Oragenics, Inc. (OGEN) stock up by 7.38% premarket at $0.5590, last check on Thursday morning. The stock lost 9.48% in the previous trading session to close at $0.5206 with a volume of 6.15 million shares on December 01. The company’s announcement of positive Covid-19 Challenge study results is the driving factor in the stock’s bullishness premarket. Investors seem happy with this new development of OGEN’s SARS-CoV-2 vaccine candidate as the stock is gaining well so far in the premarket.
The OGEN stock has gone down by 1.57% in the past five days and a further 28.54% in the past three months. While in the bigger picture, the stock has gained a value of 15.95% year to date.
Incorporated in 1996, Oragenics, Inc. (OGEN) is a biopharmaceutical company that develops antibiotics for infectious diseases. Currently, the 116.39 million outstanding shares of the company trade at market capital of $66.94 million.
OGEN’s Covid-19 Challenge Study
On December 01, the company announced its Covid-19 Challenge study’s results evaluating its SARS-CoV-2 vaccine candidate. The hamster challenge study was designed to evaluate the vaccine’s immunogenicity and viral load reduction impact. Multiple formulations of the vaccine were tested in the study, including intranasal and intramuscular administration.
As per the data, just after five days of a viral challenge, the vaccine created a strong immune response and reduced the viral load exponentially. Both intranasal and intramuscular administrations of the vaccine showed great results. Based on the intranasal administration’s competitive and functional advantages, OGEN plans to focus on the intranasal delivery route for its Terra CoV-2 vaccine.
In addition, the company expects to file IND for the vaccine with the FDA in the second quarter of 2022.
Financial Highlights
On November 15, Oragenics, Inc. (OGEN) published its financial results for the quarter ended September 30, 2021. As per the Q3 2021, the company incurred a net loss of $4,383,746 against $4,496,560 in the year-ago period. Consequently, the net loss per basic and diluted share was $0.04 in the third quarter of 2021. The net loss per basic and diluted share was $0.08 in the year-ago period.
Furthermore, the research and development expenses for the third quarter of 2021 were $3,547,321 compared to $3,498,361 in Q3 of 2020. In addition, in Q3 of 2021, the general and administrative expenses decreased to $847,134 from $1,010,006 in Q3 2020.
For the nine months ended September 30, 2021, OGEN had cash and cash equivalents of $29,948,892.
