Oramed Sees Surge in Short Interest Amidst Mixed News on Oral Insulin
Oramed Pharmaceuticals Inc. has seen a significant surge in short interest, with over 25% increase to 280,292 shares, representing approximately 0.65% of the float. This comes amidst a mixed bag of news, including a potential breakthrough in oral insulin and a recent analysis advising urgent action for shareholders.
The company's joint venture, OraTech Pharmaceuticals, is planning Phase-3 studies in the US for oral insulin, which could revolutionize diabetes treatment. Meanwhile, Oramed is considering a $0.25 per share cash dividend and plans to give shareholders a significant stake in OraTech, alongside a planned IPO of the joint venture. The approval process for oral insulin in China is also underway, promising future licensing fees.
However, the stock has had only 14 green trading days in the last 30, with a nearly 19% drop since the beginning of the year. Despite management's efforts, Oramed faces investor skepticism. A recent analysis from October 19th suggests urgent action is needed for Oramed shareholders, advising whether to buy or sell. Oramed received $13 million from Scilex Holding for warrant repurchase, with potential for another $14 million by year-end. The company's upcoming quarterly report on November 14th is seen as a potential turning point.
Oramed Pharmaceuticals' future hinges on the success of its oral insulin and the upcoming quarterly report. While the potential breakthrough and financial infusions provide optimism, the stock's performance and investor skepticism warrant close scrutiny.
Read also:
- American teenagers taking up farming roles previously filled by immigrants, a concept revisited from 1965's labor market shift.
- Weekly affairs in the German Federal Parliament (Bundestag)
- Landslide claims seven lives, injures six individuals while they work to restore a water channel in the northern region of Pakistan
- Escalating conflict in Sudan has prompted the United Nations to announce a critical gender crisis, highlighting the disproportionate impact of the ongoing violence on women and girls.
