Detailed financial statements for Oragenics, Inc. (OGEN): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Oragenics, Inc. (OGEN) is a U.S.-based biotechnology firm primarily focused on creating treatments for infectious diseases. Among its pipeline assets are two vaccine candidates designed to combat the novel severe acute respiratory syndrome coronavirus (SARS-CoV-2): NT-CoV2-1, an intranasal formulation, and Terra CoV-2, an intramuscular option.
Analysis Summary
Trailing-twelve-month margins: gross margin 0.0%, operating margin 0.0%, net margin 0.0%.
At the current price of $0.50, OGEN has negative trailing earnings (P/E not meaningful) and an ROE of -144.23%. Market capitalisation stands at $2M.
Balance sheet quality for OGEN: current ratio of 5.6, net cash position of $8.2M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | $75044 | $65803 | $30110 | $62622 | $22.1M | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | -$75044 | -$65803 | -$30110 | -$62622 | -$22.1M | 0 | 0 | 0 | 0 | 0 |
| Research & Development | $4.8M | $3.5M | $6.0M | $12.1M | $22.1M | $10.6M | $10.1M | $15.5M | $4.1M | $2.39B |
| Selling, General & Admin | $3.8M | $3.2M | $4.0M | $3.8M | $4.5M | $5.3M | $4.5M | $5.5M | $6.4M | $6.97B |
| Operating Expenses | $8.5M | $6.7M | $10.0M | $15.9M | $4.5M | $15.8M | $14.4M | $20.9M | $10.6M | $9.4M |
| Operating Income | -$8.5M | -$6.7M | -$10.0M | -$15.9M | -$26.6M | -$15.8M | -$14.4M | -$20.9M | -$10.6M | -$9.4M |
| EBITDA | -$8.4M | -$6.4M | -$9.9M | -$15.5M | -$26.6M | -$15.7M | -$14.2M | -$20.6M | -$10.5M | $762.2M |
| Interest Expense | $4116 | $216328 | $5786 | $7300 | $10685 | $15756 | $15103 | $30591 | $29828 | $785930 |
| Pre-tax Income | -$8.5M | -$6.7M | -$9.9M | -$15.6M | -$26.4M | -$15.7M | -$14.3M | -$20.7M | -$10.6M | -$10.0M |
| Income Tax | 0 | $13207 | -$79999 | $7756 | 0 | 0 | 0 | 0 | 0 | -$136910 |
| Net Income | -$7.0M | -$6.7M | -$9.9M | -$15.6M | -$26.4M | -$15.7M | -$14.3M | -$20.7M | -$10.6M | -$9.8M |
| EPS | $-94.35 | $-81.99 | $-45.62 | $-22.10 | $-28.05 | $-8.09 | $-7.11 | $-9.18 | $-1.60 | $-4.56 |
| EPS (Diluted) | $-94.33 | $-81.99 | $-45.62 | $-22.10 | $-28.05 | $-8.09 | $-7.11 | $-9.18 | $-1.60 | $-4.56 |
| Shares Outstanding (Diluted) | $74348 | $82104 | $217318 | $704732 | $942187 | $1.9M | $2.0M | $2.2M | $6.6M | $2.2M |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.1M | $6.2M | $20.2M | $18.3M | $17.6M | $27.3M | $11.4M | $3.5M | $864840 | $4.4M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $4.0M |
| Receivables | 0 | 0 | 0 | 0 | 0 | $6987 | 0 | 0 | 0 | $53082 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $4.2M | $7.2M | $21.9M | $18.8M | $18.0M | $27.7M | $14.3M | $3.9M | $1.5M | $10.1M |
| Property, Plant & Equipment | $87462 | $21659 | $116276 | $914652 | $697851 | $523590 | $468502 | $9811 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | $4.3M | $7.2M | $22.0M | $19.8M | $18.7M | $28.2M | $14.8M | $5.0M | $1.5M | $10.1M |
| Accounts Payable | $461344 | $618360 | $828706 | $1.2M | $330379 | $854983 | $246690 | $1.2M | $1.1M | $1.6M |
| Short-term Debt | $66377 | $80478 | $124213 | $143864 | $228227 | $303416 | $267640 | $312703 | $328528 | $227348 |
| Total Current Liabilities | $1.3M | $898522 | $1.2M | $1.9M | $1.3M | $1.4M | $1.6M | $1.8M | $1.7M | $1.8M |
| Long-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | $1.3M | $898522 | $1.2M | $2.5M | $1.8M | $1.7M | $1.7M | $1.8M | $1.7M | $1.8M |
| Retained Earnings | -$94.7M | -$101.4M | -$111.4M | -$127.4M | -$154.4M | -$171.3M | -$185.6M | -$206.2M | -$216.8M | -$226.6M |
| Total Equity | $3.0M | $6.3M | $20.9M | $17.2M | $16.8M | $26.5M | $13.0M | $3.2M | -$211885 | $8.3M |
