Oragenics, Inc. Announces Expiration of Its Investment Banking Engagement Agreement
February 07 2024 - 8:00AM
Business Wire
Oragenics, Inc. (NYSE American: OGEN), a company focused on
developing unique, intranasal nanoparticle pharmaceuticals for the
treatment of neurological disorders, today announced that its
engagement agreement with its investment bank has expired and that
it does not intend to extend the engagement at this time due to
market conditions.
About ONP-002
ONP-002 is a fully synthetic neurosteroid being developed to
treat mTBI. In preclinical studies, the drug demonstrated
equivalent or better neuroprotective effects compared with related
neurosteroids. Animal models of concussion showed the drug reduces
the behavioral pathology associated with brain injury symptoms such
as memory impairment, anxiety and motor/sensory performance.
Additionally, ONP-002 is lipophilic and can cross the blood-brain
barrier to rapidly eliminate swelling, oxidative stress and
inflammation while restoring proper blood flow.
About Mild Traumatic Brain Injury (mTBI)
Concussions are an unmet medical need that affects millions
worldwide. Repetitive concussions can increase the risk of
developing chronic traumatic encephalopathy and other
neuropsychiatric disorders. It is estimated that 5 million
concussions occur in the U.S. annually and that up to 50% go
unreported. The worldwide incidence is estimated at 69 million per
year. The global market for concussion treatment was valued at $6.9
billion in 2020 and is forecast to reach $8.9 billion by 2027,
according to Grandview Research. Common settings for concussion
include contact sports, military training and operations, motor
vehicle accidents, children at play and elderly assistive-living
facilities due to falls.
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version on businesswire.com: https://www.businesswire.com/news/home/20240207458097/en/
Oragenics, Inc. Janet Huffman, Chief Financial Officer
813-286-7900 jhuffman@oragenics.com
LHA Investor Relations Tirth T. Patel 212-201-6614
tpatel@lhai.com
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