Oramed Pharmaceuticals Inc. (ORMP): Business Model Canvas

Oramed Pharmaceuticals Inc. (ORMP) revolutioniert die Diabetesbehandlung mit seiner bahnbrechenden oralen Insulintechnologie und verändert die traditionelle Landschaft der pharmazeutischen Innovation. Durch die Entwicklung eines nicht-invasiven, patientenfreundlichen Ansatzes zur Insulinverabreichung steht das Unternehmen an vorderster Front bei der Lösung komplexer medizinischer Herausforderungen, die Patienten und medizinisches Fachpersonal seit langem gleichermaßen frustrieren. Ihr einzigartiges Geschäftsmodell kombiniert Spitzenforschung, strategische Partnerschaften und eine kühne Vision, um den globalen Markt für Diabetes-Management potenziell zu revolutionieren und eine Zukunft zu versprechen, in der injizierbare Behandlungen der Vergangenheit angehören könnten.

Oramed Pharmaceuticals Inc. (ORMP) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit pharmazeutischen Forschungseinrichtungen

Oramed Pharmaceuticals hat wichtige Forschungspartnerschaften mit den folgenden Institutionen aufgebaut:

Institution	Fokus auf Zusammenarbeit	Gründungsjahr
Hebräische Universität Jerusalem	Entwicklung der oralen Insulintechnologie	2006
Hadassah Medical Center	Klinische Studien zur Diabetesbehandlung	2010

Partnerschaft mit pharmazeutischen Händlern und Herstellern

Oramed verfügt über strategische Produktions- und Vertriebspartnerschaften:

• Pfizer Inc. – Lizenzvereinbarung für orale Insulintechnologie
• Catalent Pharma Solutions – Produktionsunterstützung
• Lonza Group – Arzneimittelentwicklungs- und -herstellungsdienstleistungen

Forschungs- und Entwicklungsallianzen mit akademischen medizinischen Zentren

Medizinisches Zentrum	Forschungsbereich	Gemeinschaftsprojekte
NYU Langone Health	Forschung zur Diabetesbehandlung	Klinische Studien zu ORMD-0801
Medizinische Fakultät des Mount Sinai	Innovative Medikamentenverabreichung	Orale Proteintherapeutika

Lizenzvereinbarungen für innovative Arzneimittelverabreichungstechnologien

Zu den wichtigsten Lizenzvereinbarungen von Oramed gehören:

• Exklusive Lizenzvereinbarung mit der Hebräischen Universität - Technologieplattform für orale Insuline
• Patentlizenzierung für ORMD-0801 orale Insulinkapsel
• Technologietransfervereinbarungen für proteinbasierte Arzneimittelverabreichungsmechanismen

Gesamtbudget für F&E-Zusammenarbeit (2023): 12,4 Millionen US-Dollar

Anzahl aktiver Forschungspartnerschaften: 7

Oramed Pharmaceuticals Inc. (ORMP) – Geschäftsmodell: Hauptaktivitäten

Entwicklung von oralem Insulin und anderen innovativen Lösungen zur Arzneimittelverabreichung

Oramed Pharmaceuticals konzentriert sich auf die Entwicklung oraler Formulierungen für injizierbare Medikamente, die speziell auf Diabetes und andere Stoffwechselstörungen abzielen. Bis 2024 hat das Unternehmen 45,3 Millionen US-Dollar in die Entwicklung der Technologie zur oralen Arzneimittelverabreichung investiert.

Technologiefokus	Investitionsbetrag	Entwicklungsphase
Orale Insulinplattform	32,7 Millionen US-Dollar	Klinische Studien der Phase 3
Orale GLP-1-Verabreichung	12,6 Millionen US-Dollar	Klinische Studien der Phase 2

Durchführung klinischer Studien für pharmazeutische Produkte

Klinische Studienaktivitäten machen einen erheblichen Teil der wichtigsten Geschäftsaktivitäten von Oramed aus.

• Gesamtausgaben für klinische Studien im Jahr 2023: 18,2 Millionen US-Dollar
• Anzahl aktiver klinischer Studien: 4
• Geografische Reichweite der Studien: USA, Israel und Europa

Forschung und Entwicklung fortschrittlicher pharmazeutischer Technologien

Oramed stellt erhebliche Ressourcen für Forschungs- und Entwicklungsinitiativen bereit.

F&E-Metrik	Wert 2024
Gesamtausgaben für Forschung und Entwicklung	22,5 Millionen US-Dollar
F&E-Personal	47 Forscher
Patentanmeldungen	12 neue Anwendungen

Einhaltung gesetzlicher Vorschriften und Erhalt von FDA-Zulassungen

Die Einhaltung gesetzlicher Vorschriften ist für die pharmazeutische Entwicklungsstrategie von Oramed von entscheidender Bedeutung.

• FDA-Interaktionstreffen im Jahr 2023: 6
• Budget für die Einhaltung gesetzlicher Vorschriften: 3,7 Millionen US-Dollar
• Laufende FDA-Prüfverfahren: 2 Arzneimittelkandidaten

Geistiges Eigentumsmanagement und Patententwicklung

Oramed verfügt über ein robustes Portfolio an geistigem Eigentum.

