Oragenics slumps on planned equity raise

Oragenics

20/11/2020 12:22

** Oragenics Inc  OGEN.A  shares down >18% to 43 cents
premarket after drug developer launches follow-on
    ** Late Thurs, co announced proposed stock offering
primarily to continue funding pre-clinical development of its
SARS-CoV-2 vaccine, Terra CoV-2; deal size not disclosed
 urn:newsml:reuters.com:*:nBw5yLpca
    ** AGP sole bookrunner for offering
    ** Last month, co said U.S. FDA 'broadly' supports its
COVID-19 vaccine development approach, and expects to file new
drug application by Q1 end, 2021, and commence patient
enrollment in Q2, 2021  urn:newsml:reuters.com:*:nFWN2GW0RM  urn:newsml:reuters.com:*:nBw6nKy9Wa
    ** OGEN has 61 mln shares outstanding and ~50 mln shares of
free float, per Refinitiv data
    ** Stock, essentially flat YTD, had traded to as high as
$2.09 in Jul

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com))