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  • What Drove After-Hour Recovery In Oragenics (OGEN) Stock

    What Drove After-Hour Recovery In Oragenics (OGEN) Stock

    Oragenics, Inc. (NYSE: OGEN) shares displayed a noteworthy resurgence during the extended trading period on Wednesday, marking a substantial 36.52% ascent to reach $3.14. This gain effectively counterbalanced the preceding 33.62% decline in the regular session, culminating in a closing price of $2.30. The recent announcement of an equity maneuver appears to have played a pivotal role in stabilizing OGEN stock after regular trading hours.

    Last week, Oragenics (OGEN) disclosed the termination of its previously introduced “at-the-market” (“ATM”) equity offering program. The company has initiated a 5-day termination process for the ATM offering, set to be effective on January 30, 2024. Notably, no sales were executed under the ATM offering during this specified period.

    Furthermore, Oragenics has successfully concluded its previously disclosed acquisition of assets associated with Odyssey Health, Inc.’s proprietary neurological drug therapies and technologies. This includes ONP-002 and a distinctive nasal delivery device, serving as Odyssey’s primary concussion asset and considered a pioneering intranasal drug for treating moderate-to-severe concussions in the acute through subacute phases.

    The acquired assets also encompass all rights and interests in ONP-001, identified as a groundbreaking neurosteroid for addressing Niemann Pick Type-C Disease (NPC). Additionally, Odyssey’s proprietary powder formulation and intranasal delivery device are part of the acquired assets, while Odyssey retains its remaining assets and operations.

    Post the completion of this pivotal transaction, endorsed by favorable shareholder votes at both entities, Oragenics anticipates a substantial expansion in market opportunities through Odyssey’s neurological pipeline. The company perceives that Odyssey’s technology harmonizes with its proficiency in intranasal drug delivery, aiming to address a significant and escalating health concern.

    The decision to invest in this innovative therapy underscores OGEN’s commitment to pioneering solutions that leverage its intranasal drug delivery expertise, with the overarching goal of enhancing patient outcomes. The newly acquired pipeline candidates hold promise for delivering groundbreaking treatments to millions affected by mild traumatic brain injury (mTBI) and NPC, thus positioning Oragenics in a market poised to reach an annual valuation of $8.9 billion by 2027.

  • Here is why Oragenics Inc. (OGEN) stock performed well on Tuesday?

    Oragenics Inc. (OGEN) shares declined 5.57% in after-hours on Tuesday, July 27, 2021, and closed the Tuesday trading at $0.79 per share. In the regular trading session of Tuesday, OGEN’s stock gained 34.14%. OGEN shares have fallen 28.92% over the last 12 months, and they have moved up 35.88% in the past week. Over the past three months, the stock has gained 3.56%, while over the past six months, it has reduced 20.11%. The company has a current market of $99.95 million and its outstanding shares stood at 115.64 million.

    Let’s see what are the latest news about OGEN?

    OGEN Licensing Agreement with the National Research Council of Canada

    On July 27, 2021, Oragenics, Inc (OGEN) entered into a licensing agreement with the National Research Council of Canada (NRC) that will enable Oragenics to pursue the rapid development of next-generation vaccines against the SARS-CoV-2 virus and its variants.

    The NRC technologies, in combination with the U.S. National Institutes of Health (NIH) elements found in the Company’s Terra CoV-2 vaccine, provide Oragenics with a platform that can generate cell lines for high-yield production of spike protein antigens for existing and emerging variants of concern in a very short span of time.

    OGEN adjourned the annual meeting of shareholders

    Oragenics, Inc. (OGEN) annual meeting of shareholders, on June 30, 2021, at 9:00 a.m. was convened and adjourned, without any business being conducted, due to lack of the required quorum.

    OGEN Letter to Shareholders

    On May 18, 2021, the executive Chairman of Oragenics Inc, Frederick W. Telling, Ph.D. issued a letter to the company’s shareholders.

    He said that the company is working quickly to develop the Terra CoV-2 vaccine candidate to address SARS-CoV-2 and its variants, as well as a new class of antibiotics to address the daunting problem of antibiotic resistance.

    OCGN Overhaul in Management and Board of Directors

    On May 2, 2021, Dr. Alan Joslyn resigned as Chief Executive Officer, President, and director of Oragenics, Inc (OGEN).

    Mr. Sullivan, the OGEN current Chief Financial Officer, will serve as the Company’s interim principal executive officer to address the vacancy created by Dr. Joslyn’s resignation.

    Also, Dr. Frederick Telling transitioned from Chairman of the Board to the newly established position of Executive Chairman, effective immediately, during the interim period before a new CEO is hired.

    OGEN CoV-2 S-2P demonstrated protective immunity in mice

    In February 2021, Oragenics, Inc released the data from the National Institutes of Health (NIH) that confirmed the stabilized prefusion spike protein CoV-2 S-2P induced protective immunity in mice challenged with mouse-adapted SARS-CoV-2 virus.

    OGEN Material transfer agreement with Biodextris 

    On March 9, 2021, Oragenics (OGEN) entered into a material transfer agreement with Biodextris Inc. for the use of three intranasal mucosal adjuvants in the Company’s Terra CoV-2 vaccine against COVID-19.

    Conclusion

    OGEN stock surged on Tuesday after it announced a recent agreement with the National Research Council of Canada. There was no reason behind its loss in the after-hours and we expect it to return towards positivity on  Wednesday.