Oramed Pharmaceuticals Files Q2 2024 10-Q

TL;DR

Oramed Pharma filed its 10-Q for Q2 2024. All systems go from NY HQ.

AI Summary

Oramed Pharmaceuticals Inc. filed its quarterly report for the period ended June 30, 2024. The company, incorporated in Delaware, reported its financial status and business operations. Its principal executive offices are located at 1185 Avenue of the Americas, New York, NY.

Why It Matters

This filing provides investors with an update on Oramed Pharmaceuticals' financial health and operational progress during the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new disclosures.

Key Players & Entities

• ORAMED PHARMACEUTICALS INC. (company) — Registrant
• June 30, 2024 (date) — Quarterly period end date
• Delaware (jurisdiction) — State of incorporation
• 1185 Avenue of the Americas, Third Floor, New York, NY 10036 (address) — Principal executive offices
• 001-35813 (filing_id) — Commission file number

FAQ

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 3.759 to $1.00. Unless indicated otherwise by the cont

Filing Documents

• ea0210443-10q_oramed.htm (10-Q) — 521KB
• ea021044301ex10-1_oramed.htm (EX-10.1) — 82KB
• ea021044301ex10-2_oramed.htm (EX-10.2) — 76KB
• ea021044301ex31-1_oramed.htm (EX-31.1) — 10KB
• ea021044301ex31-2_oramed.htm (EX-31.2) — 10KB
• ea021044301ex32-1_oramed.htm (EX-32.1) — 4KB
• ea021044301ex32-2_oramed.htm (EX-32.2) — 3KB
• 0001213900-24-068992.txt ( ) — 3422KB
• ormp-20240630.xsd (EX-101.SCH) — 33KB
• ormp-20240630_cal.xml (EX-101.CAL) — 34KB
• ormp-20240630_def.xml (EX-101.DEF) — 160KB
• ormp-20240630_lab.xml (EX-101.LAB) — 309KB
• ormp-20240630_pre.xml (EX-101.PRE) — 164KB
• ea0210443-10q_oramed_htm.xml (XML) — 351KB

- FINANCIAL

ITEM 1 - FINANCIAL 1

- MANAGEMENT'S

ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 15

- QUANTITATIVE

ITEM 3 - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 21

- CONTROLS

ITEM 4 - CONTROLS AND PROCEDURES 21 PART II - OTHER INFORMATION 21

- UNREGISTERED

ITEM 2- UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 21

- EXHIBITS

ITEM 6 - EXHIBITS 22 As used in this Quarterly Report on Form 10-Q, the terms "we," "us," "our," "Oramed" and the "Company" mean Oramed Pharmaceuticals Inc. and our wholly-owned subsidiaries, unless otherwise indicated. All dollar amounts refer to U.S. Dollars unless otherwise indicated. On June 30, 2024, the exchange rate between the New Israeli Shekel, or NIS, and the dollar, as quoted by the Bank of Israel, was NIS 3.759 to $1.00. Unless indicated otherwise by the context, statements in this Quarterly Report on Form 10-Q that provide the dollar equivalent of NIS amounts or provide the NIS equivalent of dollar amounts are based on such exchange rate. i Cautionary Statement Regarding Forward-Looking Statements The statements contained in this Quarterly Report on Form 10-Q that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws and the Israeli securities law. Words such as "expects," "anticipates," "intends," "plans," "planned expenditures," "believes," "seeks," "estimates," "considers" and similar expressions or variations of such words are intended to identify forward-looking Report on Form 10-Q. Additionally, statements concerning future matters are forward-looking statements. We remind readers that forward-looking that could cause the actual results, performance, levels of activity, or our achievements, or industry results, to be materially different from any future results, performance, levels of activity, or our achievements, or industry results, expressed or implied by such forward-looking

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

- FINANCIAL STATEMENTS

ITEM 1 - FINANCIAL STATEMENTS ORAMED PHARMACEUTICALS INC. INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2024 TABLE OF CONTENTS Page CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS: Balance sheets 2 3 4 5

Notes to financial statements

Notes to financial statements 6-20 1 ORAMED PHARMACEUTICALS INC. INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS U.S. Dollars in thousands (except share and per share data) (UNAUDITED) June 30, December 31, 2024 2023 Assets CURRENT ASSETS: Cash and cash equivalents $ 84,753 $ 9,055 Short-term deposits 1,778 95,279 Investments at fair value 66,206 57,713 Prepaid expenses and other current assets 533 537 Total current assets 153,270 162,584 LONG-TERM ASSETS: Long-term deposits 2 7 Investments at fair value 23,723 51,035 Marketable securities 2,345 1,807 Other non-marketable equity securities 3,524 3,524 Amounts funded in respect of employee rights upon retirement 28 27 Property and equipment, net 765 873 Operating lease right-of-use assets 566 694 Total long-term assets 30,953 57,967 Total assets $ 184,223 $ 220,551 Liabilities and stockholders' equity CURRENT LIABILITIES: Accounts payable and accrued expenses $ 3,483 $ 1,609 Short-term borrowings - 51,013 Payable to related parties - 325 Operating lease liabilities 250 267 Total current liabilities 3,733 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 236 342 Other liabilities 60 63 Total long-term liabilities 4,336 4,444 Equity EQUITY ATTRIBUTABLE TO COMPANY'S STOCKHOLDERS: Common stock, $ 0.012 par value ( 60,000,000 authorized shares; 40,628,924 and 40,338,979 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively) 488 485 Additional paid-in capital 323,385 320,892 Accumulated deficit ( 146,808 ) ( 157,556 ) Total stockholders' equity 177,065 163,821 Non-controlling interests ( 911 ) ( 928 ) Total equity 176,154 162,893 Total liabilities and equity $ 184,223 $ 220,551 The accompanying notes are an in

financial statements disclosures

financial statements disclosures. 8 ORAMED PHARMACEUTICALS INC. NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS U.S. Dollars in thousands (except share and per share data) (UNAUDITED) NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (continued): d. Fair value The Company measures fair value and discloses fair value measurements for financial assets and liabilities. Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, the guidance establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on i

View Full Filing

View this 10-Q filing on SEC EDGAR