Oragenics (OGEN) 10-Q 13 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	001-32188
Entity Registrant Name	ORAGENICS, INC.
Entity Central Index Key	0001174940
Entity Tax Identification Number	59-3410522
Entity Incorporation, State or Country Code	FL
Entity Address, Address Line One	4902 Eisenhower Blvd.
Entity Address, Address Line Two	Suite 125
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33634
City Area Code	813
Local Phone Number	286-7900
Title of 12(b) Security	Common Stock
Trading Symbol	OGEN
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		116,394,806

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 21,372,463	$ 27,265,703
Other receivables		6,987
Prepaid expenses and other current assets	277,473	434,699
Total current assets	21,649,936	27,707,389
Property and equipment, net	121,845	45,708
Operating lease right-of-use assets	431,961	477,882
Total assets	22,203,742	28,230,979
Current liabilities:
Accounts payable and accrued expenses	1,094,052	947,574
Short-term notes payable	122,175	303,416
Operating lease liabilities	192,535	194,270
Total current liabilities	1,408,762	1,445,260
Long-term liabilities:
Operating lease liabilities	253,928	299,520
Total long-term liabilities	253,928	299,520
Shareholders’ equity:
Preferred stock, no par value; 50,000,000 shares authorized; 9,417,000 Series A shares, 6,600,000 Series B shares, issued and outstanding at March 31, 2022 and December 31, 2021, respectively	2,656,713	2,656,713
Common stock, $0.001 par value; 250,000,000 and 200,000,000 shares authorized at March 31, 2022 and December 31, 2021, respectively, 116,394,806 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	116,395	116,395
Additional paid-in capital	195,077,466	194,987,219
Accumulated deficit	(177,309,522)	(171,274,128)
Total shareholders’ equity	20,541,052	26,486,199
Total liabilities and shareholders’ equity	$ 22,203,742	$ 28,230,979

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Preferred stock, par value	$ 0	$ 0
Preferred stock, shares authorized	50,000,000	50,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	250,000,000	200,000,000
Common stock, shares issued	116,394,806	116,394,806
Common stock, shares outstanding	116,394,806	116,394,806
Series A Preferred Stock [Member]
Preferred stock, shares issued	9,417,000	9,417,000
Preferred stock, shares outstanding	9,417,000	9,417,000
Series B Preferred Stock [Member]
Preferred stock, shares issued	6,600,000	6,600,000
Preferred stock, shares outstanding	6,600,000	6,600,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Grant revenue	$ 15,083
Operating expenses:
Research and development	4,738,062	3,260,904
General and administrative	1,331,549	1,976,576
Total operating expenses	6,069,611	5,237,480
Loss from operations	(6,054,528)	(5,237,480)
Other income (expense):
Interest income	11,906	20,033
Interest expense	(3,246)	(2,568)
Local business tax	(490)	(600)
Miscellaneous income	10,964	670
Total other income, net	19,134	17,535
Loss before income taxes	(6,035,394)	(5,219,945)
Income tax benefit
Net loss	$ (6,035,394)	$ (5,219,945)
Basic and diluted net loss per share	$ (0.05)	$ (0.05)
Shares used to compute basic and diluted net loss per share	116,394,806	102,973,369

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2020	$ 91,767	$ 7,174,854	$ 164,022,957	$ (154,444,983)	$ 16,844,595
Beginning Balance, shares at Dec. 31, 2020	91,766,928	16,017,133.483
Compensation expense relating to option issuances			1,123,761		1,123,761
Net loss				(5,219,945)	(5,219,945)
Series C dividend		$ 1,117,531		(1,117,531)
Series C dividend, shares		33.016
Series C redemption		$ (5,635,672)			(5,635,672)
Series C Redemption, shares		(166.499)
ATM offering - net of expenses	$ 21,399		26,654,993		26,676,392
ATM offering - net of expenses, shares	21,398,765
Issuance of common stock from warrant exercise	$ 2,472		2,258,864		2,261,336
Issuance of common stock from warrant exercise, shares	2,472,573
Ending balance, value at Mar. 31, 2021	$ 115,638	$ 2,656,713	194,060,575	(160,782,459)	36,050,467
Ending Balance, shares at Mar. 31, 2021	115,638,266	16,017,000
Beginning balance, value at Dec. 31, 2021	$ 116,395	$ 2,656,713	194,987,219	(171,274,128)	26,486,199
Beginning Balance, shares at Dec. 31, 2021	116,394,806	16,017,000
Compensation expense relating to option issuances			90,247		90,247
Net loss				(6,035,394)	(6,035,394)
Ending balance, value at Mar. 31, 2022	$ 116,395	$ 2,656,713	$ 195,077,466	$ (177,309,522)	$ 20,541,052
Ending Balance, shares at Mar. 31, 2022	116,394,806	16,017,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (6,035,394)	$ (5,219,945)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	8,468	12,725
Gain on sale of property and equipment	(10,964)
Stock-based compensation expense	90,247	1,123,761
Changes in operating assets and liabilities:
Other receivables	6,987
Prepaid expenses and other current assets	157,226	120,311
Accounts payable and accrued expenses	146,478	(364,281)
Net cash used in operating activities	(5,636,952)	(4,327,429)
Cash flows from investing activities:
Proceeds from sale of property and equipment	12,000
Purchase of property and equipment	(87,047)
Net cash used in investing activities	(75,047)
Cash flows from financing activities:
Payments on short-term notes payable	(181,241)	(113,346)
Redemption of Series C Preferred stock		(5,635,672)
Proceeds from issuance of common stock for warrant exercise		2,261,336
Net proceeds from issuance of common stock		26,676,392
Net cash provided by (used in) financing activities	(181,241)	23,188,710
Net increase (decrease) in cash and cash equivalents	(5,893,240)	18,861,281
Cash and cash equivalents at beginning of period	27,265,703	17,639,575
Cash and cash equivalents at end of period	21,372,463	36,500,856
Supplemental disclosure of cash flow information:
Interest paid	3,246	2,568
Non-cash investing and financing activities:
Stock dividend on Series C Preferred stock		$ 1,117,531

