Oramed Releases Letter to Shareholders, Highlighting Russell 2000/3000 Index Inclusion, Scilex Loan Repayment, Strategic Portfolio Appreciation, and a Strengthened Balance Sheet
Rhea-AI Summary
Oramed (NASDAQ: ORMP) released a shareholder letter detailing portfolio gains, Scilex loan repayments, and upcoming Russell 2000/3000 index inclusion.
Key points include Alpha Tau's value rising to about $167M, Scilex repayments totaling roughly $118M to date, and total cash and assets of about $270M as of March 31, 2026 (unaudited).
Positive
- Alpha Tau stake rose from about $38.2M invested to roughly $167M value (incl. warrants)
- Scilex loan: $99.5M invested, approximately $118M recouped and about $161M total recovery expected
- Oramed retains 4% royalty on worldwide ZTlido net sales for about eight more years
- Total cash and assets of roughly $270M as of March 31, 2026 (unaudited)
- Lifeward cut quarterly operating cash burn by about 33% year-over-year in Q1 2026
- Lifeward grew ReWalk Personal exoskeleton sales by 11% in Q1 2026
- Pelthos Therapeutics exit at $3.6M versus $1.5M invested seven months earlier
- Expected inclusion in Russell 2000 and Russell 3000 indexes effective June 29, 2026
Negative
- None.
News Market Reaction – ORMP
On the day this news was published, ORMP gained 16.28%, reflecting a significant positive market reaction. Argus tracked a peak move of +16.0% during that session. Our momentum scanner triggered 39 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $30M to the company's valuation, bringing the market cap to $212.41M at that time. Trading volume was very high at 3.3x the daily average, suggesting strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 17 | Index inclusion news | Positive | +0.5% | Announcement of upcoming inclusion in Russell 2000 and Russell 3000 indexes. |
| Jan 13 | Strategic transaction | Neutral | -1.2% | Transfer of POD platform to Lifeward for equity, notes, warrants and royalties. |
| Jan 07 | Dividend & loan returns | Positive | +6.5% | Additional Scilex payment and approval of a special cash dividend to shareholders. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news with clear capital returns or index inclusion has typically seen modest positive price reactions, while a complex strategic transaction drew a mild negative response.
Key Terms
russell 2000 financial
russell 3000 financial
vwap financial
breakthrough device designation regulatory
pma submission regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Significant Appreciation in Alpha Tau (NASDAQ: DRTS) Position (up
~ )$128 Million - Scilex (NASDAQ: SCLX) Loan Substantially Repaid
- Total Cash and Assets Build to Approximately
$270 Million $10.5 million - Oramed to Join the Russell 2000 and Russell 3000 Indexes this week
Dear Shareholders,
I am pleased to update you on the significant developments across Oramed's operations and strategic initiatives since our last letter. We have continued to advance our diversified strategy, pairing disciplined capital deployment across the biomedical and broader investment landscape with active, hands-on engagement in the companies in which we invest.
Following the transfer of our oral drug-delivery platform and refined oral insulin program to Lifeward, Oramed is now a diversified operating company. We leverage our deep industry relationships, regulatory expertise, and operational experience to identify, structure, and help unlock value across a diversified strategic portfolio, while maintaining a strong balance sheet and a continued commitment to rewarding shareholders.
Strategic Transactions
Alpha Tau Medical Ltd.
- Invested:
- Current Value:
Alpha Tau (NASDAQ: DRTS) is pioneering Alpha DaRT™, a breakthrough alpha-radiation therapy that eradicates solid tumors from within while sparing surrounding healthy tissue.
Alpha Tau remains what we believe to be a compelling opportunity that has delivered a series of clinical and commercial milestones, with what we view as significant potential upside. Highlights include:
- Landmark
U.S . commercialization partnership with Tolmar (June 2026). Alpha Tau granted Tolmar exclusiveU.S . rights to commercialize Alpha DaRT in prostate cancer — a powerful validation of the platform in a market of more than 330,000 newU.S . cases a year. The deal delivers a$20 million $12 25% premium to VWAP),$15 million U.S . manufacturing, up to$161.5 million 60% of net sales, retaining the majority of the economics on every treatment sold in theU.S . prostate indication. To put that in perspective, at an estimated$60,000 $120,000 30% could unlock a U.S. market opportunity exceeding$2 billion - Standout pancreatic-cancer survival data at ASCO 2026 (June 2026). According to Alpha Tau's public disclosures, pooled Phase I/II results showed median overall survival of roughly 11 months, compared to a reported four-to-six-month historical benchmark for second-line metastatic patients, with a clean safety profile and no treatment-related deaths.
