Nano cap Oragenics (NYSEMKT:OGEN) reports that the U.S. Health and Human Services' Biomedical Advanced Research and Development Authority (BARDA) has decided to pass on funding the development of COVID-19 vaccine candidate Terra CoV-2.
The company says its will "continue to pursue" other sources if non-dilutive funding, grants and corporate partnerships, but an equity capital raise remains an option to advance development.
It acquired a non-exclusive license to NIH's stabilized pre-fusion Terra CoV-2 spike protein in March.
Shares are currently suspended from trading.
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