Organization

Organization	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization Oragenics, Inc. (formerly known as Oragen, Inc.) (the “Company” or “we”) was incorporated in November, 1996; however, operating activity did not commence until 1999. We are focused on the development of the NT-CoV2-1 intranasal vaccine candidate to combat the novel Severe Acute Respiratory Syndrome coronavirus (“SARS-CoV-2”) coronavirus pandemic and the further development of effective treatments for novel antibiotics against infectious disease.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	2. Basis of Presentation The accompanying unaudited interim consolidated financial statements as of March 31, 2022 and December 31, 2021 (audited) and three months ended March 31, 2022 and 2021, have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim consolidated financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete consolidated financial statements. In the opinion of management, the accompanying consolidated financial statements include all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the financial condition, results of operations and cash flows for the periods presented. The results of operations for the interim period ended March 31, 2022, are not necessarily indicative of the results of operations that may be expected for the year ended December 31, 2022, or any future period. These consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2021, which are included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 24, 2022. The Company has incurred recurring losses and negative cash flows from operations since inception. To date, the Company has not generated significant revenues from operations. The Company incurred a net loss of $ 6,035,394 5,636,952 177,309,522 The Company expects to incur substantial expenditures to further develop its technologies. The Company believes the working capital at March 31, 2022 will be sufficient to meet the business objectives as presently structured through the fourth quarter of 2022. As such, there is substantial doubt that we can continue as a going concern beyond that date. The Company’s ability to continue operations after its current cash resources are exhausted depends on its ability to obtain additional financing or achieve profitable operations, as to which no assurances can be given. Cash requirements may vary materially from those now planned because of changes in the Company’s focus and direction of its research and development programs, competitive and technical advances, or other developments. Additional financing will be required to continue operations after the Company exhausts its current cash resources and to continue its long-term plans for clinical trials and new product development. There can be no assurance that any such financing can be realized by the Company, or if realized, what the terms thereof may be, or that any amount that the Company is able to raise will be adequate to support the Company’s working capital requirements until it achieves profitable operations. The Company intends to seek additional funding through sublicensing arrangements, joint venturing or partnering, sales of rights to technology, government grants and public or private financings. The Company’s future success depends on its ability to raise capital and ultimately generate revenue and attain profitability. The Company cannot be certain that additional capital, whether through selling additional debt or equity securities or obtaining a line of credit or other loan, will be available to it or, if available, will be on terms acceptable to the Company. If the Company issues additional securities to raise funds, these securities may have rights, preferences, or privileges senior to those of its common stock, and the Company’s current shareholders may experience dilution. If the Company is unable to obtain funds when needed or on acceptable terms, the Company may be required to curtail its current development programs, cut operating costs and forego future development and other opportunities.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	3. Significant Accounting Policies Basis of Consolidation The consolidated financial statements include the accounts of Oragenics, Inc. and our wholly-owned subsidiary Noachis Terra, Inc. All intercompany balances and transactions have been eliminated. New Accounting Standards There are no additional accounting pronouncements issued or effective during the three months ended March 31, 2022, that have had, or are expected to have, a material impact on our consolidated financial statements. Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, as well as the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. The principal area of estimation reflected in the consolidated financial statements is stock-based compensation. Stock-Based Payment Arrangements Generally, all forms of stock-based payments, including stock option grants, and warrants are measured at their fair value on the awards’ grant date using a Black-Scholes pricing model. Stock-based compensation awards issued to non-employees for services rendered are recorded at the fair value of the stock-based payment. The expense resulting from stock-based payments are recorded in research and development expense or general and administrative expense in the consolidated statement of operations, depending on the nature of the services provided. Stock-based payment expense is recorded over the requisite service period in which the grantee provides services to us. To the extent the stock option grants, or warrants do not vest at the grant date they are subject to forfeiture. Stock-Based Compensation US GAAP requires all stock-based payments to employees, including grants of employee stock options, to be recognized in the consolidated financial statements based on their fair values as of the grant date. Stock-based compensation expense is recorded over the requisite service period in which the grantee provides services to us, to the extent the options do not vest at the grant date and are subject to forfeiture. For performance-based awards that do not include market-based conditions, we record share-based compensation expense only when the performance-based milestone is deemed probable of achievement. We utilize both quantitative and qualitative criteria to judge whether milestones are probable of achievement. For awards with market-based performance conditions, we recognize the grant-date fair value of the award over the derived service period regardless of whether the underlying performance condition is met. In connection with adopting ASU 2016-09, the Company made an accounting policy election to account for forfeitures in compensation expense as they occur. Warrants The Company used the Black Scholes Option Pricing Model in calculating the relative fair value of any warrants that have been issued. Net Loss Per Share During all periods presented, the Company had securities outstanding that could potentially dilute basic earnings per share in the future but were excluded from the computation of diluted net loss per share, as their effect would have been antidilutive because the Company reported a net loss for all periods presented. Basic and diluted net loss per share amounts are the same for the periods presented. Net loss per share is computed using the weighted average number of shares of common stock outstanding. Concentrations Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company maintains cash accounts in commercial banks, which may, at times, exceed federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents. As of March 31, 2022, the uninsured portion of this balance was $ 21,122,463 27,015,703 Grant Revenue Grant revenues are derived from a small business innovation research grant in the amount of $ 250,000