- FDA clearance to complete the REGAIN glioblastoma trial (June 2026). According to Alpha Tau's public disclosures, the FDA cleared Alpha Tau to finish enrollment and add two
U.S . academic sites, with early data from the first three patients showing100% local disease control and a67% complete response rate. Alpha DaRT holds FDA Breakthrough Device Designation in this indication.
Looking ahead, based on its public disclosures, Alpha Tau is advancing five concurrent FDA-cleared
Scilex Holding
- Invested:
- Recouped to Date: ~
- Royalties (net sales):
Scilex Holding Company (NASDAQ: SCLX) - In 2023, we provided Scilex with an approximately
We also retain a
Lifeward
In March 2026 we completed a transformative transaction with Lifeward Ltd. (NASDAQ: LFWD), a revenue-generating medical robotics company behind the ReWalk Personal Exoskeleton and AlterG anti-gravity systems.
Lifeward's first-quarter 2026 results, reported in May 2026, reflected encouraging operational progress: it cut quarterly operating cash burn by roughly
Additional Portfolio Holdings
Beyond these core positions, we hold a diversified portfolio of holdings, each selected for its potential to generate substantial returns while complementing our competencies, including Nano Dimension, BioXcel Therapeutics, Diasome Pharmaceuticals, Hopec Pharma, and Ninamed, alongside secured loans yielding real estate investments. This approach is already delivering realized gains: we recently exited Pelthos Therapeutics at
Russell Indexes
As announced on June 17, 2026, Oramed is expected to be added to the Russell 2000 and Russell 3000 indexes in connection with FTSE Russell's 2026 annual reconstitution, effective at the U.S. market open on June 29, 2026. We expect this milestone to enhance Oramed's visibility within the investment community, broaden our shareholder base, and support trading liquidity in our common stock over time.
In Conclusion
We believe the numbers speak for themselves. We have transformed our oral insulin program from a stand-alone clinical effort into a substantial equity and economic interest in a revenue-generating partner; we have substantially recouped our Scilex loan, while retaining long-dated royalty upside; and we have built a diversified portfolio anchored by a significant and highly appreciated position in Alpha Tau, alongside strategic holdings in Lifeward and others. Our anticipated inclusion in the Russell 2000 and Russell 3000 indexes is expected to broaden our shareholder base and improve liquidity, and our balance sheet remains strong, with total cash and assets of approximately
We believe this combination of disciplined capital deployment, active strategic portfolio engagement, and a strong balance sheet positions Oramed to continue pursuing meaningful, durable value for shareholders. Thank you for your continued support. We look forward to updating you on our progress in the coming quarters.
Sincerely,
Nadav Kidron
President and Chief Executive Officer
Oramed Pharmaceuticals Inc.
About Oramed Pharmaceuticals
Oramed Pharmaceuticals Inc. (Nasdaq/TASE: ORMP) is a diversified operating company that deploys capital across the biomedical and broader investment landscape, leveraging deep industry relationships, regulatory expertise, and operational experience to build and actively support a diversified portfolio of holdings. For more information, please visit https://oramed.com/.
Forward-looking statements:
This letter contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "may," "will," "could," "should," "potential," and similar expressions are intended to identify forward-looking statements. For example, we are using forward-looking statements when we discuss the expected benefits of, and value to be realized from, the Lifeward transaction, including the convertible notes, equity, warrants, and revenue-sharing payments; expected returns from our investment portfolio, including Scilex, Alpha Tau, Nano Dimension, and others; statements regarding Alpha Tau's clinical trials, regulatory progress, the Tolmar collaboration, and potential commercial approvals, which are based solely on Alpha Tau's public disclosures and over which we have no control; our real estate and other investments; our expected inclusion in the Russell indexes and expected benefits therefrom; our share-repurchase plans; current portfolio valuations, which are based on market prices that fluctuate and may decline; the expected timing and amount of remaining Scilex loan repayments; and our ability to create shareholder value through our diversified approach. These statements are based on the current expectations of management only and are subject to a number of factors and uncertainties, including risks related to clinical trials and product development; regulatory approval; competition; market volatility affecting our investment portfolio and the valuations described herein; our ability to realize expected returns from Scilex, Lifeward, and other investments; and our ability to complete the expected index inclusion and additional financings; and general economic, geopolitical, and market conditions, that could cause actual results to differ materially from those described in such forward-looking statements. Inclusion in any index is determined by FTSE Russell and is not final until the reconstitution becomes effective.
A discussion of these and other factors with respect to the Company is set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports on Form 10-Q filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact:
+1-844-9-ORAMED
ir@oramed.com
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