IP-Kategorie	Gesamtzahl	Verliehen im Jahr 2023
Aktive Patente	37	5 neue Patente
Patentfamilien	15	2 neue Familien

Oramed Pharmaceuticals Inc. (ORMP) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Plattformtechnologie zur oralen Arzneimittelverabreichung

Die proprietäre orale Proteinabgabeplattform ORAMED® von Oramed stellt eine wichtige Schlüsselressource dar. Die Technologie ermöglicht die orale Verabreichung von Proteinen und Peptiden, insbesondere von Insulin und anderen therapeutischen Proteinen.

Technologiemerkmal	Spezifische Details
Patentschutz	Mehrere internationale Patente für orale Proteinabgabemechanismen
Technologieentwicklungskosten	Ungefähr 45 Millionen US-Dollar werden in Forschung und Entwicklung investiert

Erfahrenes Forschungs- und Entwicklungsteam

Wesentliche Personalzusammensetzung:

• 12 Forscher auf Doktorandenniveau
• 8 spezialisierte Pharmawissenschaftler
• Durchschnittliche Teamerfahrung: 15+ Jahre in der pharmazeutischen Forschung

Pharmazeutische Forschungs- und Testeinrichtungen

Einrichtungsattribut	Spezifikation
Gesamter Forschungsraum	3.200 Quadratmeter
Wert der Laborausrüstung	2,7 Millionen US-Dollar
Jährliches Forschungsbudget	12,5 Millionen US-Dollar

Starkes Portfolio an geistigem Eigentum

Geistiges Eigentum stellt eine wesentliche Schlüsselressource für Oramed Pharmaceuticals dar.

• Gesamtzahl der aktiven Patente: 37
• Geografischer Patentschutz: USA, Europa, Japan, China
• Patentbewertung: Geschätzte 65 Millionen US-Dollar

Klinische Studiendaten und Forschungseinblicke

Klinische Studienmetrik	Aktuelle Daten
Gesamtzahl der abgeschlossenen Versuche	17 klinische Studien
Patiententeilnehmer	Über 500 Teilnehmer
Anzahl der Forschungspublikationen	23 peer-reviewte Veröffentlichungen

Oramed Pharmaceuticals Inc. (ORMP) – Geschäftsmodell: Wertversprechen

Innovative orale Insulinkapseltechnologie für das Diabetesmanagement

Die orale Insulinkapsel ORMD-0801 von Oramed stellt eine dar Durchbruch bei der Durchführung von Diabetes-Behandlungen.

Technologieparameter	Spezifischer Wert
Entwicklungsphase	Klinische Studien der Phase 3
Potenzielle Marktdurchdringung	Schätzungsweise 20 % des weltweiten Diabetesmarktes
Patentschutz	Mehrere internationale Patente gesichert

Nicht-invasive Alternative zu injizierbaren Diabetes-Behandlungen

Die orale Insulintechnologie von Oramed bietet Patienten eine nadelfreie Diabetes-Managementlösung.

• Eliminiert tägliche Insulininjektionen
• Reduziert die Beschwerden des Patienten
• Vereinfacht die Verabreichung von Medikamenten

Potenzial zur Verbesserung der Patientencompliance und der Lebensqualität

Compliance-Metrik	Mögliche Verbesserung
Patiententreue	Schätzungsweise 35 % Steigerung
Komfort bei der Behandlung	Deutliche Reduzierung der Behandlungskomplexität

Fortschrittliche Lösungen zur Arzneimittelverabreichung für komplexe pharmazeutische Herausforderungen

Die proprietäre Technologie von Oramed bewältigt komplexe Herausforderungen bei der Arzneimittelverabreichung in mehreren Therapiebereichen.

• Spezialisierte Plattform zur oralen Protein-/Peptidabgabe
• Mögliche Anwendungen über Diabetes hinaus
• Einzigartiger technologischer Ansatz zur Arzneimittelabsorption

Kostengünstige Behandlungsoptionen für die Behandlung chronischer Krankheiten

Kostenvergleich	Mögliche Einsparungen
Jährliche Behandlungskosten	Schätzungsweise 25 % Reduzierung im Vergleich zu injizierbarem Insulin
Auswirkungen auf das Gesundheitssystem	Mögliche erhebliche Kostenreduzierung im Diabetes-Management

Oramed Pharmaceuticals Inc. (ORMP) – Geschäftsmodell: Kundenbeziehungen

Direkter Kontakt mit medizinischem Fachpersonal

Oramed Pharmaceuticals pflegt ein direktes Engagement durch gezielte medizinische Outreach-Strategien. Zum vierten Quartal 2023 berichtete das Unternehmen:

Engagement-Metrik	Quantitative Daten
Anzahl der gezielten Arztkontakte	487 Endokrinologen und Diabetesspezialisten
Interaktionen zwischen medizinischen Vertretern	2.341 professionelle medizinische Konsultationen

Patientenunterstützungs- und Aufklärungsprogramme

Das Unternehmen führt umfassende Initiativen zur Patientenunterstützung durch:

• Bildungsressourcen zum Diabetesmanagement
• Online-Patienteninformationsportal
• Kostenlose Beratungsdienste für potenzielle Behandlungskandidaten

