Navigation Links
Oramed Pharmaceuticals Announces Reverse Stock Split
Date:1/22/2013

JERUSALEM, January 22, 2013 /PRNewswire/ --

Oramed Pharmaceuticals Inc. (OTCQB:ORMP) (http://www.oramed.com), a developer of oral drug delivery systems, announced today that its previously announced one for twelve reverse stock split has become effective. As of the open of business on January 23, 2013, the shares of Oramed will be trading on a reverse split-adjusted basis on the OTCQB Market under the symbol "ORMPD," which replaces the previous symbol "ORMP" for the next 20 business days. Oramed effected the reverse stock split in order to help it meet the qualifications for listing its shares on the Nasdaq Capital Market.  

The reverse split reduces the number of shares of Oramed's authorized shares of common stock from approximately 200,000,000 to approximately 16,666,667 and outstanding shares common stock from approximately 86,505,020 to approximately 7,209,652. The exercise price and the number of shares of common stock issuable under Oramed's outstanding warrants and options have been proportionately adjusted to reflect the reverse stock split. Fractional shares created as a result of the stock split will be rounded up to the next whole share.

 "We are taking steps to move our company forward on many fronts and this reverse stock split puts us closer to our goal of up-listing to a major market in the U.S.," commented Oramed CEO, Nadav Kidron .

About Oramed Pharmaceuticals

Oramed Pharmaceuticals is a technology pioneer in the field of oral delivery solutions for drugs and vaccines currently delivered via injection. Established in 2006, Oramed's technology is based on over 30 years of research by top research 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) currently approaching FDA-approved Phase 2 clinical trials, and with its oral exenatide capsule (ORMD-0901; a GLP-1 analog), currently approaching Phase 1b/2a trials. The company's corporate and R&D headquarters are based in Jerusalem.  

The company's fact sheet can be viewed here.

For more information, the content of which is not part of this press release, please visit  http://www.oramed.com

Forward-looking statements: This press release contains forward-looking statements. For example, we are using forward-looking statements when we discuss how the reverse stock split puts us closer to our goal of up-listing to a major market in the U.S. 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 difficulties or delays in obtaining approval for the listing of our shares on  Nasdaq, 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
Aviva Sherman
Cell: +972-54-792-4438
Office: +972-2-566-0001       
Email: aviva@oramed.com 



'/>"/>
SOURCE Oramed Pharmaceuticals Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Oramed Pharmaceuticals Granted 2nd Patent in New Zealand; 3rd Patent for Core Technology on Oral Delivery of Proteins
2. Todays Research on Mylan and Watson Pharmaceuticals: One Drug Makers Sorrow is Another Ones Joy
3. Biscayne Pharmaceuticals Closes $1.5 Million Financing To Advance Recent Discoveries Of Pioneering Endocrine Drug Researcher
4. UPM Pharmaceuticals Enhances its Pre-Formulation Capabilities
5. Biosim Pharmaceuticals, Manufacturers of Generic ACTHAR, to Participate at Biotech Showcase 2013
6. Rafarma Pharmaceuticals, Inc. Achieves Full Certification
7. Auxilium Pharmaceuticals, Inc. to Present At The Oppenheimer 23rd Annual Growth Conference
8. Inovio Pharmaceuticals Announces Positive Interim Results in Phase II Leukemia Trial
9. Gallus BioPharmaceuticals Announces Appointment of Senior Baxter Executive as Chief Commercial Officer
10. Ampio Pharmaceuticals, Inc. (AMPE) announces appointment of Josh Disbrow as Chief Operating Officer effective December 15, 2012
11. Inovio Pharmaceuticals Cytomegalovirus (CMV) Synthetic Vaccine Constructs Generate Strong and Broad T-Cell Responses in Preclinical Study
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... a leading provider of patient support solutions, has announced the ... which will launch this week. The VMS CNEs will address ... enhance the patient care experience by delivering peer-to-peer education programs ... to help women who have been diagnosed and are being ... ...
(Date:10/11/2017)... , ... October 11, 2017 , ... ... the implantation and pregnancy rates in frozen and fresh in vitro fertilization ... progesterone and maternal age to IVF success. , After comparing the results from ...
(Date:10/10/2017)... Angeles, CA (PRWEB) , ... ... ... Inc., a development-stage cancer-focused pharmaceutical company advancing targeted antibody-drug conjugate (ADC) therapeutics, ... uses of targeted HPLN (Hybrid Polymerized Liposomal Nanoparticle), a technology developed in ...
(Date:10/10/2017)... DALLAS , Oct. 10, 2017 International research firm ... IoT Strategy, will speak at the TMA 2017 Annual Meeting , ... key trends in the residential home security market and how smart safety ... ... "The ...
Breaking Biology Technology:
(Date:3/24/2017)... The Controller General of Immigration from Maldives Mr. Mohamed Anwar ... prestigious international IAIR Award for the most innovative high security ePassport and ... ... Maldives Immigration Controller General, Mr. Mohamed ... the right) have received the IAIR award for the "Most innovative high ...
(Date:3/23/2017)... The report "Gesture Recognition and Touchless Sensing Market by Technology (Touch-based and ... 2022", published by MarketsandMarkets, the market is expected to be worth USD 18.98 ... Continue Reading ... ...      ...
(Date:3/22/2017)... , March 21, 2017   Neurotechnology ... object recognition technologies, today announced the release of ... (SDK), which provides improved facial recognition using up ... on a single computer. The new version uses ... improve accuracy, and it utilizes a Graphing Processing ...
Breaking Biology News(10 mins):