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	4. Stock-based Compensation The Company recognized stock-based compensation on all employee and non-employee awards as follows: Schedule of Stock Based Compensation Expenses Recognized For the Three Months Ended March 31, 2022 For the Three Months Ended March 31, 2021 Research and development $ 39,455 $ 30,927 General and administrative 50,792 1,092,834 Total Stock-based compensation $ 90,247 $ 1,123,761 The following table summarizes the stock option activity during the three months ended March 31, 2022: Summary of Stock Option Activity Number of Shares Weighted Average Weighted Average Aggregate (1) Outstanding at December 31, 2021 6,724,402 $ 0.95 7.99 $ 2,773 Granted — — — $ — Exercised — — — $ — Forfeited (54,498 ) 1.53 — $ — Outstanding at March 31, 2022 6,669,904 $ 0.95 7.75 $ — Exercisable at March 31, 2022 5,961,568 $ 0.96 7.61 $ — (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of our common stock as of December 31, 2021 and March 31, 2022, respectively. Total unrecognized compensation cost related to unvested stock options was $ 311,534 two years On February 25, 2022, the Company held its reconvened Annual Meeting. At the Annual Meeting, the shareholders of the Company approved and ratified the Company’s 2021 Equity Incentive Plan (the “2021 Plan”) Which is a successor to the Company’s 2012 Equity Incentive Plan (the “2012 Plan”). The 2021 Plan was originally approved by the Company’s Board of Directors on March 13, 2021. The 2021 Plan provides the aggregate number of shares of Common Stock that may be issued under the 2021 Plan will not exceed the sum of (i) 10,000,000 As of March 31, 2022, 10,582,806 Each executive officer and non-employee director receiving equity-based awards is subject to a minimum dollar value stock ownership holding requirement with respect to the awards received as well as all prior equity awards under the Plan which requirements are intended to align the ability to sell shares with the performance of the Company’s stock price. The executive officer recipients each have a minimum dollar value stock ownership holding requirement threshold equal to two times (2x) their then base salaries below which dollar threshold they would be precluded from selling any shares of Company stock obtained from the Company under its Plan. Also, the non-employee directors are each subject to a minimum dollar value stock ownership holding requirement threshold equal to six times the annual Board retainer ($ 270,000

Warrants

Warrants	3 Months Ended
	Mar. 31, 2022
Warrants
Warrants	5. Warrants During the three months ended March 31, 2021, the Company issued an additional 2,472,573 360,000 1.00 2,112,573 0.90 2,261,336 A summary of warrant activity for the year ended December 31, 2021 and the three months ended March 31, 2022 is as follows: Schedule of Warrants Activity Warrants Weighted Average Price Balance - December 31, 2020 20,513,145 $ 1.36 Granted — — Exercised (2,472,573 ) 0.91 Expired — — Balance - December 31, 2021 18,040,572 1.42 Granted — — Exercised — — Expired — — Balance - March 31, 2022 18,040,572 $ 1.42 The warrants outstanding as of March 31, 2022 are as follows: Schedule of Warrants Outstanding Exercise Price Warrants Outstanding Expiration Date $ 3.10 48,387 9/19/2022 $ 2.00 900,000 4/10/2023 $ 3.10 462,106 5/10/2024 $ 3.10 602,414 7/25/2024 $ 3.10 1,064,518 11/8/2024 $ 1.00 3,174,500 7/17/2025 $ 0.90 2,588,647 3/25/2024 $ 1.25 9,200,000 5/1/2025 18,040,572 All outstanding warrants are classified as equity on the Company’s Consolidated Balance Sheets.

