Oragenics announces reverse stock split to begin June 3

SARASOTA, Fla. - Oragenics, Inc. (NYSE American: OGEN), a biotechnology company specializing in treatments for neurological disorders, has announced a reverse stock split approved by its Board of Directors. The one-for-thirty reverse stock split of the company’s common stock is set to take effect at the start of trading on June 3, 2025. The announcement comes as the company’s stock, currently trading at $0.19, has experienced a significant decline of nearly 91% over the past year, according to InvestingPro data.

The reverse stock split will consolidate every 30 existing shares of common stock into one new share. This action will not require any effort from shareholders as the conversion will be automatic. Fractional shares resulting from the split will be rounded up to the nearest whole share for each shareholder. Additionally, the reverse stock split will proportionately adjust the shares issuable upon the conversion of outstanding options, warrants, and convertible securities, as well as the shares under the company’s 2021 Equity Incentive Plan. InvestingPro data shows the company maintains a current ratio of 1.04 and holds more cash than debt on its balance sheet, suggesting adequate near-term liquidity despite challenging market conditions.

The par value of the common stock will remain unchanged at $0.001 per share, as will the number of authorized but unissued common and preferred shares, except for adjustments to preferred stock conversion rates where applicable.

The decision for the reverse stock split ratio comes after shareholders granted the Board the authority to implement a split within a range of one-for-five to one-for-fifty. The company anticipates that the reverse stock split will be effective at 12:01 a.m. Eastern Time on June 3, 2025. The common stock will trade post-split under the existing ticker symbol "OGEN" but with a new CUSIP number, 684023 609.

Oragenics’ CEO, Ms. Janet Huffman, commented on the reverse stock split, stating it reflects the company’s dedication to strengthening its presence in the capital markets. Huffman expressed the belief that the increased market price per share and reduced share count will align the company more closely with the expectations of long-term, quality-focused investors.

The company’s transfer agent, Continental Stock Transfer & Trust, will provide shareholders with instructions on the share exchange process. This reverse stock split is part of Oragenics’ ongoing efforts to develop innovative therapies, including their lead asset, ONP-002, for concussion treatment.

This announcement is based on a press release statement from Oragenics, Inc. Investors are advised to consider the forward-looking statements with caution due to potential risks and uncertainties. With a market capitalization of just $4.12 million and an overall financial health score rated as WEAK by InvestingPro, investors should conduct thorough due diligence. InvestingPro subscribers have access to 7 additional key insights and extensive financial metrics to better evaluate the company’s prospects.

In other recent news, Oragenics, Inc. has received approval from Australia’s Human Research Ethics Committee to begin Phase II clinical trials for its intranasal neuroprotective therapy, ONP-002, aimed at treating mild traumatic brain injury, commonly known as concussion. This marks a significant step forward in the company’s global clinical development efforts. Additionally, Oragenics has announced the appointment of Janet Huffman as the new Chief Executive Officer while she continues in her role as Chief Financial Officer. The company has also amended Huffman’s employment terms, including a performance-based bonus structure.

Oragenics recently reported progress in its concussion drug development, highlighting ONP-002’s advancement through preclinical validation and clinical safety data. The company has established a partnership with BRAINBox Solutions to integrate diagnostic biomarkers with ONP-002’s delivery system. Shareholders have approved several key proposals, including a potential reverse stock split and an increase in shares available under the 2021 Equity Incentive Plan. Furthermore, the company has raised approximately $5 million through equity and debt financing to support its financial position. These developments underscore Oragenics’ commitment to advancing its therapeutic solutions and enhancing shareholder value.

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