| Total Debt | $66377 | $80478 | $124213 | $979650 | $898917 | $797206 | $624526 | $322514 | $328528 | $227348 |
| Net Debt | -$4.0M | -$6.1M | -$20.1M | -$17.3M | -$16.7M | -$26.5M | -$10.8M | -$3.2M | -$536312 | -$8.2M |
| Working Capital | $2.9M | $6.3M | $20.8M | $17.0M | $16.6M | $26.3M | $12.7M | $2.1M | -$211885 | $8.3M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | -$7.0M | -$6.7M | -$9.9M | -$15.6M | -$26.4M | -$15.7M | -$14.3M | -$20.7M | -$10.6M | -$9.84B |
| Depreciation & Amortization | $75044 | $65803 | $30110 | $62622 | $51705 | $41237 | $44667 | $27391 | 0 | $771.4M |
| Stock-based Compensation | $638418 | $560478 | $1.0M | $552997 | $1.5M | $1.7M | $742203 | $1.0M | $516049 | $642.4M |
| Change in Working Capital | $675375 | -$188119 | -$228144 | $1.9M | $37019 | $512143 | -$1.7M | $2.0M | $1.5M | -$857224 |
| Operating Cash Flow | -$7.1M | -$6.4M | -$9.1M | -$13.0M | -$17.0M | -$13.5M | -$15.2M | -$7.3M | -$8.6M | -$9.25B |
| Capital Expenditure | -$27179 | 0 | -$124727 | -$25214 | 0 | -$43876 | -$127519 | -$1.0M | 0 | -$3 |
| Acquisitions | $1.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | -$5.6M | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | -$58670 | 0 | 0 | -$1.1M | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$7.1M | -$6.4M | -$9.2M | -$13.0M | -$17.0M | -$13.5M | -$15.4M | -$8.3M | -$8.6M | -$9.25B |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income Growth (YoY) | +4.0% | -47.3% | -57.1% | -69.7% | +40.6% | +9.1% | -44.6% | +48.8% | +6.9% | |
| EPS Growth (YoY) | +13.1% | +44.4% | +51.6% | -26.9% | +71.2% | +12.1% | -29.1% | +82.6% | -185.0% | |
| Shares Change (YoY) | +10.4% | +164.7% | +224.3% | +33.7% | +99.7% | +6.7% | +12.0% | +194.3% | -67.4% | |
| FCF Growth (YoY) | +10.4% | -44.6% | -41.6% | -30.0% | +20.3% | -13.6% | +46.0% | -3.7% | -107448.9% | |
| Effective Tax Rate | -0.0% | -0.2% | 0.8% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | 1.4% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $-95.53 | $-77.51 | $-42.36 | $-18.50 | $-17.99 | $-7.18 | $-7.64 | $-3.68 | $-1.30 | $-4286.54 |
| Dividends Per Share | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.59 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $74333 | $82104 | $217318 | $704732 | $942187 | $1.9M | $2.0M | $2.2M | $6.6M | $2.2M |
What to look at in Biotech
Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.
- Cash Runway — Months of cash at current burn rate. <18 months = urgent dilution risk
- Annual cash burn — Rate at which they burn operating cash. Compare with cash position to project runway
- Total Debt — Biotech with no revenue + debt = recipe for bankruptcy
- R&D / Market cap — How much they invest in pipeline vs the company value — research-intensity indicator
- Market cap / Cash — If it trades near its cash, the market assigns ~0 value to the pipeline — opportunity or trap
Profitability
| Return on Equity | -144.23% |
| Return on Invested Capital | -279.54% |
| Return on Assets | -183.59% |
| Gross Margin | 0.00% |
| Operating Margin | 0.00% |
| Net Margin | 0.00% |
Financial Health
| Debt / Equity | 0.00 |
| Current Ratio | 3.01 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -103.02 | -51.57 | -33.89 | -42.60 | -28.81 | -99.23 | -26.61 | -18.40 | -6.92 | -0.17 |
| P/B | 243.62 | 54.96 | 16.09 | 38.50 | 45.21 | 57.04 | 29.21 | 119.95 | -346.28 | 0.20 |
| P/S | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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Explore sector: Healthcare · Biotechnology
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