Oragenics (NYSE:OGEN) announced today that it has developed a new formulation for its novel neurosteroid, targeting the treatment of neurological disorders through intranasal delivery.

The company's lead drug candidate, ONP-002, is a new chemical entity (NCE) specifically designed for nasal administration to directly target the brain.

Oragenics is preparing to conduct a Phase II study to evaluate the safety and feasibility of ONP-002 in concussed patients.

This upcoming study will also assess the drug's effectiveness by analyzing patient blood biomarker profiles and functional outcomes.