JERUSALEM, July 5, 2017 /PRNewswire/ -- Oramed
Pharmaceuticals Inc. (NASDAQ: ORMP) (www.oramed.com),
a clinical-stage pharmaceutical company focused on the development
of oral drug delivery systems, announced today that it has received
approval from the Israel Securities Authority to dual-list its
common stock on the Tel Aviv Stock Exchange (TASE). Oramed common
stock will commence trading on the TASE on July 12, 2017 under the ticker ORMP. Based
on the current market capitalization of the Company, it is expected
that Oramed will be included in the TA SME-60 index.
Oramed common stock will continue to be listed and traded on
the NASDAQ Capital Markets and the Company will continue to comply
with the regulations of the U.S. Securities and Exchange
Commission. Per the TASE's listing requirements and Israel's Dual Listing Law, U.S. listed
companies may dual-list on the TASE without any additional
regulatory reporting or requirements.
"We believe dual-listing on the TASE will provide many
benefits to our Company and our shareholders. An expanded investor
pool including Israel's largest
institutional investors, eligibility for being included in
Israel's index funds, and expanded
trading days and hours to serve global investors especially those
in Europe and Asia, are all factors that we believe will
contribute to superior trading, liquidity and valuation for Oramed
stock," stated Oramed CEO Nadav
Kidron.
About Oramed Pharmaceuticals
Oramed Pharmaceuticals is a platform technology pioneer in
the field of oral delivery solutions for drugs currently delivered
via injection. Established in 2006, Oramed's POD™
technology is based on over 30 years of research by scientists at
Jerusalem's Hadassah Medical
Center. Oramed is seeking to revolutionize the treatment of
diabetes through its proprietary flagship product, an orally
ingestible insulin capsule (ORMD-0801). The
Company completed multiple Phase II clinical trials of ORMD-0801
under an Investigational New Drug application with the U.S. Food
and Drug Administration. In addition, Oramed is developing an oral
GLP-1 analog capsule (ORMD-0901).
For more information, the content of which is not part of
this press release, please visit www.oramed.com
Forward-looking statements: This press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 and other
federal securities laws. Words such as "expects," "anticipates,"
"intends," "plans," "believes," "seeks," "estimates" and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, we are using
forward-looking statements when we discuss the expected inclusion
of our stock in the TA SME-60 index, or revolutionizing the
treatment of diabetes with our products. 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 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;
and finally that products may harm recipients, all of which 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. For a more detailed description of the risks and
uncertainties affecting Oramed, reference is made to Oramed's
reports filed from time to time with the Securities and Exchange
Commission.
Company Contact
Oramed
Pharmaceuticals
Josh
Hexter
Office: +972-2-566-0001 ext.
2
US: 1-718-831-2512 ext. 2
Email:
josh@oramed.com
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SOURCE Oramed Pharmaceuticals Inc.