Chief Financial Officer. Her appointment comes with a one-year Executive Employment Agreement, including a base salary and performance-based bonus. Furthermore, shareholders approved an amendment to increase shares available for awards under the company’s Equity Incentive Plan, contingent on the reverse stock split. These developments highlight Oragenics’ ongoing efforts to advance its strategic and clinical objectives.

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