Oragenics, Inc. Announces 3Q 2018 Financial Results and Provides Corporate Update
Oragenics, Inc. (NYSE American: OGEN), a leader in the development of new antibiotics against infectious diseases and effective
treatments for oral mucositis, announced financial results for the quarter ended September 30, 2018.
As of September 30, 2018, the Company reported $13.8 million in cash, compared to $6.2 million as of December 31, 2017. In
addition, the company has received an additional $9.5 million in cash proceeds as a result of the exercise of 9.5 million warrants.
As of November 13, 2018, the Company had approximately $22.3 million in cash. Total operating expenses, which include research and
development and general and administrative expenses were $2.8 million for the third quarter of 2018, compared to $1.9 million for
the same period during 2017.
“We are pleased with the recent exercise of warrants that provided us with an additional $9.5 million of capital. Our cash on
hand will be used to continue the clinical site expansion of our ongoing Phase 2 clinical trial of our lead compound, AG013, for
the prevention of oral mucositis, as well as the advancement of our novel lantibiotic treatment for Clostridium difficile,
OG716,” commented Alan Joslyn, president and CEO of Oragenics, Inc. “We look forward to advancing both compounds’ development and
to providing updates to our shareholders on those results.”
Further details concerning Oragenics, Inc.’s financial filings can be found by accessing the United States Securities and
Exchange Commission website at
www.sec.gov.
About AG013
AG013, which has been granted Fast Track designation with the U.S. Food and Drug Administration and orphan drug status in
Europe, is an ActoBiotics® therapeutic candidate formulated to deliver the therapeutic molecule Trefoil Factor 1 to the
mucosal tissues in the oral cavity in a convenient oral rinsing solution. Trefoil Factors are a class of peptides involved in the
protection of gastrointestinal tissues against mucosal damage and play an important role in subsequent repair. The compound was
designed by the company’s strategic partner, ActoBio Therapeutics, Inc., a wholly-owned subsidiary of Intrexon Corporation (NYSE:
XON).
About Lantibiotics
Lantibiotics are a class of antibiotic compounds with novel mechanism of action, prized for their ability to overcome
antibiotic-resistant infections. With resistant strains on the rise, particularly healthcare-acquired infections (HAI), the need
for these potent lantibiotic agents is critical. Oragenics is pursuing the commercial-scale production of a lantibiotic for use as
an antimicrobial.
About Oragenics, Inc.
We are focused on becoming a leader in novel antibiotics against infectious disease and on developing effective treatments for
oral mucositis. Oragenics, Inc. has established two exclusive worldwide channel collaborations with Intrexon Corporation and its
subsidiaries. The collaborations allows Oragenics to accelerate the development of much needed new antibiotics that can work
against resistant strains of bacteria and the development of biotherapeutics for oral mucositis and other diseases and conditions
of the oral cavity, throat, and esophagus.
For more information about Oragenics, please visit
www.oragenics.com.
Safe Harbor Statement: Under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking
statements that reflect management’s current views with respect to future events and performance. These forward-looking statements
are based on management’s beliefs and assumptions and information currently available. The words “ believe,” “ expect,” “
anticipate,” “ intend,” “ estimate,” “ project” and similar expressions that do not relate solely to historical matters identify
forward-looking statements. Investors should be cautious in relying on forward-looking statements because they are subject to a
variety of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in any
such forward-looking statements. These factors include, but are not limited to, risks and uncertainties described in our filings
with the U.S. Securities and Exchange Commission. Oragenics assumes no responsibility to update any forward-looking statements
contained in this press release or with respect to the matters described herein.
Oragenics, Inc.
Corporate:
Michael Sullivan, 813-286-7900
Chief Financial Officer
msullivan@oragenics.com
or
Investors:
John Marco
Managing Director
CORE IR
310-819-2948
johnm@coreir.com
Media:
Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com
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