JERUSALEM, September 14, 2010 /PRNewswire-FirstCall/ — Oramed Pharmaceuticals Inc. (OTCBB: ORMP) announced today successful results in an exploratory clinical trial testing the effectiveness of its oral insulin capsule (ORMD-0801) in Type I diabetes patients suffering from uncontrolled diabetes.
In parallel to Oramed’s main focus in developing an oral insulin capsule for management of Type II diabetes the company is exploring an application of its oral insulin capsule toward cases of uncontrolled Type I diabetics. Unstable or labile diabetes is characterized by recurrent, unpredictable and dramatic blood glucose swings often linked with irregular hyperglycemia and sometimes serious hypoglycemia affecting Type I diabetes patients. This newly completed exploratory study was a proof of concept study for defining a novel indication for ORMD-0801. The encouraging results justify further clinical development of ORMD-0801 capsule application toward management of uncontrolled diabetes.
Despite the availability of modern insulin injection devices with needles that are so sharp and thin that practically no injection pain takes place, it is still the dream of patients with diabetes to, for example, swallow a tablet with insulin. This is not associated with any pain and would allow more discretion. Therefore, availability of oral insulin would not only ease insulin therapy, it would certainly increase compliance. However, despite numerous attempts to develop such a “tablet” in the past 85 years, still no oral insulin is commercially available.
Oramed Pharmaceuticals (OTCBB: ORMP) (http://www.oramed.com), is a technology pioneer in the field of oral delivery solutions for drugs and vaccines presently delivered via injection. Oramed is seeking to revolutionize the treatment of diabetes through its patented flagship product, an orally ingestible insulin capsule (ORMD-0801), which recently announced promising results from a phase 2b clinical trial.
Established in 2006, Oramed’s technology is based on over 25 years of research by top research scientists at Jerusalem’s Hadassah Medical Center. For over two decades, scientists at Hadassah Hospital’s Diabetes Unit, led by Professor Hanoch Bar-On, worked to develop a technology designed to enable the oral administration of insulin to diabetics. ’ Miriam Kidron, and served as a director until his untimely death in 2006.
Stephen Bernard, AP Business Writer
More bad news on home sales sends stocks lower
Stocks retreat as weak durable goods orders, housing sales add to concerns about economy
NEW YORK (AP) — Stocks retreated again after another disappointing report on housing and weak durable goods orders brought more gloom about the economy.
The Dow Jones industrial average fell more than 50 points in morning trading Wednesday following news that sales of new homes fell last month to the lowest level on record. It was the latest indication that home sales are stagnating after the expiration of a homebuyer tax credit this spring.
A separate report from the Commerce Department showed that durable goods orders grew only slightly last month, falling shy of expectations and disappointing investors who had been hoping that the U.S. manufacturing sector would continue to pick up.
The newest signs that the economic recovery is sputtering led investors to move money into the relative safety of Treasurys, sending their yields lower. The yield on the 10-year Treasury note is now the lowest it’s been since January 2009, when the stock market was heading toward its lowest level in 12 years, and the yield on the two-year note is at a record low.
Yesterday’s Top Performing Small Cap Stock:
Concordis Group, Inc. (Pink Sheets: CNGI)
Concordis Group, Inc. was a SmallCapVoice.com top performer closing up over 18% on trading volume of 195,400 shares.
Aug. 25, 2010 (Business Wire) — SmallCapVoice.com, Inc. announced today that a new audio interview featuring Oramed Pharmaceuticals Inc. (OTCBB:ORMP) (http://www.oramed.com), a developer of oral delivery systems, is now available. The interview can be heard at http://smallcapvoice.com/blog/8-24-10-audio-interview-with-oramed-pharmaceuticals-inc-otcbb-ormp.
Podcast: Download (Duration: 11:48 — 10.8MB) | Embed
Nadav Kidron, Oramed’s CEO called into SmallCapVoice.com to explain that Oramed Pharmaceuticals Inc. (OTCBB: ORMP) is a technology pioneer in the field of oral delivery solutions for drugs and vaccines presently delivered via injection. Oramed is seeking to revolutionize the treatment of diabetes through its patented flagship product, an orally ingestible insulin capsule currently in phase 2 clinical trials. Established in 2006, Oramed’s technology is based on over 25 years of research by top research scientists at Jerusalem’sHadassah Medical Center. The Company’s corporate and R&D headquarters are based in Jerusalem.
Stocks rise on earnings, economic reports
Stocks climb after Home Depot, Wal-Mart report profit; wholesale prices inch higher
Stephen Bernard, AP Business Writer
NEW YORK (AP) — Investors regained their enthusiasm for stocks Tuesday, sending prices sharply after reports showed a slight improvement in the housing market and a big jump in industrial production.
Investors were also encouraged by earnings from Home Depot Inc. and Wal-Mart Stores Inc. that were better than expected. The Dow Jones industrial average rose 144 points in midday trading. All the major stock indexes were up more than 1 percent.
Economic reports in recent months have almost exclusively pointed to slowing growth. Weakening data has led some investors to worry that the country could fall back into recession. The data Tuesday provided a slice of optimism and some reassurance that the economy continues to expand, albeit slowly.
“The data and earnings should ease people’s concerns about a double-dip” recession, said Peter Bible, a partner at EisnerAmper. “We’re anemic; we’re slow; we’re crawling, but we’re not going backward.”
Yesterday’s Top Performing Small Cap Stock:
Oramed Pharmaceuticals Inc. (OTCBB: ORMP)
Oramed Pharmaceuticals Inc. was a SmallCapVoice.com top performer closing up over 5% on trading volume of 7,483 shares.