Oragenics, Inc. (the "Company") (NYSE:OGEN), a company focused on developing unique, intranasal pharmaceuticals for the treatment of neurological disorders, today announced that it has filed its annual report on March 29, 2024. The Company is pleased to report it has executed on its strategy to diversify its product development portfolio and makes progress in transforming the Company to create long term value. Some key items that have helped to improve the Company moving forward are:
- The Company acquired a platform technology intended to treat multiple neurological disorders. The first target indication is for concussion and the technology has successfully completed a Phase I trial.
- Raised approximately $ 2.1 million in a public offering and $890,000 in a private transaction.
- Hired a Chief Medical Officer: Dr James Kelly MD, is a thought leader in brain injury including concussion.
- Added two new Board members: John Gandolfo and Bruce Cassidy.
- Created a subsidiary in Australia to take advantage of R&D rebates offered by the Australian government.
- Contracted with a leading Contract Research Organization to oversee our Phase II clinical trial.
- Manufacturing drug in preparation for our Phase II trial.
We are excited about the progress the Company has made in the past several months. We are creating a team with the experience and drive to further our neurological drug candidates through clinical trials during 2024," commented Michael Redmond, President of Oragenics.
As previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2023, which was filed on March 29, 2024 with the Securities and Exchange Commission, the audited consolidated financial statements contained an unqualified audit opinion from its independent registered public accounting firm that included an explanatory paragraph related to the Company's ability to continue as a going concern. See further discussion in footnote 1 of the Company's consolidated financial statements included in the Company's Annual Report on Form 10-K.