Short-Term Notes Payable

Short-Term Notes Payable	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Short-Term Notes Payable	6. Short-Term Notes Payable As of March 31, 2022 and December 31, 2021, the Company had $ 122,175 303,416 Products Liability Insurance The product liability insurance policy has been renewed in subsequent periods without premium financing. Directors’ and Officers’ Insurance On July 24, 2021, the Company entered into a short-term note payable for $ 600,169 5.34 10-month May 24, 2022 On July 24, 2020, the Company entered into a short-term note payable for $ 413,784 5.39 11-month June 28, 2021

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Additional Consideration-NTI Acquisition In connection with the Company’s acquisition of NTI, the Company is obligated to pay the former sole shareholder of NTI contingent consideration based upon the exercise of certain of the Company’s outstanding warrants as follows: (i) twenty percent ( 20 0.75 0.90 45 1.00 The Company’s previously issued warrants carrying an exercise price of $0.75 have expired by their terms. As a result, no additional consideration will be due to the former sole shareholder of NTI relating to these warrants During the three months ended March 31, 2021, 2,472,573 360,000 1.00 2,112,573 0.90 As a result of the warrant exercises in 2021, the Company paid $ 542,263 During the three months ended March 31, 2022, no warrants were exercised that resulted in the payment of additional consideration to the sole former shareholder of NTI. NIH License Through NTI, the Company is a party to a Patent License and Biological Materials License Agreement (the “License Agreement” or “NIH License”), dated March 23, 2020, with the United States Department of Health and Human Services (the “HHS”), as represented by the National Institute of Allergy and Infectious Diseases (“NIAID”), an Institute within the National Institutes of Health (“NIH”). Under the terms of the License Agreement, we hold a nonexclusive, worldwide license to certain specified patent rights (including patent applications, provisional patent applications and Patent Cooperation Treaty (“PCT”) patent applications) and biological materials relating to the use of pre-fusion coronavirus spike proteins to exploit products (“Licensed Products”) and practice processes (“Licensed Processes”) that are covered by the licensed patent rights and biological materials for the purpose of developing and commercializing a vaccine product candidate for SARS-CoV-2. Under the terms of the License Agreement, the NIAID is entitled to receive a non-creditable, nonrefundable upfront license issue royalty of $ 30,000 11,739 The License Agreement will expire upon (a) twenty ( 20 NRC License On July 26, 2021, the Company entered into a non-exclusive Technology License Agreement (the “License Agreement”) with the National Research Council of Canada (“NRC”) pursuant to which the NRC grants to the Company a license to use NRC’s inventions, patents, trade secrets, know-how, copyright, biological material, designs, and/or technical information created by or on behalf of the NRC (the “NRC Technologies”) relating to the derivatives of CHO 2353 TM ”) As consideration for the grant of the license, the Company will pay to the NRC an annual (low five digits) license fee, with the initial portion of the fee covering the first three years of the license. Additionally, we will pay certain milestone payments (a) upon transfer of each Stable Cell listed in the Agreement and (b) with regard to each of the first three Products, (i) upon submission of the Investigational New Drug application (IND) related thereto, (ii) upon dosing the first patient in a Phase 1 or Phase 2 clinical trial, (iii) upon dosing the first patient in a Phase 3 clinical trial and (iv) upon first regulatory approval. Milestone payments range from the low five digits to high six digits. In addition, Oragenics will pay a low single-digit royalty to the NRC for the sale of Products, based on sales revenue, commencing after the first commercial sale. Pursuant to the License Agreement, the NRC is required to bear the responsibility and pay the costs to obtain and maintain patents related to the NRC Technologies in the U.S., Canada, Brazil, European Union, Japan, South Korea, Singapore, Australia, China, and India, and the NRC shall use reasonable efforts to obtain and maintain those patents. Additional countries may be requested by us, in which event, the NRC will file and maintain such patents, at our expense. Pursuant to the License Agreement, we are required to indemnify and hold the NRC and its employees and agents harmless from and against all liability and damages in connection with or arising out of all claims, demands, losses, damages, costs including solicitor and client costs, actions, suits or proceedings brought by any third party that are in any manner based upon, arising out of, related to, occasioned by, or attributable to the manufacturing, distribution, shipment, offering for sale, sale, or use of Products, services based on the NRC Technologies and product liability and infringement of intellectual property rights other than copyright, if any, licensed under the License Agreement. Unless terminated earlier, the License Agreement will terminate twenty ( 20 In addition, in connection with the initiative to develop its vaccine, we also previously entered into a material transfer agreement with the NRC for SARS-CoV-2 trimeric spike protein Wuhan variant and SARS-CoV-2 trimeric spike protein South African variant to move forward with pre-clinical testing. Leases Lab Facility-Alachua. 12,870 13,338 Corporate Office – Tampa. 2,207 4,138 4,392 4,524 4,800 Supplemental balance sheet information related to leases is as follows: Schedule of Supplemental Balance Sheet Information Related to Leases March 31, 2022 December 31, 2021 Weighted Average Remaining Lease Term In Years Operating leases 2.21 2.45 Weighted Average Discount Rate Operating leases 5.70 % 5.70 % Maturities of operating lease liabilities are as follows: Schedule of Maturities of Operating Lease Liabilities Year ended December 31: 2022 $ 163,244 2023 169,656 2024 146,718 Total $ 479,618 Less: Imputed interest (33,155 ) Present value of lease liabilities $ 446,463 The cost component of operating leases is as follows: Schedule of Cost Component of Operating Leases For the Three Months Ended March 31, 2022 For the Three Months Ended March 31, 2021 Operating lease cost $ 57,129 $ 56,964 Short-term lease cost 1,634 611 Total lease cost $ 58,763 $ 57,575 Supplemental cash flow information related to operating leases is as follows: Schedule of Supplemental Cash Flow Information Related to Operating Leases For the Three Months Ended March 31, 2022 For the Three Months Ended March 31, 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 58,535 $ 56,554

