Oragenics Targets Projected $9 Billion Market by Advancing First and Only Clinical-Stage Concussion and Mild Traumatic Brain Injury Therapy

Outlines clinical and growth catalysts for ONP-002 in concussion and mild traumatic brain injury (mTBI)

Fully prepared to initiate near-term clinical site onboarding and first patient dosing in Australia

Sarasota, Fla., Feb. 09, 2026 — Oragenics, Inc. (NYSE American: OGEN) (“the “Company”) a clinical-stage biotechnology company developing brain-targeted therapeutics through proprietary intranasal delivery technology, today previewed its targeted milestones for 2026. Oragenics is advancing its lead candidate ONP-002, a novel intranasal neurosteroid, through clinical studies as the potential first and only pharmacological treatment for concussion and mild traumatic brain injury (mTBI).

Oragenics’ CEO Janet Huffman commented, “Through successful operational, regulatory and financial execution over the past year, we achieved key strategic milestones that secured the clinical infrastructure required to enter a Phase 2 clinical trial of ONP-002 in Australia this year. We have demonstrated financial discipline and transparency in support of our clinical development program, and the Company is now well-positioned to advance ONP-002 toward meaningful value-creating milestones.

“We remain deeply committed to delivering a much-needed therapeutic solution for patients suffering from concussion and mTBI. Based on positive pre-clinical and Phase 1 clinical safety and efficacy data with no competition in the clinic to date, ONP-002, if approved, shows potential to become the first commercial treatment for a projected $9 billion global concussion market.”

Novel Drug for Large Addressable Markets

ONP-002’s unique nasal delivery system is designed to rapidly deliver medication to the brain directly and efficiently. Concussions require rapid intervention to reduce inflammation, oxidative stress, and neuronal damage, making intranasal delivery particularly well suited for fast-acting neuroprotective treatment of concussion and mTBI.

Concussion/mTBI ranks as the most prominent neurological condition without an FDA-approved therapeutic. In fact, traumatic brain injuries affect more Americans each year than stroke, Alzheimer’s disease, Parkinson’s disease, multiple sclerosis, and ALS combined, based on aggregated U.S. incidence estimates.

According to the Centers for Disease Control and Protection (CDC), an estimated 1.7 to 3.8 million people in the U.S. experience traumatic brain injuries annually, with sports and recreational injuries being leading causes.1 The global concussion market is projected to reach over $9 billion by 2030.2 As an intranasal drug, ONP-002, if approved, would join a nasal drug delivery market expected to reach nearly $93 billion by 2030.3

Well-Positioned to Advance ONP-002 Development

Regulatory & Clinical Achievements

• All preparations completed to proceed with clinical site onboarding at selected trial locations in Australia.
• Selected Southern Star Research as the clinical research organization (CRO) for the Phase 2a trial.
• Moved drug manufacturing out of China and to the United States, contracting Sterling Pharma Solutions for FDA cGMP (Current Good Manufacturing Practice) manufacturing in Cary, North Carolina.
• Formed a strategic collaboration with Receptor.AI, a proprietary artificial intelligence-driven drug discovery platform that identifies optimal receptor binding profiles for therapeutic effect. The technology may support future expansion of the Company's molecule portfolio beyond ONP-002.

Financial Strength

• $16.5 million raised in a public offering of Series H convertible preferred stock and warrants last year supports ongoing clinical development and operations.
• Clean balance sheet with zero debt.
• Fully funded Phase 2a trial gives the Company ample runway to prepare for future trials.

2026 Value-Driving Catalysts and Milestones

• Near-term Phase 2a clinical site onboarding and first patient dosing.
• Interim Phase 2a data in throughout 2026; final readout expected in Q4 2026.
• Submission of an FDA IND (Investigational New Drug) application for U.S. trials.
• Ongoing strategic partnership development.

Oragenics has submitted the required regulatory and ethics approvals to proceed with its Phase 2 clinical trial. However, its planned site activation is sequenced around a broad-scale health-system consolidation in Australia that will merge five hospitals in Victoria to form Bayside Health.

Huffman noted, “As a result of the hospital consolidations in Australia, the merged entity is likely to prioritize certain internal organizational and governance steps in the near term. This process has delayed final verification of our HREC approval for the Phase 2a trial, extending our clinical site onboarding and patient dosing several months beyond our prior target.”

Oragenics’ approved Phase 2a clinical trial is a randomized, placebo-controlled study designed to evaluate 40 patients that meet enrollment criteria based on CT scans, presenting systems and emergency room or hospital admission. Patients will receive first dosing within 12 hours of concussion followed by continued treatment and evaluation for up to 30 days. The trial will assess safety and tolerability parameters through follow-up visits for nasal examinations, other physical checks and neurocognitive testing. Feasibility will be determined according to tolerability and participant compliance.

About ONP-002

ONP-002 is an investigational neuroprotective, anti-inflammatory intranasal drug candidate targeting mild traumatic brain injury (mTBI) or concussion. Designed to interrupt biological pathways involved in inflammation, oxidative stress, and swelling following head trauma, ONP-002 has demonstrated safety and tolerability in Phase I clinical trials. The drug candidate utilizes Oragenics' proprietary intranasal delivery platform to enable rapid brain delivery, potentially representing a paradigm shift from symptom management to active neurological intervention. Oragenics is prepared to initiate a Phase 2a clinical trial of ONP-002 in Australia this year, with U.S. clinical trials planned to follow pending FDA investigational new drug application (IND) approval.

About Oragenics, Inc.

Oragenics, Inc. is a clinical-stage biotechnology company developing brain-targeted therapeutics through proprietary intranasal delivery technology. The Company's lead candidate, ONP-002, is being advanced as a potential first-in-class treatment for concussion and mild traumatic brain injury. Oragenics is progressing ONP-002 through Phase 2a clinical trials in Australia, with U.S. Phase IIb trials planned to follow. The Company's intranasal delivery platform has potential applications across multiple neurological conditions, including Parkinson's disease, Alzheimer's disease, PTSD, and anxiety disorders. Oragenics is committed to developing innovative therapies that address significant unmet medical needs in neurological care. For more information, visit www.Oragenics.com.

Investor Contact

800-383-4880 [email protected]

1 American Association of Neurological Surgeons; Sports Related Head Injury 2 Grand Market Research; Concussion Market (2025 - 2030) 3 Research and Markets; $92.91 Bn Nasal Drug Delivery Market Trends, Opportunities, and Forecasts, 2020-2024 & 2025-2030F