Oragenics Inc. Common Stock (OGEN)

FairStock Score: 68/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Graham-and-Buffett style investor, I start with business quality, and Oragenics is not a business in the traditional sense. It is a development-stage biotech with three employees, no recent revenue, and a lead asset, ONP-002, aimed at mild traumatic brain injury; any moat is speculative until trials and regulatory progress create one. The filed numbers are sobering: in fiscal 2023, the year ended 2023-12-31, net income was -$20.7M; in fiscal 2024, the year ended 2024-12-31, it was -$10.6M; in fiscal 2025, the year ended 2025-12-31, it was -$9.8M. In fiscal Q1 2026, the quarter ended 2026-03-31, net income was -$2.2M, and in fiscal Q2 2026, the quarter ended 2026-06-30, it was -$2.5M. Trailing free cash flow is -$9.3M, a FairStock FCF yield of -517.2% at the $0.40 close on 2026-10-26, against a $1.8M market cap. The low D/E of 0.03 is a genuine plus, but ROE of -1307.06%, ROCE of -171.49%, a Piotroski F-Score of 2/9, and an Altman Z-Score of -40.91 show severe financial stress. FairStock's P/B of 0.49 and Graham Number of $5.58 give a 92.47% margin of safety on paper, and the price sits at the low end of its 52-week $0.40-$1.34 range. But Graham would not call this cheap without earning power; the Lynch category is none because it lost money in each of the last four years. This is a speculative option on ONP-002, not a proven value compounder; growth depends on financing and clinical milestones.

In plain English: Oragenics is a tiny drug-development company with three employees, working on a nasal treatment for brain injury and infections but with no product for sale yet. The business looks weak: it has lost money in each of the last four years, has no recent revenue, and used about $9.3 million in cash over the last year. At $0.40 a share it looks very cheap on basic accounting measures, but a money-losing drug developer can look cheap for good reasons.

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Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer