During pre-market trading hours on Friday, Oramed Pharmaceuticals Inc. (ORMP) increased 9.7% to $19.0. The share price of ORMP stock increased 14.70% to close the last trading session at $17.32. During the trading period, the price of ORMP stock oscillated between $14.9761 and $17.80. A total of 1.68 million shares of ORMP stock were traded, over and above its 100 day average of 0.67 million shares. In the last five days, ORMP stock has gained 18.79%, while it has gained 42.79% in the last month. When news that its oral vaccine was going to be part of a key talk continued ORMP stock rally after hours that started in the regular session.
What ORMP vaccine is to be discussed?
The oral delivery solutions provider Oramed specializes in providing oral delivery solutions for drugs currently administered via injection. A pioneer in protein orally delivered (POD) technology, ORMP was founded in 2006, and has offices in the US and Israel. By developing its proprietary lead candidate, ORMD-0801, ORMP hopes to transform the treatment of diabetes, which is undergoing two pivotal Phase 3 studies and can potentially replace inhaled insulin as the first commercial oral insulin capsule. Additionally, ORMP is developing a capsule analog of GLP-1 (Glucagon-like peptide-1).
The Arena International Vaccines Virtual Conference 2021 on August 5, 2021, has featured the oral COVID-19 vaccine, developed by Oravax Medical Inc., an Oramed majority-owned company, announced ORMP in a press release yesterday. Title of the presentation was “Development of the World’s First Triple Antigen Oral SARS Cov-2 Vaccine”.
ORMP’s Chief Executive Officer, Nadav Kidron, and Premas Biotech Co-founder & Managing Director, Prabbudha Kundu delivered the presentation. Using the company’s virus-like particle (VLP) vaccine technology, Oravax targets proteins less susceptible to mutation, including proteins on the surface of SARS CoV-2 viruses, thus making the vaccine potentially more effective against COVID-19 variants in the future.
Oramed (ORMP) recently announced the appointment of Michael Rabinowitz to the newly created role of Chief Commercial Officer, effective August 1, 2021. Rabinowitz will be responsible for the overall support and execution of ORMP’s commercial strategy.
How ORMP stock will utilize the expertise of the newly appointed executive?
In preparation for the next step of commercializing ORMP’s oral insulin, ORMD-0801, the company is completing its Phase III trials. With Rabinowitz’s years of expertise in global business, Oramed (ORMP) is well-prepared to move forward smoothly into its next phase of growth and development. He has a distinguished record of launching new products successfully throughout his career, and will be key to achieving ORMP’s commercial goals.
