Oragenics, Inc. has successfully completed a $20 million public offering to advance its clinical development programs for neurological disorders, with particular focus on concussion treatment trials. The Sarasota-based biotechnology company announced the pricing of up to 800,000 shares of Series H Convertible Preferred Stock at $25 per share, along with accompanying warrants.
The development-stage company specializes in nasal delivery of pharmaceutical medications for neurology applications and infectious disease treatment. Oragenics is currently developing drug candidates for treating mild traumatic brain injury (mTBI), commonly known as concussion, utilizing proprietary powder formulation technology and an intranasal delivery device.
Funding Structure and Terms
The offering includes warrants to purchase up to an additional 800,000 shares of preferred stock at an exercise price of $25 per share. The preferred stock is convertible into common stock at a conversion price of $2.50 per share, providing investors with potential upside participation as the company's clinical programs advance.
Dawson James Securities, Inc. served as the sole placement agent for the offering, which closed on July 2, 2025, following SEC approval of the registration statement filed on June 23, 2025.
Clinical Trial Focus
The company intends to use the net proceeds primarily to fund its ongoing ONP-2 concussion clinical trials and related research and development activities. This represents a significant investment in addressing mild traumatic brain injury, a condition that affects millions of individuals annually and represents a substantial unmet medical need.
The intranasal delivery approach being developed by Oragenics offers potential advantages for treating neurological conditions, as this route of administration can provide direct access to the central nervous system while potentially reducing systemic side effects.
Financial Strategy
Beyond clinical trial funding, Oragenics plans to use a portion of the proceeds to repay a $3 million bridge note, strengthening its balance sheet and reducing debt obligations. The remaining funds will support working capital requirements and other general corporate purposes as the company continues to advance its neurology-focused pipeline.
The successful completion of this offering provides Oragenics with the financial runway necessary to advance its ONP-2 program through critical clinical milestones while maintaining operational flexibility for additional research and development initiatives in the neurological disorders space.
