Oramed to review strategic alternatives, clouding path forward for oral insulin

10 Feb 2023

Phase 3Phase 2

Oramed Pharmaceuticals will look at strategic alternatives after the biotech’s attempt at creating an insulin pill faltered in a Phase III last month. The New York biotech is still mining through the data from the Phase III of ORMD-0801, the failure of which tanked the stock by 70% in January. But to move forward, the board and executives are taking a fine look at the pipeline and “conducting a comprehensive review of strategic alternatives” that could include selling the business or its assets. Oramed adds to a growing list of biotechs seeking new routes in the wake of a tightening financial market and bad clinical readouts, leading many to lay off staff, close the doors or sell. Oramed said Thursday it’s not working on a defined timetable, and the company has no plans to share any more details until a transaction has been entered, if at all. The company is also investigating ORMD-0801 for nonalcoholic steatohepatitis, or NASH, which is marked by a buildup of liver fat and has been a difficult R&D field for biopharmas to crack. Also in the pipeline is an oral GLP-1, ORMD-0901, for type 2 diabetes. Novo Nordisk’s semaglutide (sold under Ozempic, Rybelsus and Wegovy brands) and Eli Lilly’s Mounjaro have both consumed headlines in recent months for their popular rise in use for obesity.

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Organizations

Oramed Pharmaceuticals, Inc.

Novo Nordisk A/S

Indications

MASHMAFLDDiabetes Mellitus, Type 2

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Targets

Drugs

Insulin (Oramed)Glucagon-Like-Peptide-1(Original Biomedicals)Exenatide oral(Oramed Pharmaceuticals, Inc.)

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