Oramed Pharmaceuticals Inc Stock Price, News & Analysis

MyMD Pharmaceuticals has announced that its investment company, Oravax Medical, signed a Cooperation and Purchase Agreement with Vietnam's Tan Thanh Holdings for an initial pre-order of 10 million doses of an oral COVID-19 vaccine currently under development. The deal also allows for significant follow-on orders. Oravax's vaccine targets less mutable proteins and has benefits in logistics due to simplified storage requirements. MyMD holds a 13% stake in Oravax, along with a 2.5% royalty on future net sales. This agreement may boost revenue potential for both companies in the ASEAN region.

Oramed Pharmaceuticals Inc. (Nasdaq: ORMP) announced that its subsidiary, Oravax Medical, has signed a Cooperation and Purchase Agreement with Vietnam's Tan Thanh Holdings. This agreement involves an initial pre-order of 10 million doses of an oral COVID-19 vaccine currently in development, with potential follow-on orders worth hundreds of millions. Tan Thanh will fund advanced clinical trials and regulatory approval, targeting the ASEAN market. Oravax's vaccine aims to combat COVID-19 variants and offers logistical advantages. The ASEAN pharmaceutical market is valued at $25 billion and is growing rapidly.

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.