Why Oragenics (OGEN) Shares Are Falling
Portfolio Pulse from Henry Khederian
Oragenics Inc (NASDAQ:OGEN) shares fell by 21% to $1.03 after the company announced a proposed public offering of 1.1 million shares at $1.00 per share, expected to close around June 26. The offering aims to generate approximately $1.1 million to support the development of their ONP-002 product and general corporate purposes.
June 25, 2024 | 1:26 pm
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Oragenics Inc shares fell by 21% to $1.03 after announcing a public offering of 1.1 million shares at $1.00 per share. The offering is expected to close around June 26 and aims to generate approximately $1.1 million to support the development of their ONP-002 product and general corporate purposes.
The announcement of a public offering typically dilutes existing shares, leading to a drop in stock price. The 21% decline reflects investor concerns about dilution and the company's financial health.
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IMPORTANCE 80
RELEVANCE 100