Shareholders_ Equity

Shareholders’ Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Shareholders’ Equity	8. Shareholders’ Equity Common Stock The Company’s Board of Directors and the Company’s shareholders, at its reconvened 2020 Annual Meeting on February 25, 2022, approved an amendment to our Amended and Restated Articles of Incorporation to (i) increase the number of authorized shares of common stock from 200,000,000 250,000,000 During the three months ended March 31, 2022, the Company issued no shares of common stock . During the three months ended March 31, 2021, the Company issued an aggregate of 23,871,338 21,398,765 27.8 2,472,573 2.3 Preferred Stock Series C Non-Voting, Non-Convertible, Preferred Stock Dividend and Redemption During the three months ended March 31, 2021, the Company provided a notice of redemption, to the holder of the Company’s Series C Preferred Stock to redeem all outstanding Series C Preferred Stock (which included the dividend of 26.697 5.6

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation The consolidated financial statements include the accounts of Oragenics, Inc. and our wholly-owned subsidiary Noachis Terra, Inc. All intercompany balances and transactions have been eliminated.
New Accounting Standards	New Accounting Standards There are no additional accounting pronouncements issued or effective during the three months ended March 31, 2022, that have had, or are expected to have, a material impact on our consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, as well as the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. The principal area of estimation reflected in the consolidated financial statements is stock-based compensation.
Stock-Based Payment Arrangements	Stock-Based Payment Arrangements Generally, all forms of stock-based payments, including stock option grants, and warrants are measured at their fair value on the awards’ grant date using a Black-Scholes pricing model. Stock-based compensation awards issued to non-employees for services rendered are recorded at the fair value of the stock-based payment. The expense resulting from stock-based payments are recorded in research and development expense or general and administrative expense in the consolidated statement of operations, depending on the nature of the services provided. Stock-based payment expense is recorded over the requisite service period in which the grantee provides services to us. To the extent the stock option grants, or warrants do not vest at the grant date they are subject to forfeiture.
Stock-Based Compensation	Stock-Based Compensation US GAAP requires all stock-based payments to employees, including grants of employee stock options, to be recognized in the consolidated financial statements based on their fair values as of the grant date. Stock-based compensation expense is recorded over the requisite service period in which the grantee provides services to us, to the extent the options do not vest at the grant date and are subject to forfeiture. For performance-based awards that do not include market-based conditions, we record share-based compensation expense only when the performance-based milestone is deemed probable of achievement. We utilize both quantitative and qualitative criteria to judge whether milestones are probable of achievement. For awards with market-based performance conditions, we recognize the grant-date fair value of the award over the derived service period regardless of whether the underlying performance condition is met. In connection with adopting ASU 2016-09, the Company made an accounting policy election to account for forfeitures in compensation expense as they occur.
Warrants	Warrants The Company used the Black Scholes Option Pricing Model in calculating the relative fair value of any warrants that have been issued.
Net Loss Per Share	Net Loss Per Share During all periods presented, the Company had securities outstanding that could potentially dilute basic earnings per share in the future but were excluded from the computation of diluted net loss per share, as their effect would have been antidilutive because the Company reported a net loss for all periods presented. Basic and diluted net loss per share amounts are the same for the periods presented. Net loss per share is computed using the weighted average number of shares of common stock outstanding.
Concentrations	Concentrations Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company maintains cash accounts in commercial banks, which may, at times, exceed federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents. As of March 31, 2022, the uninsured portion of this balance was $ 21,122,463 27,015,703
Grant Revenue	Grant Revenue Grant revenues are derived from a small business innovation research grant in the amount of $ 250,000

