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 announced the enrollment of the first participant in a Phase 1 clinical trial for its oral COVID-19 vaccine, developed by subsidiary Oravax Medical, in Johannesburg, South Africa. The trial aims to assess safety, tolerability, and efficacy while targeting three SARS-CoV-2 surface proteins, potentially increasing effectiveness against variants. The study will enroll 24 participants unvaccinated and without prior infection, with doses administered three weeks apart. Oramed anticipates rapid progress towards pivotal trials for emergency use approval, highlighting the vaccine's scalable manufacturing and distribution advantages.
Oramed Pharmaceuticals (Nasdaq: ORMP) has appointed Netanel Derovan as Chief Legal Officer and Company Secretary, effective January 9, 2022. Derovan, with over 20 years in senior legal roles, previously served at Teva Pharmaceutical Industries and Goldfarb Seligman. His expertise is expected to bolster Oramed's corporate strategy. CEO Nadav Kidron expressed confidence in Derovan's operational skills contributing to the company's growth, particularly as it approaches significant milestones.
Oramed Pharmaceuticals Inc. (NASDAQ: ORMP) announced its common stock will be added to the MSCI USA Small Cap Index effective November 30, 2021. This milestone follows the earlier inclusion in the Russell 2000 and Russell 3000 Indexes. The MSCI USA Small Cap Index encompasses 1,851 constituents and represents about 14% of the U.S. equity market's free float-adjusted market cap. CEO Nadav Kidron expressed optimism regarding this inclusion, noting its potential to broaden the company's shareholder base.
Oramed Pharmaceuticals has announced that it has enrolled over 75% of the 675 patients targeted for its Phase 3 study, ORA-D-013-1, evaluating its oral insulin capsule, ORMD-0801, for type 2 diabetes treatment. This study is significant as the first FDA-approved Phase 3 oral insulin trial, testing patients currently on glucose-lowering agents. Topline results are expected in 2022 after a 6-month treatment assessment of glycemic control. Concurrently, a second Phase 3 study commenced enrollment in March, aiming for 450 patients.
MyMD Pharmaceuticals has formed a joint venture with Genomma Lab to develop Oravax's oral COVID-19 vaccine candidate in Mexico. This partnership leverages Genomma's distribution networks in Latin America. Oravax's vaccine aims to be a pioneering oral solution, potentially easier to distribute than traditional injections. The global COVID-19 vaccine market is anticipated to reach $25 billion by 2024, with significant opportunities in Latin America. Oravax has also received regulatory approval to initiate clinical trials in South Africa and is preparing for trials in Israel.
Oramed Pharmaceuticals, through its subsidiary Oravax Medical, has formed a 50/50 joint venture with Genomma Lab to develop and commercialize an oral COVID-19 vaccine in Mexico. The initiative will leverage Genomma Lab's supply chain and market expertise in Latin America. They plan a US$20 million share swap to align interests, with Genomma Lab also committing future investments in Oravax. Oravax's vaccine targets three SARS CoV-2 proteins, potentially offering stronger efficacy against variants. The joint venture aims to expedite emergency approval and address the Latin American vaccine market, estimated at 662 million people.
Oramed Pharmaceuticals (Nasdaq: ORMP) will have CEO Nadav Kidron present a company overview at the H.C. Wainwright 7th Annual Israel Virtual Conference on November 15, 2021, at 11:30 am Eastern. The presentation will focus on their innovative oral drug delivery technology and its lead candidate, ORMD-0801, aimed at transforming diabetes treatment as a potential oral insulin capsule. The event can be accessed online for 90 days following the presentation. Visit www.oramed.com for further details.
Oramed Pharmaceuticals has successfully closed a registered direct offering of 2,000,000 shares of common stock at $25 per share, yielding gross proceeds of $50 million. The funds will be utilized for working capital and general corporate purposes. The offering was facilitated by H.C. Wainwright & Co. and follows a previously filed shelf registration statement. Oramed is focused on oral drug delivery systems, particularly its lead candidate, ORMD-0801, which aims to provide a breakthrough oral insulin solution for diabetes treatment.
Oramed Pharmaceuticals, a clinical-stage pharmaceutical company, has announced a registered direct offering of 2,000,000 shares of common stock priced at $25 per share, aiming to raise $50 million in gross proceeds. The offering is expected to close on or about November 5, 2021. The funds will be used for working capital and general corporate purposes. H.C. Wainwright & Co. serves as the exclusive placement agent. This follows a previous shelf registration statement filed on July 15, 2021, which was declared effective on July 26, 2021.
Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) announced that its subsidiary, Oravax Medical Inc., received clearance from the South African Health Products Regulatory Authority to initiate a Phase 1 clinical trial for its oral COVID-19 vaccine. This vaccine utilizes virus-like particle technology targeting three SARS-CoV-2 proteins, potentially enhancing efficacy against variants. The trial, which aims to simplify vaccine distribution by allowing self-administration, is set to begin shortly, with plans for a Phase 2/3 trial for emergency approval following successful results.
FAQ
What is the current stock price of Oramed Pharmaceuticals (ORMP)?
What is the market cap of Oramed Pharmaceuticals (ORMP)?
What is Oramed Pharmaceuticals Inc.'s primary focus?
What is ORMD-0801?
What is the significance of Oramed's POD™ technology?
Who are Oramed's strategic partners?
What recent financial agreements has Oramed entered into?
What is the purpose of the joint venture with HTIT?
What is Oramed's recent acquisition related to dermatological treatments?
How is Oramed expanding its market presence?
What are the potential benefits of Oramed's oral insulin capsule?
Where is Oramed Pharmaceuticals Inc. headquartered?
