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. develops oral drug delivery technology for drugs commonly delivered by injection. Its Protein Oral Delivery, or POD, platform is designed to protect therapeutic proteins in the gastrointestinal tract and improve absorption, with company updates centered on oral insulin development and related clinical-stage programs.
Oramed news also covers its expanded strategic investment activity, including positions and agreements involving Scilex and Alpha Tau Medical, as well as financial results, cash returns, dividend actions, shareholder rights matters, and other capital-structure developments. Recurring announcements connect the company’s pharmaceutical platform with its investment portfolio, governance actions, and operating expenses.
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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