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Based Compensation Expenses Recognized	The Company recognized stock-based compensation on all employee and non-employee awards as follows: Schedule of Stock Based Compensation Expenses Recognized For the Three Months Ended March 31, 2022 For the Three Months Ended March 31, 2021 Research and development $ 39,455 $ 30,927 General and administrative 50,792 1,092,834 Total Stock-based compensation $ 90,247 $ 1,123,761
Summary of Stock Option Activity	The following table summarizes the stock option activity during the three months ended March 31, 2022: Summary of Stock Option Activity Number of Shares Weighted Average Weighted Average Aggregate (1) Outstanding at December 31, 2021 6,724,402 $ 0.95 7.99 $ 2,773 Granted — — — $ — Exercised — — — $ — Forfeited (54,498 ) 1.53 — $ — Outstanding at March 31, 2022 6,669,904 $ 0.95 7.75 $ — Exercisable at March 31, 2022 5,961,568 $ 0.96 7.61 $ — (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of our common stock as of December 31, 2021 and March 31, 2022, respectively.

Warrants (Tables)

Warrants (Tables)	3 Months Ended
	Mar. 31, 2022
Warrants
Schedule of Warrants Activity	A summary of warrant activity for the year ended December 31, 2021 and the three months ended March 31, 2022 is as follows: Schedule of Warrants Activity Warrants Weighted Average Price Balance - December 31, 2020 20,513,145 $ 1.36 Granted — — Exercised (2,472,573 ) 0.91 Expired — — Balance - December 31, 2021 18,040,572 1.42 Granted — — Exercised — — Expired — — Balance - March 31, 2022 18,040,572 $ 1.42
Schedule of Warrants Outstanding	The warrants outstanding as of March 31, 2022 are as follows: Schedule of Warrants Outstanding Exercise Price Warrants Outstanding Expiration Date $ 3.10 48,387 9/19/2022 $ 2.00 900,000 4/10/2023 $ 3.10 462,106 5/10/2024 $ 3.10 602,414 7/25/2024 $ 3.10 1,064,518 11/8/2024 $ 1.00 3,174,500 7/17/2025 $ 0.90 2,588,647 3/25/2024 $ 1.25 9,200,000 5/1/2025 18,040,572

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases is as follows: Schedule of Supplemental Balance Sheet Information Related to Leases March 31, 2022 December 31, 2021 Weighted Average Remaining Lease Term In Years Operating leases 2.21 2.45 Weighted Average Discount Rate Operating leases 5.70 % 5.70 %
Schedule of Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities are as follows: Schedule of Maturities of Operating Lease Liabilities Year ended December 31: 2022 $ 163,244 2023 169,656 2024 146,718 Total $ 479,618 Less: Imputed interest (33,155 ) Present value of lease liabilities $ 446,463
Schedule of Cost Component of Operating Leases	The cost component of operating leases is as follows: Schedule of Cost Component of Operating Leases For the Three Months Ended March 31, 2022 For the Three Months Ended March 31, 2021 Operating lease cost $ 57,129 $ 56,964 Short-term lease cost 1,634 611 Total lease cost $ 58,763 $ 57,575
Schedule of Supplemental Cash Flow Information Related to Operating Leases	Supplemental cash flow information related to operating leases is as follows: Schedule of Supplemental Cash Flow Information Related to Operating Leases For the Three Months Ended March 31, 2022 For the Three Months Ended March 31, 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 58,535 $ 56,554

Basis of Presentation (Details

Basis of Presentation (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Accounting Policies [Abstract]
Net loss	$ 6,035,394	$ 5,219,945
Cash used in operations	5,636,952	$ 4,327,429
Accumulated deficit	$ 177,309,522		$ 171,274,128

Significant Accounting Polici_3

Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Product Information [Line Items]
Uninsured portion of balance	$ 21,122,463		$ 27,015,703
Revenue	15,083
Grant [Member]
Product Information [Line Items]
Revenue	$ 250,000

Schedule of Stock Based Compens

Schedule of Stock Based Compensation Expenses Recognized (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-based compensation	$ 90,247	$ 1,123,761
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-based compensation	39,455	30,927
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Stock-based compensation	$ 50,792	$ 1,092,834