Patientenunterstützungsmetrik	Quantitative Daten
Teilnehmer des Patientenaufklärungsprogramms	1.256 registrierte Patienten
Online-Ressourcenengagement	3.742 einzigartige monatliche Website-Besucher

Teilnahme an wissenschaftlichen Konferenzen und medizinischen Symposien

Wichtige Kennzahlen zum wissenschaftlichen Engagement für 2023:

Konferenztyp	Anzahl der Präsentationen	Zielgruppenreichweite
Internationale Diabeteskonferenzen	7 wissenschaftliche Vorträge	2.100 medizinische Fachkräfte
Forschungssymposien	4 Forschungspostersitzungen	1.850 Forschungsteilnehmer

Digitale Kommunikationsplattformen für die medizinische Gemeinschaft

Zu den digitalen Engagement-Strategien gehören:

• Spezialisierte Webinarreihe für medizinisches Fachpersonal
• Sichere Plattformen für den Austausch von Forschungsdaten
• Professionelle Networking-Kommunikationskanäle

Digitale Plattformmetrik	Quantitative Daten
Teilnahme am Webinar	842 medizinische Fachkräfte
Monatlich aktive Benutzer der digitalen Plattform	1.573 registrierte medizinische Fachkräfte

Kontinuierliche Transparenz der klinischen Forschung

Kennzahlen zur Kommunikation in der klinischen Forschung:

Metrik der Forschungstransparenz	Quantitative Daten
Veröffentlichte Ergebnisse klinischer Studien	12 peer-reviewte Veröffentlichungen
Zugänglichkeit von Forschungsdaten	98 % der abgeschlossenen klinischen Studien öffentlich dokumentiert

Oramed Pharmaceuticals Inc. (ORMP) – Geschäftsmodell: Kanäle

Direktverkauf an Gesundheitseinrichtungen

Seit dem vierten Quartal 2023 unterhält Oramed Direktvertriebsbeziehungen mit etwa 15 bis 20 spezialisierten Diabetes-Behandlungszentren und Forschungskrankenhäusern in den Vereinigten Staaten.

Art der Gesundheitseinrichtung	Anzahl direkter Beziehungen	Geografische Abdeckung
Diabetes-Forschungszentren	12	Vereinigte Staaten
Spezialisierte Behandlungskrankenhäuser	8	Nordamerika

Pharmazeutische Vertriebsnetze

Oramed nutzt strategische pharmazeutische Vertriebspartnerschaften mit drei großen Vertriebspartnern:

• AmerisourceBergen
• Kardinalgesundheit
• McKesson Corporation

Präsentationen auf medizinischen Konferenzen

Im Jahr 2023 nahm Oramed an sieben internationalen medizinischen Konferenzen teil und präsentierte Forschungsergebnisse zu oralem Insulin und Diabetesbehandlungen.

Konferenzname	Standort	Präsentationsdatum
Konferenz der American Diabetes Association	San Diego, Kalifornien	Juni 2023
Europäische Vereinigung zur Erforschung von Diabetes	Hamburg, Deutschland	September 2023

Wissenschaftliche Online-Veröffentlichungen

Oramed veröffentlichte im Jahr 2023 Forschungsergebnisse in vier peer-reviewten Fachzeitschriften, darunter:

• Diabetesversorgung
• Zeitschrift für Diabetesforschung
• Endokrine Bewertungen
• Diabetologie

Investor-Relations-Kommunikation

Seit Dezember 2023 unterhält Oramed Kommunikationskanäle über:

• Webcast zu den Quartalsergebnissen: 4-mal pro Jahr
• Downloads der Investorenpräsentation: Verfügbar auf der Unternehmenswebsite
• Direkte E-Mail-Kommunikation für Anleger: Ungefähr 2.500 registrierte Anleger

Oramed Pharmaceuticals Inc. (ORMP) – Geschäftsmodell: Kundensegmente

Diabetespatienten, die eine Insulinbehandlung benötigen

Nach Angaben der International Diabetes Federation lebten im Jahr 2021 etwa 537 Millionen Erwachsene (20–79 Jahre) mit Diabetes, Prognosen zufolge werden es bis 2030 643 Millionen sein.

Merkmale des Patientensegments	Spezifische Details
Patienten mit Typ-1-Diabetes	Ungefähr 8,4 Millionen Menschen weltweit benötigen täglich Insulin
Patienten mit Typ-2-Diabetes	Ungefähr 90 % der 537 Millionen Diabetiker benötigen eine Insulinbehandlung

Medizinisches Fachpersonal und Endokrinologen

Der weltweite Markt für Endokrinologie-Fachkräfte wird auf 50.000 Fachärzte geschätzt.

• Ungefähr 25.000 Endokrinologen in den Vereinigten Staaten
• Rund 15.000 Endokrinologen in europäischen Märkten
• Ungefähr 10.000 Endokrinologen im asiatisch-pazifischen Raum

Pharmazeutische Forscher

Forschungssegment	Globale Anzahl
Experten in der Diabetesforschung	Schätzungsweise 12.500 aktive Forscher
Pharmazeutische Forschungs- und Entwicklungsspezialisten	Ungefähr 250.000 weltweit

Krankenhaus- und klinische Gesundheitssysteme

Die Größe des globalen Gesundheitsmarkts wird im Jahr 2022 auf 8,3 Billionen US-Dollar geschätzt.

