Oragenics Inc (NASDAQ:OGEN) shares are trading lower by 21% to $1.03 during Tuesday's session after the company announced a proposed public offering.
The company earlier Tuesday announced a placement agency agreement to sell 1.1 million shares of its common stock at $1.00 per share, expecting to close around June 26.
The offering should generate approximately $1.1 million in gross proceeds. The funds will support the development of their ONP-002 product and general corporate purposes.
Should I Sell My OGEN Stock?
When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Oragenics have decreased by 60.81% in the past year. An investor who bought shares of Oragenics at the beginning of the year would take a loss of $5.48 per share if they sold it today. The stock has fallen 38.44% over the past month, meaning an investor who bought shares on May. 1 would see a capital gain of $0.25.
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OGEN has a 52-week high of $7.74 and a 52-week low of $1.00.