|9 Months Ended|
Sep. 30, 2023
|Organization, Consolidation and Presentation of Financial Statements [Abstract]|
Oragenics, Inc. (the “Company” or “we”, or “our”) is focused on the development of intranasal drug delivery platforms dedicated to fighting infectious diseases. Our lead product is an intranasal vaccine candidate (NT-CoV2-1) to combat the novel Severe Acute Respiratory Syndrome coronavirus (“SARS-CoV-2”).
On October 4, 2023 we announced the signing of a definitive agreement with Odyssey Health, Inc. to acquire certain proprietary assets related to neurological drug therapies including their proprietary formulation and nasal delivery system. The assets include drug candidates for treating mild traumatic brain injury, also known as concussion, and for treating Niemann Pick Disease Type C. The transaction is expected to close at the end of the fourth quarter of 2023, subject to the satisfaction of various closing conditions, of which there can be no assurances.
We have made several changes to reduce expenses and conserve cash resources to prioritize our vaccine product’s research and development until additional capital can be obtained. Recently, in September of 2023, we terminated our lease for the building where some of our research and development activities for its lantibiotic program were undertaken. Currently research and development activities related to the lantibiotic program are inactive. We intend to evaluate alternative opportunities for this program moving forward as we continue to strengthen our focus and expertise on our intranasal drug delivery platform and drug candidates.
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef