Oragenics, Inc. Continues to Explore Strategic Alternatives to Fund Continuing Operations
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ORNI | Quote | Chart | News | PowerRating -- The Florida-based biotechnology firm Oragenics (OTCBB:ORNI) (NYSE
Alternext Paris:ALONI) announces that it continues to seek strategic
alternatives to fund its continuing operations. These alternatives
include, but are not limited to, raising capital through the sale of
equity, the sale of specific business units, and the sale of the entire
Company. If our efforts are unsuccessful, we may be forced to
discontinue operations and liquidate the Company's assets.
David Hirsch, the Company's Acting CEO and CFO stated, "Our current
financial condition coupled with the difficult economic climate has left
us with a limited number of options to adequately fund the Company such
that we can continue operations. While we remain optimistic that we will
find an alternative that will allow us to continue to operate as a going
concern, there can be no assurance that we will be able to do so."
About Oragenics
Oragenics, Inc. is a biopharmaceutical company engaged in developing
unique proprietary technologies, some of which are being commercialized
and sold in the over-the-counter consumer healthcare market. The company
also has a number of products in discovery, preclinical and clinical
development, with a concentration in the main therapeutic area of
infectious diseases, diagnostics, and oral health. The company is
located in Progress Corporate Park at 13700 Progress Boulevard in
Alachua, Florida, approximately 15 miles from the campus of the
University of Florida in Gainesville.
Safe Harbor Statement: Under the Private Securities Litigation
Reform Act of 1995: This release includes forward-looking statements
that reflect the Company's current views with respect to future events
and financial performance. These forward-looking statements are based on
management's beliefs and assumptions and information currently
available. The words "believe," "expect," "anticipate," "intend,"
"estimate," "project" and similar expressions that do not relate solely
to historical matters identify forward-looking statements. Investors
should be cautious in relying on forward-looking statements because they
are subject to a variety of risks, uncertainties, and other factors that
could cause actual results to differ materially from those expressed in
any such forward-looking statements. These factors include, but are not
limited to those set forth in our most recently filed annual report on
Form 10-KSB and quarterly report on Form 10-Q, and other factors
detailed from time to time in filings with the Securities and Exchange
Commission. We expressly disclaim any responsibility to update
forward-looking statements.
SOURCE: Oragenics, Inc.
Oragenics, Inc.
David Hirsch, Acting CEO, CFO, +1 386 418 4018
dhirsch@oragenics.com
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