• Vereinigte Staaten: 6.090 Krankenhäuser
• Europäische Union: 8.500 Krankenhäuser
• China: 34.000 Krankenhäuser

Globale Pharmamärkte

Marktregion	Marktwert
Nordamerika	1,5 Billionen Dollar
Europa	1,2 Billionen Dollar
Asien-Pazifik	1,1 Billionen Dollar

Oramed Pharmaceuticals Inc. (ORMP) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das am 31. Dezember 2022 endende Geschäftsjahr meldete Oramed Pharmaceuticals Forschungs- und Entwicklungskosten in Höhe von 26,7 Millionen US-Dollar.

Geschäftsjahr	F&E-Ausgaben
2022	26,7 Millionen US-Dollar
2021	22,3 Millionen US-Dollar

Investitionen in klinische Studien

Oramed hat erheblich in klinische Studien für seine oralen Insulin- und POXEL-Diabetesbehandlungen investiert.

• Kosten der klinischen Phase-3-Studie für orales Insulin: Ungefähr 15 bis 20 Millionen US-Dollar pro Jahr
• Laufende klinische Entwicklung für ORMD-0960: Geschätzte 10–12 Millionen US-Dollar pro Jahr

Kosten für die Einhaltung gesetzlicher Vorschriften

Zu den Aufwendungen für die Einhaltung gesetzlicher Vorschriften für Oramed gehören:

Compliance-Kategorie	Geschätzte jährliche Kosten
FDA-Einreichungsgebühren	$500,000 - $750,000
Regulatorische Dokumentation	$300,000 - $450,000

Aufrechterhaltung von Patenten und geistigem Eigentum

Jährliche Kosten für die Aufrechterhaltung des geistigen Eigentums: $250,000 - $350,000

• Gebühren für die Patentanmeldung
• Rechtsberatung
• Markenregistrierung

Ausgaben für Marketing und wissenschaftliche Kommunikation

Die Marketingausgaben für Oramed beliefen sich im Jahr 2022 auf rund 5,2 Millionen US-Dollar.

Kategorie der Marketingausgaben	Jährliche Kosten
Teilnahme an wissenschaftlichen Konferenzen	$750,000
Digitales Marketing	1,2 Millionen US-Dollar
Investor Relations	$500,000

Oramed Pharmaceuticals Inc. (ORMP) – Geschäftsmodell: Einnahmequellen

Mögliche Lizenzierung pharmazeutischer Produkte

Ab dem vierten Quartal 2023 verfügt Oramed über potenzielle Lizenzmöglichkeiten für:

Produkt	Potenzielle Lizenzeinnahmen	Zielmarkt
ORMD-0801 (orales Insulin)	Mögliche Vorablizenzgebühr in Höhe von 50–100 Millionen US-Dollar	Diabetes-Behandlung
ORMD-0902 (GLP-1 orale Behandlung)	40–75 Millionen US-Dollar potenzieller Lizenzumsatz	Adipositas-/Diabetes-Management

Zukünftige Einnahmen aus der Arzneimittelvermarktung

Voraussichtliche Vermarktungserlöse für wichtige Pipeline-Produkte:

• Geschätztes jährliches Spitzenumsatzpotenzial für ORMD-0801: 500-750 Millionen US-Dollar
• Mögliche globale Marktdurchdringung für orales Insulin: 5-8 % innerhalb der ersten 5 Jahre
• Voraussichtlicher Jahresumsatz aus der oralen GLP-1-Behandlung: 300-450 Millionen Dollar

Forschungsstipendien und Kooperationen

Kooperationspartner	Wert der Zuwendung/Zusammenarbeit	Forschungsschwerpunkt
NIH (National Institutes of Health)	Forschungsstipendium in Höhe von 2,3 Millionen US-Dollar	Entwicklung oraler Diabetesmedikamente
JDRF International	1,5 Millionen US-Dollar Forschungsunterstützung	Innovationen bei Typ-1-Diabetes

Mögliche Meilensteinzahlungen aus Partnerschaften

Mögliche Struktur der Meilensteinzahlung:

• Präklinische Meilensteinzahlungen: 10-20 Millionen Dollar
• Meilensteine der klinischen Phase-II-Studie: 25-50 Millionen Dollar
• Meilensteine der behördlichen Zulassung: 75–100 Millionen US-Dollar

Möglichkeiten zur Lizenzierung von geistigem Eigentum

Patentkategorie	Potenzielle Lizenzeinnahmen	Technologiebereich
Orale Insulinverabreichungstechnologie	80–120 Millionen US-Dollar potenzieller Lizenzwert	Pharmazeutische Abgabesysteme
Orale Proteintherapeutika	60–90 Millionen US-Dollar potenzieller Lizenzwert	Fortschrittliche Arzneimittelformulierung

Oramed Pharmaceuticals Inc. (ORMP) - Canvas Business Model: Value Propositions

You're looking at the core value Oramed Pharmaceuticals Inc. (ORMP) delivers, which isn't just one thing; it's a blend of platform technology, financial acumen, and shareholder return strategy as of late 2025.

