Welcome to our dedicated page for Oramed Pharmaceuticals news (Ticker: ORMP), a resource for investors and traders seeking the latest updates and insights on Oramed Pharmaceuticals stock.
Oramed Pharmaceuticals Inc. (NASDAQ: ORMP) is a pioneering pharmaceutical company focused on the development and commercialization of innovative oral drug delivery systems. Headquartered in the United States and Israel, Oramed aims to revolutionize the treatment of various diseases by transforming injectable therapies into oral formulations.
Oramed's flagship product, an orally ingestible insulin capsule known as ORMD-0801, is currently in Phase 2 clinical trials under the supervision of the U.S. Food and Drug Administration (FDA). This product holds significant promise for improving the quality of life for diabetes patients by eliminating the need for daily insulin injections.
The company’s proprietary Protein Oral Delivery (POD™) technology is designed to protect therapeutic proteins like insulin from the harsh conditions of the gastrointestinal tract, ensuring their effective delivery and absorption in the body. This platform technology opens up possibilities for the oral administration of a wide range of therapeutic proteins and peptides.
Oramed recently announced a strategic partnership with Hefei Tianhui Biotech Co., Ltd. (HTIT) to establish a joint venture aimed at the global commercialization of Oramed's oral insulin and POD™ pipeline. This collaboration leverages HTIT's advanced manufacturing capabilities, which include a state-of-the-art facility in Hefei, China. The initial phase of the partnership includes a $70 million investment from HTIT and a $20 million investment from Oramed, the latter consisting of both cash and shares of common stock.
Additionally, Oramed has entered a securities agreement with Scilex Holding Company, securing an 18-month Senior Secured Promissory Note valued at approximately $101.9 million. This agreement includes an interest rate of SOFR plus 8.5% and offers Oramed new warrants for up to 13 million shares of Scilex common stock.
Oramed is also branching into topical treatments through its acquisition of PeriTech Pharma Ltd.’s innovative film-forming technology. This includes over-the-counter treatments for hemorrhoids and other dermatological conditions. Oramed has secured an exclusive licensing agreement with an international consumer and pharmaceutical group, promising future royalties based on net sales.
With a robust pipeline and strategic partnerships, Oramed is well-positioned to advance its mission of improving patient care and increasing shareholder value through groundbreaking oral drug delivery solutions.
Oramed Pharmaceuticals (ORMP) announced a restructuring of its debt with Scilex Holding Company (SCLX). Key points:
- Oramed agreed to restructure $22.5 million of Scilex's existing Senior Secured Promissory Note
- In exchange, Oramed receives a $25 million convertible note with 5.5% interest, warrants for 3.75 million Scilex shares, and $12.5 million repayment
- Oramed and other investors will acquire rights to an 8% royalty on net sales of certain Scilex products, including ZTlido
- The restructuring extends part of the payment schedule but offers potential upside through warrants and conversion options
CEO Nadav Kidron stated the restructuring enhances the potential value of Oramed's investment in Scilex while aligning with their strategy to maximize shareholder value.
Oramed Pharmaceuticals has issued a Letter to Shareholders, highlighting several key developments. The company announced a $20 million stock repurchase program, reflecting confidence in its value. Oramed is actively engaging with the FDA on a new Phase 3 protocol for its oral insulin program, targeting specific patient subgroups. The company has received $40 million from the $102 million principal of Scilex Holding Company's Senior Secured Note, with the next $20 million installment due in September. Additionally, Oramed is finalizing a joint venture with Hefei Tianhui Biotech Co., (HTIT), which includes significant investments to support clinical and business activities. These initiatives aim to drive shareholder value and advance Oramed's oral drug delivery platforms.
Oramed Pharmaceuticals (Nasdaq: ORMP) has announced a stock buy-back program worth up to $20 million. This plan, approved by the Board of Directors, allows the company to repurchase its common stock over the next 12 months. The buy-back can be executed through open market purchases, privately-negotiated transactions, or other methods, complying with Rule 10b-18 under the Securities Exchange Act of 1934. The decision to buy back shares will depend on various factors including stock price, market conditions, and alternative investments. The program does not obligate Oramed to repurchase shares and can be altered or terminated at any time by the Board. The repurchases will be funded from the company's existing cash reserves.
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