Why Oragenics (OGEN) Stock Is Getting Hammered
Portfolio Pulse from Henry Khederian
Oragenics Inc (NASDAQ:OGEN) shares plummeted by 45.5% to $0.58 after announcing a $4.45 million public offering of 8,106,584 shares at $0.55 per share. The offering aims to fund the development of ONP-002 and general corporate purposes. The stock has lost 82.44% year to date.
September 04, 2024 | 4:22 pm
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NEGATIVE IMPACT
Oragenics Inc's stock fell 45.5% following the announcement of a $4.45 million public offering at $0.55 per share. The funds will support ONP-002 development and general corporate purposes.
The significant drop in OGEN's stock price is directly linked to the public offering announcement, which often dilutes existing shares and can lead to a decrease in stock value. The offering price is below the current trading price, further pressuring the stock downward.
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