Oral delivery platform for injectable drugs, improving patient compliance.

The primary value is the Protein Oral Delivery (POD™) technology, designed to convert drugs typically requiring injection into an oral capsule form. This shift directly addresses patient aversion to injections, which can significantly boost compliance. Oramed Pharmaceuticals Inc. is advancing its oral insulin candidate, ORMD-0801, based on this platform.

The current focus is on validating this platform in a targeted way:

• Initiating a new U.S.-based trial with 60 patients to test ORMD-0801.
• The trial targets specific high-responder subgroups identified in prior data analysis.
• These subgroups previously demonstrated a statistically significant reduction in HbA1c of over 1% compared to placebo.
• A prior Phase IIb trial showed no increase in hypoglycemic events versus placebo.

The company CEO is confident that the cost to manufacture the oral insulin pill will be significantly lower than the cost of current insulin injections, a key benefit for patients in the U.S. who ration medication due to high cost.

Strategic financial and capital markets expertise for partner companies.

Oramed Pharmaceuticals Inc. demonstrates value to partners by deploying its financial and capital markets expertise, often through strategic investments that include collaboration. This is evident in their support for companies like Alpha Tau Medical, where Oramed leveraged its network.

Here's a snapshot of the investment activity demonstrating this expertise:

Investment Metric	Value as of September 30, 2025	Context/Partner
Initial Investment in Alpha Tau	$36.9 million	April 24, 2025
Total Investment in Alpha Tau	$37.7 million	Including open market purchases through September 30, 2025
Alpha Tau Position Value	$64.8 million	Based on closing price of $4.51 per share
Gain on Alpha Tau Position	$27.1 million	Unrealized gain

This active management shows Oramed Pharmaceuticals Inc. can generate returns while simultaneously supporting the strategic advancement of partner technologies.

Value creation for shareholders through a diversified investment portfolio.

A major component of Oramed Pharmaceuticals Inc.'s current value proposition to shareholders is the successful execution of its capital deployment strategy, which has substantially bolstered the balance sheet. You can see the tangible results of this disciplined approach.

Financial highlights for the nine months ended September 30, 2025, show a dramatic shift:

• Net income (pre-tax) reached $65.0 million, a sharp contrast to the net loss of $6.1 million in the same period last year.
• Total assets grew to approximately $220.5 million, a 42% increase year-over-year from $155.3 million.
• Basic earnings per share for the nine-month period was $1.30.
• R&D expenses were managed down to $4.4 million for the nine months, compared to $4.9 million previously.

The portfolio generated significant cash returns, including the complete repayment of approximately $100 million principal from the Scilex strategic investment. Still, it's important to note that the company had negative free cash flow of US$11m over the last year to September 2025.

Advancing oral insulin for specific high-responder patient subgroups.

The company is committed to advancing its lead candidate, ORMD-0801, by focusing development efforts where the data showed the most promise. This refined strategy aims for a more cost-effective path to validation.

The value here is the focused, data-driven approach to clinical development:

• The new U.S. Phase 3 trial is designed to validate the oral insulin formulation in a smaller, targeted population.
• This trial is designed to generate compelling evidence in the shortest time possible.
• Previous Phase 3 efforts involved a total of 1,125 patients across two studies, with one cohort (ORA-D-013-1) recruiting 675 patients.

The company is prioritizing generating data that strengthens its regulatory and commercial positioning for this oral delivery system.

Oramed Pharmaceuticals Inc. (ORMP) - Canvas Business Model: Customer Relationships

You're looking at how Oramed Pharmaceuticals Inc. (ORMP) manages its relationships with key external stakeholders, which heavily involves its strategic investment portfolio as much as its core drug development efforts. This isn't just about patients; it's about the financial partners and investors who enable the platform technology.

Active governance and board representation with strategic investments

Oramed Pharmaceuticals Inc. (ORMP) actively shapes the trajectory of its strategic investments through governance involvement. A clear example is the deal structure with Alpha Tau Medical Ltd. The initial investment, made on April 24, 2025, included board representation alongside the capital deployment. This governance tie-in suggests a hands-on approach to nurturing these relationships to drive value for Oramed Pharmaceuticals Inc. (ORMP). The company's overall financial health, which supports these relationships, saw a significant boost, reporting a pre-tax net income of $65.0 million for the nine months ended September 30, 2025, a sharp turnaround from the $6.1 million net loss in the same prior period.

Investor and shareholder outreach services for portfolio companies

While Oramed Pharmaceuticals Inc. (ORMP) doesn't explicitly detail 'outreach services' for portfolio companies in the traditional sense, its actions serve as a model for its own shareholders. The company communicates its investment success directly to its investor base. For instance, Oramed Pharmaceuticals Inc. (ORMP) released a Letter to Shareholders on October 23, 2025, detailing significant investment appreciation and reaffirming plans for a one-time dividend. This transparency regarding investment returns-such as the $27.1 million gain on the Alpha Tau position as of September 30, 2025-is a key part of managing the relationship with its own investors. The resulting per-share performance for the nine-month period was a basic earnings per share (EPS) of $1.30 and a diluted EPS of $1.26.

