Oragenics Inc. (NYSE:OGEN)
Oragenics, Inc (NYSE MKT: OGEN) and Intrexon Corporation (XON) a leader in synthetic biology, announced today positive data on multiple compounds from Oragenics’ Mutacin 1140 (“MU1140”) lantibiotic platform in a critical animal model study, as well as the selection of a lead clinical candidate. Business Wire
Oragenics Chairman’s Comments
Frederick Telling, Ph.D., Chairman of the Board of Oragenics said, “These test results represent a significant development and we are delighted to share this progress as we continue our efforts to develop lantibiotics, a new therapeutic class of antibiotics, with our collaborator Intrexon to combat the growing problem of resistance to existing therapeutics.” Dr. Telling added, “We remain on-track for our previously disclosed expectation of pre-IND meetings with the U.S. Food and Drug Administration in the fourth quarter. This in vivo efficacy data represents a significant step forward in the development path undertaken by Oragenics.” Business Wire
Technical Analysis
OGEN gapped up today in pre market trading to $2.25 up from yesterday’s close of $1.74 which is a 29% increase on positive news. Taking a look at the daily chart we can see this price level was only reached once in the past year back on June 15 when it reached its 52 week high of $2.64 based on news that it was pursuing development of biotherapeutics for oral mucositis and other diseases and conditions of the oral cavity, throat, and esophagus and is among the most frequent reports of adverse effects related to cancer therapy that affect 500,000 patients annually. The stock soared from $.75 on June 5 to the highs on June 15 and after that gave back some of the profits and was trading at $1.29 on June 26. So the stock has been very active in the past 2 months. The stock has a low float of 6.32 million shares so it can move very fast off the opening bell and is a prime stock candidate for the gap and go strategy as it has shown the ability to do it in the recent past. I would look to go long at the bell and see if the stock can test the $2.64 52 week high level. Look to quickly book profits as the stock did pullback last time it reached these levels.
Company Profile
Oragenics, Inc. develops, markets, and sells oral probiotics products and antibiotics for humans and companion pets. The company develops and markets probiotic products comprising ProBiora3, ProBiora3, a blend of oral care probiotics that promote fresher breath, whiter teeth, and support oral health under the Evora and ProBiora brands. Its ProBiora3 products include flavored probiotic tablets, such as EvoraPlus and EvoraKids for daily use by adults and children; EvoraPet for companion pets, including cats and dogs; and EvoraPro, a product for the dental office channel. The companys products also comprise LPT3-04, a naturally occurring dietary substance for weight loss; SMaRT Replacement Therapy, a topical treatment applied to the teeth to protect against tooth decay; and MU1140 and other homolog antibiotic products. The company markets and sells its products through direct-to-consumer channels, professional offices, and private label partnerships. It has collaboration agreement with Intrexon Corporation for the development and commercialization of the native strain of MU1140 and related homologs. The company, formerly known as Oragen, Inc., was founded in 1996 and is headquartered in Tampa, Florida. Yahoo Finance
