Home Equities Score Oragenics, Inc. (OGEN) Stock Undergoes Volatility Following Changes in Management and Board...

Oragenics, Inc. (OGEN) Stock Undergoes Volatility Following Changes in Management and Board of Directors

Oragenics, Inc. (OGEN) stock prices were up by 3.32% as of the market closing on April 14th, 2021, bringing the price per share up to USD$0.6199 at the end of the trading day. Subsequent pre-market fluctuations have seen the stock jump by 1.64%, bringing it up to USD$0.62.

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Net Loss Reports

March 3rd, 2021 saw OGEN announce its financial results for the year ended December 31st, 2020, with the company failing to report any revenue for the year, as expected. Net loss for the fiscal year 2020 was reported at USD$26.4 million, which represents a net loss of USD$0.47 per share. This is up from the USD$15.6 reported in net loss for the fiscal year 2019, which represented USD$0.37 net loss per share.

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Rising R&D Costs

Research and Development costs were USD$22.1 million in 2020, a significant increase from the USD$12.1 million reported for the prior-year period. This increase is largely attributable to OGEN’s acquisition of Noachis Terra, Inc., as well as increases in stock-based compensation and salaries. The increase was partially offset by decreases in clinical costs associated with the clinical trial work being conducted for the development of AG013.

G&A Expenses Increasing

General and Administrative expenses were reported to be USD$4.5 million for the fiscal year 2020, up from the USD$3.8 reported in 2019. This increase is largely attributable to the increase in employee and non-employee stock-based compensation. Also contributing to the increased G&A costs were insurance and legal costs that arose over the course of the 2020 year.

Strong Liquidity Position

OGEN reported USD$17.6 million in cash and cash equivalents as of December 31st, 2020, indicating a promising liquidity position for a company that does not generate revenue. February of 2020 had seen OGEN generate nearly USD$20 million from sales through its At-the-Market facility, along with almost USD$1.9 million from the exercise of stock warrants.

Capital Generation

With the company having redeemed its Series C Preferred Stock on March 15th, 2021 (including accrued and unpaid dividends), OGEN expects to be sufficiently funded for its operations through to the second quarter of the fiscal year 2022. As of February 25th, 2021, the company reported having approximately 109.6 million shares outstanding. When factoring in stock options and warrants, OGEN reported a fully diluted share count of almost 135.8 million shares.

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Future Outlook for OGEN

Equipped with a promising liquidity position, current, and potential investors will be buoyed by the news of OGEN’s pipeline development and financials from a pandemic-stricken fiscal 2020. The company hopes to capitalize on its Covid-19 treatment options and see them through to commercialization, thus ensuring significant and sustained growth over the upcoming quarters.

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