Financial partner relationship with companies like Scilex and Alpha Tau

The relationship with financial partners like Scilex Holding Company and Alpha Tau Medical Ltd. is central to Oramed Pharmaceuticals Inc. (ORMP)'s current financial narrative. The complete $100 million cash repayment from Scilex, representing the full return of principal from a strategic investment, was a major driver of the Q3 2025 results. Furthermore, Oramed reports a near-return of $95.5 million on a structured Scilex loan with expected additional returns of over $60 million. The Alpha Tau investment, which started with $36.9 million on April 24, 2025, was valued at approximately $64.8 million by September 30, 2025. These strategic financial relationships have helped bolster the balance sheet, with total assets increasing 42% year-over-year to $220.5 million.

Here's a quick look at the investment relationship with Alpha Tau Medical Ltd. as of September 30, 2025:

Investment Metric	Value/Amount
Initial Investment (April 24, 2025)	$36.9 million
Initial Shares Purchased	14.1 million shares
Initial Price Per Share	$2.612
Total Investment (as of Sept 30, 2025)	$37.7 million
Total Shares Held (as of Sept 30, 2025)	14.4 million shares
Valuation (Sept 30, 2025 Closing Price of $4.51)	Approx. $64.8 million
Unrealized Gain (as of Sept 30, 2025)	$27.1 million

Clinical trial engagement with high-responder patient populations

For Oramed Pharmaceuticals Inc. (ORMP)'s core product development, customer relationships translate to engagement with specific patient groups in clinical trials. The company is advancing its oral insulin program by focusing on subgroups that show the most promise. Oramed Pharmaceuticals Inc. (ORMP) is initiating a 60-patient, U.S.-based trial specifically targeting these high-responder subgroups. These are the patients who demonstrated the possibility of achieving over a 1% reduction in HbA1c, which is a clinically meaningful outcome. This targeted approach refines patient selection criteria and aims to validate the oral insulin formulation efficiently. The company believes this approach will provide valuable data to potential partners in what is hoped to be the shortest time possible.

The focus on specific patient profiles in the new trial includes:

• Participants with lower BMI.
• Participants in older demographics.
• Subgroups showing potential for over 1% HbA1c reduction.
• A total planned enrollment of 60 patients in the U.S. trial.

This focused engagement strategy is designed to generate compelling evidence for future commercial discussions. It's a smart way to manage the relationship with the ultimate customer-the patient-by focusing on where the value proposition is strongest. Finance: review the cash runway implications of the $4.4 million R&D expense for the nine-month period against the expected remaining $60 million from Scilex by next year.

Oramed Pharmaceuticals Inc. (ORMP) - Canvas Business Model: Channels

You're looking at how Oramed Pharmaceuticals Inc. gets its value propositions-like its oral drug delivery platform-to the market or realizes value from its assets as of late 2025. The channels here are less about selling a finished drug and more about strategic deployment of technology and capital.

Direct strategic equity investments in biomedical companies

Oramed Pharmaceuticals Inc. uses direct equity investments as a primary channel to generate financial returns and gain exposure to other innovative platforms, which management monitors separately from core operations. This strategy delivered significant financial income in 2025.

The nine months ended September 30, 2025, saw net income of $65.0 million, largely driven by unrealized fair-value gains from these equity holdings, alongside realized cash returns from loans. As of September 30, 2025, total cash and assets stood at approximately $210 million (unaudited).

Key investment channels include:

• Investment in Alpha Tau Medical Ltd.
• Structured loan realization from Scilex Holding Company.
• Direct equity stake in Pelthos Therapeutics Inc.
• Warrant position in BioXcel.
• Approximately $32.4 million invested in real estate and loans with real estate collateral.

Joint venture structure for core technology commercialization (OraTech)

The planned channel for commercializing the Protein Oral Delivery (POD™) technology via the OraTech Pharmaceuticals Inc. joint venture with Hefei Tianhui Biotech Co., Ltd. (HTIT) did not materialize as expected. The definitive agreements from February 2025, which involved a combined capital contribution of $75 million ($60 million from HTIT and $15 million from Oramed Pharmaceuticals Inc.), were ultimately terminated. Oramed stated that HTIT was unable to satisfy the required closing conditions, leading to the termination notice issued in October 2025. Consequently, Oramed Pharmaceuticals Inc. will continue the development of its oral insulin program independently.

The original structure intended for OraTech to have global marketing rights to the POD™ technology and for Oramed shareholders to receive a majority equity interest in the new entity.

Capital markets for managing and realizing gains on public equity holdings

Realizing gains from public and private equity holdings is a critical channel for funding Oramed Pharmaceuticals Inc.'s independent operations. The company has successfully managed this portfolio to bolster its balance sheet.

Here's a look at the realized and marked-to-market gains as of September 30, 2025:

Investment/Holding	Investment/Loan Amount	Realized/Valuation (Sep 30, 2025)	Gain/Return Status
Scilex Holding Company	Principal loan of approximately $99.5 million (total expected)	Total repayment of $100 million received; $27 million received in the nine-month period	Full principal return realized
Alpha Tau Medical Ltd.	Initial investment of $36.9 million (April 24, 2025)	Position valued at approximately $64.8 million (14.4 million shares)	$27.1 million gain on paper
Pelthos Therapeutics Inc.	$1.5 million (July 1, 2025)	Position valued at $4.2 million	180% gain realized
BioXcel	Investment made March 4, 2025	$6.25 million realized through partial sales	Retains 700,000 warrants at a $4.20 strike price

The company's common stock is listed on the Nasdaq Capital Market and the Tel Aviv Stock Exchange, with 41,743,486 shares outstanding as of December 2025.

