Oramed Inc. (NASDAQ: ORMP) stock surged by 13.32% in last trading closed whereas the ORMP stock rises by 58.86% during pre-market trading session after Oramed announced its successful development of oral vaccine for COVID-19 together with Premas Biotech. Oramed is a pharmaceutical company deals with the development of oral drug delivery systems especially an oral insulin for the treatment of type 2 diabetes.
What is happening?
The Oral vaccine developed by Oramed and Premas Biotech has been a great achievement due to its efficacy. The vaccine is able to produce antibodies just after using it once. Now with the intention to make it successful in the market, Premas, Oramed and other shareholders have formed an Oravax Medical Inc. Both Oramed and Premas has provided license to Oravax for the development of oral COVID-19 vaccines.
How does the vaccine work?
Upon trial it has been observed that, Oravax COVID-19 capsule’s single dose is efficient enough to generate antibodies. Oravax vaccine provides systematic immunity through:
- Immunoglobulin G (IgG) which is the most common antibody in blood and bodily fluids that provides protection against viral infections.
- And Immunoglobulin A (IgA) provides protection to the respiratory and gastrointestinal tracts against any infection.
The Premas protein-based VLP (Virus like particle) vaccine works in a way that it generates triple layer of protection against the SARS CoV-2 virus Spike, Membrane, and Envelope targets. At normal to high doses, the vaccine candidate is also not harmful, efficient, and well tolerated also it generates high titres of neutralizing antibodies. Premas’ proprietary D-CryptTM technology is used to build the VLP, which is highly expansible and can be generated in large quantities.
COVID-19 is currently the most known problem faced by people around the world, and every country is looking for a reliable vaccine to save its people. In this situation, Oramed and Premas Biotech producing an efficient oral vaccine is a huge progress for them. This is possibly the reason behind the rise in ORMT stock price.