Oragenics Inc (NYSEAMERICAN: OGEN) is having a pretty strong start to the trading session this morning. However, if you’re digging for news from the company, you won’t find any. The company hasn’t issued any press releases or filed anything with the SEC. Nonetheless, we believe that we’ve found the reason for the gains. Today, we’ll talk about:
- Why OGEN is up;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Here’s Why OGEN Is Up
As mentioned above, Oragenics is having an incredibly strong start to the trading session this morning, but the company hasn’t released any news. So, what’s the deal?
The gains seem to be associated with a report published by Traders News Source. Traders News Source is an independent equity research and corporate access firm that focuses on small and mid-cap companies. Today, the company announced that it released a report on OGEN.
In the announcement, Traders News Source pointed to the company’s AG013 candidate as a reason to be excited. The candidate has been granted Fast Track Designation by the FDA here in the United States and has achieved Orphan Drug Status in Europe. The treatment was originally developed by Intrexon.
Nonetheless, OGEN has established two exlusive worldwide collaborations with Intrexon. Tehse collaborations give the company access to proprietary technologies in an effort to accelerate the development of this much needed new antibiotic. The antibiotic has been designed to work against antibiotic-resistant strains of bacteria.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Oragenics, while the company didn’t release any news of its own, it was featured in a publication that’s leading to quite a bit of excitement. So, it’s not surprising to see that investors are sending the stock up in the market today. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:21), OGEN is trading at $1.42 per share after a gain of $0.07 per share or 5.19% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on OGEN. In particular, we’re interested in following the continued development of AG013 as the asset makes its way into Phase 2 clinical trials. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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