Clinical research organizations for managing the US-based trial

Following the termination of the joint venture, Oramed Pharmaceuticals Inc. is managing the next stage of its oral insulin development directly, utilizing CROs for trial execution. The channel involves running a highly focused, efficiency-driven clinical study.

The current U.S.-based trial parameters are:

• Trial size: 60-patient U.S. trial.
• Target population: High-responder subgroups showing potential for >1% HbA1c reduction.
• Financial impact: Research and Development (R&D) expenses decreased from $4.9 million to $4.4 million for the nine months ended September 30, 2025, compared to the prior year, reflecting a more cost-conscious approach to development.

This targeted design aims to validate the formulation in the smallest adequately powered population and in the shortest feasible time, reducing near-term cost.

Finance: review the Q4 2025 R&D budget allocation for CRO services by end of January.

Oramed Pharmaceuticals Inc. (ORMP) - Canvas Business Model: Customer Segments

You're looking at the distinct groups Oramed Pharmaceuticals Inc. (ORMP) serves, which is a mix of clinical targets, strategic financial partners, and the investors who fund the journey. It's not just about the patients; it's about the ecosystem supporting the development of their oral drug delivery platform.

Biomedical companies requiring strategic capital and expertise (e.g., Alpha Tau)

This segment is crucial for Oramed Pharmaceuticals Inc. as it provides both capital infusion and validation through strategic investment. The company has actively engaged in this by deploying capital into other promising entities. For instance, Oramed Pharmaceuticals Announces $36.9 Million Investment and Strategic Collaboration with Alpha Tau Medical on April 28, 2025. This investment strategy is a core part of their business model, as evidenced by the nine months ended September 30, 2025, where net income (pre-tax) reached $65.0 million, largely driven by substantial unrealized fair-value gains from the equity holdings in Alpha Tau Medical Ltd. and other investments. Furthermore, as part of its capital management strategy, Oramed Pharmaceuticals Inc. has invested and loaned approximately $32.4 million in real estate and loans with real estate collateral.

Oramed Pharmaceuticals Inc. shareholders seeking returns from investment strategy

Shareholders are segmented by their interest in both the core drug development pipeline and the returns generated from the strategic investment portfolio. For the nine months ended September 30, 2025, basic earnings per share was $1.30, with diluted earnings per share at $1.26. Total assets grew 42% year-over-year, moving from $155.3 million to $220.5 million. The investment activity provided significant returns, including the completion of a full $100 million principal repayment from Scilex, with approximately $27 million received during the nine-month period. Looking at ownership structure as of late 2025 filings, institutional shareholders account for 18.18% of the company, while insiders hold 53.13% and retail investors hold 28.69%. A major institutional holder, BML Capital Management, Llc, held 3,167,231 shares as of September 29, 2025. The largest individual shareholder, Zeev Bronfeld, owns 6.59M shares, representing 16.56% of the company.

Here's a quick look at key ownership and financial metrics for this segment:

Metric	Value	Reporting Period/Date
Net Income (Pre-tax)	$65.0 million	Nine Months Ended Sept 30, 2025
Total Assets Growth	42%	Year-over-Year as of Sept 30, 2025
Basic EPS	$1.30	Nine Months Ended Sept 30, 2025
Institutional Ownership Percentage	18.18%	Late 2025
Largest Individual Shareholder Stake	16.56%	Late 2025

Patients with Type 2 Diabetes (T2D) in high-responder subgroups

This group represents the ultimate end-user for Oramed Pharmaceuticals Inc.'s core product development, specifically the oral insulin candidate ORMD-0801. The target population involves patients with Type 2 Diabetes (T2D) who have inadequate glycemic control while already on existing oral agents. In 2023, analysis of the ORA-D-013-1 Phase 3 trial identified specific subpopulations who responded well to the oral insulin. These subsets showed an over 1% placebo adjusted, statistically significant, reduction in HbA1c. The trial itself focused on T2D patients already on two or three oral glucose-lowering agents. The broader market context shows the scale: the Type 2 Diabetes market across the top 7 markets (US, EU4, UK, and Japan) was valued at USD 24.7 Billion in 2024. Globally, the IDF projected 783 million adults with diabetes by 2045, up from 537 million in 2021.

The focus on specific patient characteristics defines this segment:

• Patients with T2D on two or three oral glucose-lowering agents.
• Subpopulations defined by pooled specific parameters: BMI, baseline HbA1c, and age.
• Patients achieving an over 1% placebo adjusted, statistically significant, reduction in HbA1c in prior trials.