Summary of Stock Option Activit

Summary of Stock Option Activity (Details) - USD ($)		3 Months Ended	12 Months Ended
		Mar. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Number of options, outstanding, beginning balance		6,724,402
Weighted average exercise price, beginning balance		$ 0.95
Weighted average contractual term		7 years 9 months	7 years 11 months 26 days
Aggregate Intrinsic value outstanding, beginning	[1]	$ 2,773
Number of options, outstanding, Granted
Weighted average exercise price,Granted
Number of options, outstanding,Exercised
Weighted average exercise price,Exercised
Number of options, outstanding, Forfeited		(54,498)
Weighted average exercise price, Forfeited		$ 1.53
Number of options, outstanding,Ending Balance		6,669,904	6,724,402
Weighted average exercise price,Ending Balance		$ 0.95	$ 0.95
Aggregate Intrinsic value outstanding Ending	[1]		$ 2,773
Number of options, outstanding,Exercisable Ending Balance		5,961,568
Weighted average exercise price,Exercisable Ending Balance		$ 0.96
Weighted average contractual term, exercisable		7 years 7 months 9 days
Aggregate Intrinsic value Exercisable, Ending	[1]
[1]	The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of our common stock as of December 31, 2021 and March 31, 2022, respectively.

Stock-based Compensation (Detai

Stock-based Compensation (Details Narrative) - USD ($)	Feb. 25, 2022	Mar. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost related to unvested stock options		$ 311,534
Weighted average period		2 years
Non Employee Directors [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Annual retainer amount for the threshold of stock precluded from selling		$ 270,000
2021 Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Issuance of stock, shares	10,000,000
Reserved for future issuance	10,582,806

Schedule of Warrants Activity (

Schedule of Warrants Activity (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Warrants
Warrants, beginning balance	18,040,572	20,513,145
Weighted average price, beginning balance	$ 1.42	$ 1.36
Warrants, Granted
Weighted average price,Granted
Warrants, Exercised		(2,472,573)
Weighted average price,Exercised		$ 0.91
Warrants, Expired
Weighted average price Expired
Warrants, Exercised		2,472,573
Warrants, ending balance	18,040,572	18,040,572
Weighted average price ending balance	$ 1.42	$ 1.42

Schedule of Warrants Outstandin

Schedule of Warrants Outstanding (Details)	Mar. 31, 2022$ / sharesshares
Class of Warrant or Right [Line Items]
Warrants Outstanding	18,040,572
Range One [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding Exercise Price | $ / shares	$ 3.10
Warrants Outstanding	48,387
Expiration Date	Sep. 19, 2022
Range Two [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding Exercise Price | $ / shares	$ 2
Warrants Outstanding	900,000
Expiration Date	Apr. 10, 2023
Range Three [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding Exercise Price | $ / shares	$ 3.10
Warrants Outstanding	462,106
Expiration Date	May 10, 2024
Range Four [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding Exercise Price | $ / shares	$ 3.10
Warrants Outstanding	602,414
Expiration Date	Jul. 25, 2024
Range Five [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding Exercise Price | $ / shares	$ 3.10
Warrants Outstanding	1,064,518
Expiration Date	Nov. 8, 2024
Range Six [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding Exercise Price | $ / shares	$ 1
Warrants Outstanding	3,174,500
Expiration Date	Jul. 17, 2025
Range Seven [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding Exercise Price | $ / shares	$ 0.90
Warrants Outstanding	2,588,647
Expiration Date	Mar. 25, 2024
Range Eight [Member]
Class of Warrant or Right [Line Items]
Warrants Outstanding Exercise Price | $ / shares	$ 1.25
Warrants Outstanding	9,200,000
Expiration Date	May 1, 2025

Warrants (Details Narrative)

Warrants (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Proceeds from warrant exercises		$ 2,261,336
Warrant [Member]
Number of common stock issued in offering		2,472,573
Proceeds from warrant exercises		$ 2,261,336
Warrant One [Member]
Warrants to purchase shares of common stock		360,000
Warrants exercise price per share		$ 1
Warrant Two [Member]
Warrants to purchase shares of common stock		2,112,573
Warrants exercise price per share		$ 0.90

Short-Term Notes Payable (Detai

Short-Term Notes Payable (Details Narrative) - USD ($)	Jul. 24, 2021	Jul. 24, 2020	Mar. 31, 2022	Dec. 31, 2021
Short-Term Debt [Line Items]
Short-term notes payable			$ 122,175	$ 303,416
Short-term Note Payable [Member] | Directors' and Officers' Insurance [Member]
Short-Term Debt [Line Items]
Short-term notes payable	$ 600,169	$ 413,784
Debt interest rate	5.34%	5.39%
Amortization period	10-month	11-month
Debt maturity date	May 24, 2022	Jun. 28, 2021

Schedule of Supplemental Balanc

Schedule of Supplemental Balance Sheet Information Related to Leases (Details)	Mar. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Weighted average remaining lease term in years, operating leases	2 years 2 months 15 days	2 years 5 months 12 days
Weighted average discount rate, operating leases	5.70%	5.70%

