NEW
YORK, Feb. 9, 2023 /PRNewswire/ -- Oramed
Pharmaceuticals Inc. (Nasdaq: ORMP) (TASE: ORMP) (www.oramed.com),
announced today that it continues to conduct a comprehensive
analysis of the data from its discontinued Phase 3 oral insulin
trials. In addition, management and the Board of Directors
are examining the Company's existing pipeline and conducting a
comprehensive review of strategic alternatives focused on enhancing
shareholder value.
As part of this review process, Oramed will explore potential
strategic alternatives that may include, but are not limited to, an
acquisition, merger, business combination, or other transaction.
Oramed has not set a timetable for completion of this review
process. There can be no assurance that this process will
result in any such transaction and the Company does not intend to
disclose additional details unless and until it has entered into a
specific transaction.
"Over the coming month, our clinical team will continue its deep
dive into the unblinded Phase 3 data to assess the optimal way to
move forward with our oral insulin assets as well as our platform
technology," stated Chief Executive Officer, Nadav Kidron. "Concurrently, our management team
and Board are also evaluating a broader range of strategic
opportunities to enhance shareholder value."
About Oramed Pharmaceuticals
Oramed Pharmaceuticals (Nasdaq: ORMP) (TASE: ORMP) is a platform
technology pioneer in the field of oral delivery solutions for
drugs currently delivered via injection. The Company's novel
Protein Oral Delivery (POD™) technology is designed to protect drug
integrity and increase absorption. Oramed has offices in
the United States and Israel. For more information, please visit
www.oramed.com.
Forward-looking statements: This press release
contains forward-looking statements. For example, we are using
forward-looking statements when we discuss our future strategy,
potential strategic alternatives, plans and prospects, providing
further clinical and business updates based on additional analyses,
and our discontinuation of clinical trial activities for
ORMD-0801. These forward-looking statements are based on the
current expectations of the management of Oramed only, and are
subject to a number of factors and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements, including the Company's process to
evaluate strategic options; the terms, timing, structure, benefits
and costs of any strategic transaction and whether any transaction
will be consummated at all; the impact of any strategic transaction
on the Company; the outcomes of any litigation, regulatory
proceedings, inquiries or investigations to which the Company may
be subject; the ability to obtain financing or third-party
approvals as needed; our ability to achieve the intended benefits
of our strategic initiatives; the risks and uncertainties related
to the progress, timing, cost, and results of clinical trials and
product development programs; difficulties or delays in obtaining
regulatory approval or patent protection for our product
candidates; competition from other pharmaceutical or biotechnology
companies; and our ability to obtain additional funding required to
conduct our research, development and commercialization activities.
In addition, the following factors, among others, could cause
actual results to differ materially from those described in the
forward-looking statements: changes in technology and market
requirements; delays or obstacles in launching our clinical trials;
changes in legislation; inability to timely develop and introduce
new technologies, products and applications; lack of validation of
our technology as we progress further and lack of acceptance of our
methods by the scientific community; inability to retain or attract
key employees whose knowledge is essential to the development of
our products; unforeseen scientific difficulties that may develop
with our process; greater cost of final product than anticipated;
loss of market share and pressure on pricing resulting from
competition; laboratory results that do not translate to equally
good results in real settings; our patents may not be sufficient;
that products may harm recipients; and other factors discussed in
the "Risk Factors" section of the Company's most recent Annual
Report on Form 10-K and Quarterly Reports on Form 10-Q, each of
which is on file with the Securities and Exchange Commission and in
other filings that the Company makes with the Securities and
Exchange Commission in the future. All of these factors could cause
the actual results or performance of Oramed to differ materially
from those contemplated in such forward-looking statements. Except
as otherwise required by law, Oramed undertakes no obligation to
publicly release any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
Company Contact:
Zach
Herschfus
+1-844-9-ORAMED
zach@oramed.com
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SOURCE Oramed Pharmaceuticals Inc.