Press release
Oramed Pharmaceuticals Inc. Announces Proposed Public Offering of Common Stock
NEW YORK, Feb. 26, 2020 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (NASDAQ: ORMP), (TASE: ORMP), a clinical-stage pharmaceutical company focused on the
About this update from Oramed Pharmaceuticals Inc.
[{"type":"text","content":"NEW YORK, Feb. 26, 2020 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (NASDAQ: ORMP), (TASE: ORMP), a clinical-stage pharmaceutical company focused on the development of oral drug delivery systems, today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. All of the shares in the underwritten public offering are to be sold by Oramed. Oramed intends to grant the underwriters a 45-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering at the public offering price, less the underwriting discount.\nThe Company intends to use the net proceeds of the offering for its anticipated Phase 3 clinical trial in ORMD-0801 (Oral Insulin) and for other clinical trials and research and development activities as well as for general corporate purposes. \nNational Securities Corporation, a wholly owned subsidiary of National Holdings Corporation, is acting as the sole book running manager for the offering. \nA.G.P./Alliance Global Partners is acting as financial advisor for the proposed offering.\nThe shares of common stock are being offered by Oramed pursuant to its shelf registration statement on Form S-3 (File No. 333-236194) previously filed and declared effective by the Securities and Exchange Commission (the \"SEC\") on February 10, 2020. The offering may be made only by means of a prospectus supplement and accompanying prospectus. Copies of the preliminary prospectus supplement and accompanying prospectus, when available, may be obtained from National Securities Corporation, Attn: Charles Wanyama, 200 Vesey Street, 25th Floor, New York, New York 10281, telephone: (212) 417-3634, or by email at [email protected]; or on the SEC's website at http://www.sec.gov.\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Oramed Pharmaceuticals\nOramed Pharmaceuticals is a platform technology pioneer in the field of oral delivery solutions for drugs currently delivered via injection. Established in 2006, with offices in New York...