NEW YORK, Nov. 8, 2021 /PRNewswire/ -- Oramed
Pharmaceuticals Inc. ("Oramed" or the "Company") (Nasdaq:
ORMP) (TASE: ORMP) (www.oramed.com), a clinical-stage
pharmaceutical company focused on the development of oral drug
delivery systems, today announced that it has closed its previously
announced registered direct offering of 2,000,000 shares of the
Company's common stock, at a purchase price of $25 per share,
priced at-the-market under Nasdaq Rules.
H.C. Wainwright & Co. acted as the exclusive placement
agent for the offering.
The gross proceeds to Oramed from this offering were $50
million, before deducting the placement agent's fees and other
offering expenses. Oramed intends to use the net proceeds from this
offering for working capital and general corporate purposes.
A shelf registration statement (Registration No. 333-257926)
relating to the offered shares of common stock was filed with the
Securities and Exchange Commission ("SEC") on July 15, 2021 and was declared effective on
July 26, 2021. The offering of the
shares of common stock has been made only by means of a prospectus,
including a prospectus supplement, forming a part of an effective
registration statement. A final prospectus supplement and
accompanying prospectus relating to the shares of common stock
being offered have been filed with the SEC. Electronic copies of
the final prospectus supplement and accompanying prospectus may be
obtained on the SEC's website at http://www.sec.gov
or by contacting H.C. Wainwright & Co., LLC
at 430 Park Avenue, 3rd Floor, New York, NY 10022,
by phone at: (212) 856-5711 or
e-mail at: placements@hcwco.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Oramed Pharmaceuticals
Oramed Pharmaceuticals Inc. (Nasdaq/TASE: ORMP) is a
platform technology pioneer in the field of oral delivery solutions
for drugs currently delivered via injection. Established in 2006,
with offices in the United States and Israel, Oramed
has developed a novel Protein Oral Delivery (POD™)
technology. Oramed is seeking to transform the treatment of
diabetes through its proprietary lead candidate, ORMD-0801,
which is being evaluated in two pivotal Phase 3 studies and has the
potential to be the first commercial oral insulin
capsule for the treatment of diabetes. In addition,
Oramed is developing an oral GLP-1 (Glucagon-like peptide-1) analog
capsule.
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
the use of proceeds from the offering. 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 SEC.
Company Contact
Joshua Hexter
+1-844-9-ORAMED
josh@oramed.com
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SOURCE Oramed Pharmaceuticals Inc.