Schedule of Maturities of Opera

Schedule of Maturities of Operating Lease Liabilities (Details)	Dec. 31, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022	$ 163,244
2023	169,656
2024	146,718
Total	479,618
Less: Imputed interest	(33,155)
Present value of lease liabilities	$ 446,463

Schedule of Cost Component of O

Schedule of Cost Component of Operating Leases (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 57,129	$ 56,964
Short-term lease cost	1,634	611
Total lease cost	$ 58,763	$ 57,575

Schedule of Supplemental Cash F

Schedule of Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases	$ 58,535	$ 56,554

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative)	May 01, 2020$ / shares	Nov. 30, 2019USD ($)	Nov. 30, 2016USD ($)ft²	Mar. 31, 2022USD ($)$ / shares	Mar. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2021USD ($)
Loss Contingencies [Line Items]
Monthly lease payments | $				$ 58,535	$ 56,554
Tampa Facility [Member]
Loss Contingencies [Line Items]
Area of office space leased | ft²			2,207
Range One [Member]
Loss Contingencies [Line Items]
Warrants exercise price per share | $ / shares				$ 3.10
Range Two [Member]
Loss Contingencies [Line Items]
Warrants exercise price per share | $ / shares				$ 2
Minimum [Member] | Alachua Facility [Member]
Loss Contingencies [Line Items]
Payments of rent | $				$ 12,870
Minimum [Member] | Tampa Facility [Member]
Loss Contingencies [Line Items]
Monthly lease payments | $		$ 4,524	$ 4,138
Maximum [Member] | Tampa Facility [Member]
Loss Contingencies [Line Items]
Monthly lease payments | $		$ 4,800	$ 4,392
Warrant [Member]
Loss Contingencies [Line Items]
Exercise of warrants | shares					2,472,573
Warrant [Member] | Range One [Member]
Loss Contingencies [Line Items]
Warrants exercise price per share | $ / shares					$ 1
Exercise of warrants | shares					360,000
Warrant [Member] | Range Two [Member]
Loss Contingencies [Line Items]
Warrants exercise price per share | $ / shares					$ 0.90
Exercise of warrants | shares					2,112,573
Warrant One [Member]
Loss Contingencies [Line Items]
Warrants exercise price per share | $ / shares					$ 1
Noachis Terra, Inc. [Member] | Warrant [Member]
Loss Contingencies [Line Items]
Operating activities | $						$ 542,263
Stock Purchase Agreement [Member] | Warrant [Member] | Mr. Joseph Hernandez [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Warrants exercise price per share | $ / shares	$ 0.75
Stock Purchase Agreement [Member] | Warrant [Member] | Mr. Joseph Hernandez [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Warrants exercise price per share | $ / shares	$ 0.90
Stock Purchase Agreement [Member] | Warrant One [Member] | Mr. Joseph Hernandez [Member]
Loss Contingencies [Line Items]
Percentage of warrant exercise	45.00%
Warrants exercise price per share | $ / shares	$ 1
Stock Purchase Agreement [Member] | Noachis Terra, Inc. [Member] | Warrant [Member]
Loss Contingencies [Line Items]
Contingent consideration descriptions	(i) twenty percent (20%) of the cash proceeds received by the Company upon exercise of the Company’s warrants carrying an exercise price of $0.75 and $0.90 and (ii) forty-five percent (45%) of the cash proceeds received by the Company upon exercise of the Company’s warrants carrying an exercise price of $1.00, in each case, for so long as the warrants remain outstanding
Percentage of warrant exercise	20.00%
Warrants exercise term description	The Company’s previously issued warrants carrying an exercise price of $0.75 have expired by their terms. As a result, no additional consideration will be due to the former sole shareholder of NTI relating to these warrants
License Agreement [Member]
Loss Contingencies [Line Items]
Royalty expenses | $				30,000
Reimbursement expenses | $				$ 11,739
Agreement expiration term				20 years
Alachua Facility [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Payments of rent | $				$ 13,338

Shareholders_ Equity (Details N

Shareholders’ Equity (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Feb. 25, 2022	Feb. 24, 2022	Dec. 31, 2021	Mar. 15, 2021	Jan. 28, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock shares authorized	250,000,000		250,000,000	200,000,000	200,000,000
Gross proceeds from common stock		$ 26,676,392
Warrants outstanding	18,040,572
Series C Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Redemption of preferred shares							26.697
Redemption of preferred stock						$ 5,600,000
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued during the period		23,871,338
Warrants outstanding		2,472,573
Gross proceeds from warrants		$ 2,300,000
Common Stock [Member] | ATM Program [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued during the period		21,398,765
Gross proceeds from common stock		$ 27,800,000