Oramed Pharmaceuticals Inc. Files 10-Q for Period Ended March 31, 2024

TL;DR

<b>Oramed Pharmaceuticals Inc. filed its quarterly report for Q1 2024, confirming its status as a smaller reporting company.</b>

AI Summary

ORAMED PHARMACEUTICALS INC. (ORMP) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Oramed Pharmaceuticals Inc. filed a 10-Q quarterly report for the period ended March 31, 2024. The company is registered in Delaware with IRS number 98-0376008. Its principal executive offices are located at 1185 Avenue of the Americas, Third Floor, New York, NY 10036. Oramed Pharmaceuticals Inc. is listed on The Nasdaq Capital Market and the Tel Aviv Stock Exchange under the symbol ORMP. The company has elected to be treated as a non-accelerated filer and a smaller reporting company.

Why It Matters

For investors and stakeholders tracking ORAMED PHARMACEUTICALS INC., this filing contains several important signals. This filing provides an update on the company's financial performance and operational status for the first quarter of 2024. Investors can use this report to assess the company's financial health, strategic direction, and compliance with SEC regulations.

Risk Assessment

Risk Level: low — ORAMED PHARMACEUTICALS INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain significant new financial data or strategic shifts that would indicate a change in risk profile.

Analyst Insight

Monitor future filings for updates on clinical trial progress and financial performance, particularly revenue and net income trends.

Key Numbers

• 20240331 — Quarterly period ended (Form 10-Q)
• 20240509 — Filed as of date (Form 10-Q)
• 001-35813 — Commission file number (Form 10-Q)
• 98-0376008 — IRS Number (Form 10-Q)

Key Players & Entities

• ORAMED PHARMACEUTICALS INC. (company) — Filer name
• 0001176309 (company) — Central Index Key
• DE (company) — State of Incorporation
• 1185 Avenue of the Americas, Third Floor, New York, NY 10036 (company) — Business Address
• 001-35813 (company) — Commission file number
• ORMP (company) — Trading symbol
• The Nasdaq Capital Market (company) — Exchange
• Tel Aviv Stock Exchange (company) — Exchange

FAQ

Industry Context

Oramed Pharmaceuticals Inc. operates in the pharmaceutical preparations industry, focusing on the development of medical innovations.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze any disclosed risk factors or legal proceedings for potential impacts.
3. Track future SEC filings for updates on clinical trial progress and business developments.

Year-Over-Year Comparison

This filing is a standard quarterly report (10-Q) for the period ended March 31, 2024, and does not represent a change from previous reporting cycles.

Key Financial Figures

• $0.012 — ich registered Common Stock, par value $0.012 ORMP The Nasdaq Capital Market, Tel Avi
• $1.00 — by the Bank of Israel, was NIS 3.681 to $1.00. Unless indicated otherwise by the cont

Filing Documents

• ea0205289-10q_oramed.htm (10-Q) — 495KB
• ea020528901ex10-1_oramed.htm (EX-10.1) — 87KB
• ea020528901ex31-1_oramed.htm (EX-31.1) — 10KB
• ea020528901ex31-2_oramed.htm (EX-31.2) — 9KB
• ea020528901ex32-1_oramed.htm (EX-32.1) — 3KB
• ea020528901ex32-2_oramed.htm (EX-32.2) — 3KB
• 0001213900-24-041364.txt (&nbsp;) — 3190KB
• ormp-20240331.xsd (EX-101.SCH) — 30KB
• ormp-20240331_cal.xml (EX-101.CAL) — 34KB
• ormp-20240331_def.xml (EX-101.DEF) — 160KB
• ormp-20240331_lab.xml (EX-101.LAB) — 304KB
• ormp-20240331_pre.xml (EX-101.PRE) — 165KB
• ea0205289-10q_oramed_htm.xml (XML) — 238KB

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS: Balance sheets 2 of comprehensive income (loss ) 3 of changes in stockholders' equity 4 of cash flows 5 Notes to financial statements 6-17 1 ORAMED PHARMACEUTICALS INC. INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS U.S. Dollars in thousands (except share and per share data) (UNAUDITED) March 31, December 31, 2024 2023 Assets CURRENT ASSETS: Cash and cash equivalents $ 18,576 $ 9,055 Short-term deposits 80,285 95,279 Investments at fair value 77,733 57,713 Prepaid expenses and other current assets 501 537 Total current assets 177,095 162,584 LONG-TERM ASSETS: Long-term deposits 7 7 Investments at fair value 19,544 51,035 Marketable securities 2,026 1,807 Other non-marketable equity securities 3,524 3,524 Amounts funded in respect of employee rights upon retirement 29 27 Property and equipment, net 819 873 Operating lease right-of-use assets 608 694 Total long-term assets 26,557 57,967 Total assets $ 203,652 $ 220,551 Liabilities and stockholders' equity CURRENT LIABILITIES: Accounts payable and accrued expenses $ 1,267 $ 1,609 Short-term borrowings 32,034 51,013 Payable to related parties 1 325 Operating lease liabilities 254 267 Total current liabilities 33,556 53,214 LONG-TERM LIABILITIES: Long-term deferred revenues 4,000 4,000 Employee rights upon retirement 29 28 Provision for uncertain tax position 11 11 Operating lease liabilities 272 342 Other liabilities 63 63 Total long-term liabilities 4,375 4,444 COMMITMENTS (note 3) Equity EQUITY ATTRIBUTABLE TO COMPANY'S STOCKHOLDERS: Common stock, $ 0.012 par value ( 60,000,000 authorized shares; 40,519,160 and 40,338,979 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively) 487 485 Additional paid-in capital 322,172 320,892 Accumulated deficit ( 156,020 ) ( 157,556 )

View Full Filing

View this 10-Q filing on SEC EDGAR