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 boost is earmarked for the clinical development of ONP-002, a promising intranasal therapy aimed at treating concussions, alongside repaying a $3 million bridge note and supporting ongoing research and development efforts.
The company sold 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 exercisable immediately at the same price, hold the potential to generate an additional $16.5 million if fully exercised. Dawson James Securities served as the sole placement agent for this offering.
This funding round is a pivotal moment for Oragenics as it seeks to advance its innovative treatments for neurological disorders, including mild traumatic brain injury (mTBI), commonly known as concussion, and Niemann Pick Disease Type C (NPC). The development of ONP-002 represents a significant leap forward in the field of neurology, offering hope for more effective and less invasive treatment options.
For further details on Oragenics' groundbreaking work and this recent financial achievement, visit https://ibn.fm/5Urvg.