Global pharmaceutical companies for future licensing or acquisition

This segment consists of larger entities that Oramed Pharmaceuticals Inc. seeks for potential licensing deals, joint ventures, or outright acquisition, providing a pathway to commercialization and significant milestone payments. The company has actively pursued this, announcing a Transformative Joint Venture to Accelerate Development and Commercialization of Oral Insulin in February 2025. The company's strategy involves advancing its oral drug delivery platform to attract these partners, which is supported by the $65.0 million net income for the first nine months of 2025, providing the financial flexibility to pursue such strategic opportunities. The existence of agreements like the Rest of World License Term Sheet between Oramed Pharmaceuticals Inc., Scilex Holding Company, and Others from October 8, 2024, demonstrates the established nature of seeking these licensing relationships.

Oramed Pharmaceuticals Inc. (ORMP) - Canvas Business Model: Cost Structure

You're looking at the costs Oramed Pharmaceuticals Inc. is incurring to keep its dual focus-advancing the oral drug delivery platform while managing a significant investment portfolio. The cost structure is heavily weighted toward R&D, but the investment activity is a major financial driver, both in terms of potential gains and associated management costs.

Here's a look at the key operating expenses for the nine months ended September 30, 2025, which gives you a clear picture of the burn rate before considering investment income/expenses.

Cost Category	Amount (Nine Months Ended Sept 30, 2025)	Prior Period Comparison (9M 2024)
Research and Development (R&D) Expenses	$4.4 million	$4.9 million
General and Administrative (G&A) Expenses	$5.0 million	$4.3 million
Total Reported Operating Expenses (R&D + G&A)	$9.4 million	$9.2 million
Oral Insulin Program Investment (R&D + Buybacks Context)	$17.8 million	Not directly comparable from available data

The cost structure is defined by these operational outlays, but you must remember that Oramed Pharmaceuticals Inc.'s net income for the period was significantly positive at $65.0 million (pre-tax), largely due to investment portfolio movements, not operational profit.

The specific components of the Cost Structure block are:

• Research and Development (R&D) expenses of $4.4 million (9M 2025).
• General and Administrative (G&A) expenses of $5.0 million (9M 2025).
• Costs associated with managing the investment portfolio and due diligence.
• Clinical trial costs for the new 60-patient oral insulin study.

The investment portfolio management is a cost center, though the search results emphasize the unrealized fair-value gains from holdings like Alpha Tau Medical Ltd. as a primary driver of the period's net income, rather than detailing the management fees or due diligence expenses themselves.

For the clinical development side, Oramed Pharmaceuticals Inc. is running a focused 60-patient U.S. trial targeting high-responder subgroups for its oral insulin candidate. The investment in this program, combined with share buybacks, was cited as $17.8 million in the context leading up to the Q3 2025 results.

You should watch the next 10-Q filing for a more granular breakdown of the non-operating expenses, which would capture the costs related to managing the investment portfolio and the specific spend on the 60-patient oral insulin study.

Oramed Pharmaceuticals Inc. (ORMP) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Oramed Pharmaceuticals Inc. (ORMP) as of late 2025, and honestly, it's not a simple story of product sales right now. The numbers show a heavy reliance on strategic financial maneuvers, which is something you definitely need to factor into your valuation model.

The core operational revenue stream is quite minimal, which tells you the company is still in a pre-commercialization phase for its main drug delivery platform. For the trailing twelve months ending September 30, 2025, the recognized operational revenue was just $2.00 million. That small figure is tied to things like the HTIT License Agreement recognition.

However, the big financial impact in the nine months ending September 30, 2025, came from investment activity, not drug sales. This is where the cash is flowing in right now.

Here's a quick look at the key financial figures driving the top-line results for the nine-month period:

Revenue/Gain Component	Amount (Nine Months Ended Sep 30, 2025)	Notes
Pre-Tax Net Income	$65.0 million	Driven by investment gains and repayments.
Realized Cash Return (Scilex)	$100 million (Total Principal)	Approximately $27 million received during the nine-month period.
Financial Income (Net)	$74,278 thousand	Reflects fair value gains on equity holdings like Alpha Tau Medical.
Operational Revenue (TTM)	$2.00 million	Revenue for the twelve months ending September 30, 2025.

You saw the full repayment from Scilex Holding Company, which was a significant cash event. The total principal returned amounted to $100 million, with about $27 million of that hitting the books during the nine-month period ending September 30, 2025. This was a key driver for the reported pre-tax net income of $65.0 million for that same nine-month stretch, reversing a prior year loss of $6.1 million.

Also contributing heavily to that net income were the unrealized fair-value gains. The financial income, net, for the nine months was reported as $74,278 thousand, which is largely due to the mark-to-market adjustments on their equity holdings, especially the position in Alpha Tau Medical Ltd. What this estimate hides is that the core operating loss for the nine months was negative, around $(9,416) thousand, so these investment gains are what created the reported profit.

Looking ahead, Oramed Pharmaceuticals Inc. still has a stated revenue stream based on its partnership structure, though concrete numbers aren't public yet. You should keep an eye on:

• Future royalty payments from OraTech Pharmaceuticals Inc. on oral insulin sales in China.

Plus, there's still a potential near-term cash event from the remaining Scilex warrants. Scilex retains an option to repurchase the remaining warrants for $14 million on or before December 31, 2025. Finance: draft the cash flow impact scenario for the remaining $14 million Scilex tranche by next Tuesday.