Oramed Pharmaceuticals Inc. (NASDAQ: ORMP) (TASE: ORMP), a clinical-stage pharmaceutical company focused on the development of oral drug delivery systems, declared that its Chinese partner, Hefei Tianhui Incubator of Technologies Co., Ltd. (“HTIT”), has reached the significant regulatory milestone of approval of an investigational new drug application (“IND”) for two doses of its oral insulin (ORMD-0801). The approval of the IND by the Center For Drug Evaluation of the China National Medical Products Administration (“NMPA”, formerly the CFDA) of the oral insulin paves the way for the start of clinical trials in China.
Oramed CEO Nadav Kidron stated “We are pleased that the Chinese regulatory authorities have approved the IND, as it sets a clear path forward for approval of oral insulin in China, bringing oral insulin closer to becoming a reality in the Chinese market,”.
Oramed Pharmaceuticals Inc. (NASDAQ: ORMP) changed 4.63% to recent value of $3.39. The stock transacted 1026807 shares during most recent day however it has an average volume of 37.11K shares. It spotted trading -60.54% off 52-week high price. On the other end, the stock has been noted 21.94% away from the low price over the last 52-weeks.
Its earnings per share (EPS) expected to touch remained -8.60% for this year.
The company has 17.48M of outstanding shares and 14.16M shares were floated in the market. According to the most recent quarter its current ratio was 7.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of 5.13% from the mean of 20 days, 3.57% from mean of 50 days SMA and performed -24.87% from mean of 200 days price. Company’s performance for the week was 2.11%, 7.96% for month and YTD performance remained 13.00%.