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 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.
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.