Benzinga | Mar 9, 2021 12:10PM EST

Oragenics' COVID-19 Related Deal Pushes The Stock Higher

Oragenics Inc (NYSE: OGEN) stock is soaring higher after announcing a deal related to its Terra CoV-2 vaccine candidate against COVID-19.

* Oragenics has reached an agreement with Biodextris that will allow it to use Biodextris' BDX100, BDX300, and BDX301 proteosome-based adjuvants in the Terra CoV-2 vaccine.

* Adjuvants are added to vaccines to enhance their immunogenicity. BDX100, BDX300, and BDX301 are proteosome-based adjuvants comprised of proteins and lipopolysaccharides with the benefits of intranasal vaccine administration.

* Oragenics plans to start with animal testing of the vaccine in combination with the adjuvants.

* The deal between Oragenics and Biodextris also allows for a potential expansion in the future. That includes use in a commercial vaccine if Terra CoV-2 gets approval from the FDA.

* Price Action: OGEN shares increased 38.5% at $1.17 in market trading hours on the last check Tuesday.