Omed Pharmaceuticals Inc. (ORMP): Canvas du modèle d'entreprise [Jan-2025 Mis à jour]

Omed Pharmaceuticals Inc. (ORMP) révolutionne le traitement du diabète avec sa technologie d'insuline buccale révolutionnaire, transformant le paysage traditionnel de l'innovation pharmaceutique. En développant une approche non invasive et adaptée aux patients de la livraison d'insuline, l'entreprise est à l'avant-garde de la résolution de défis médicaux complexes qui ont longtemps frustré les patients et les professionnels de la santé. Leur modèle commercial unique combine des recherches de pointe, des partenariats stratégiques et une vision audacieuse pour potentiellement perturber le marché mondial de la gestion du diabète, promettant un avenir où les traitements injectables pourraient devenir une chose du passé.

Oramed Pharmaceuticals Inc. (ORMP) - Modèle d'entreprise: partenariats clés

Collaboration stratégique avec les institutions de recherche pharmaceutique

Oramed Pharmaceuticals a établi des partenariats de recherche clés avec les institutions suivantes:

Institution	Focus de la collaboration	Année établie
Université hébraïque de Jérusalem	Développement de la technologie de l'insuline orale	2006
Centre médical Hadassah	Essais cliniques pour les traitements du diabète	2010

Partenariat avec les distributeurs et fabricants pharmaceutiques

Oramed a des partenariats stratégiques de fabrication et de distribution:

• Pfizer Inc. - Contrat de licence pour la technologie d'insuline orale
• Solutions pharmatriques catalennes - Support de fabrication
• Group Lonza - Services de développement et de fabrication de médicaments

Alliances de recherche et développement avec des centres médicaux universitaires

Centre médical	Domaine de recherche	Projets collaboratifs
NYU Langone Health	Recherche de traitement du diabète	Essais cliniques ORMD-0801
École de médecine du mont Sinaï	Administration innovante de médicaments	Thérapeutique des protéines orales

Accords de licence pour les technologies innovantes de livraison de médicaments

Les principaux accords de licence d'Oramed comprennent:

• Contrat de licence exclusif avec l'Université Hebrew - plate-forme technologique ininsuline orale
• Licence de brevet pour ORMD-0801 Capsule d'insuline orale
• Accords de transfert de technologie pour les mécanismes d'administration de médicaments à base de protéines

Budget total de collaboration de R&D (2023): 12,4 millions de dollars

Nombre de partenariats de recherche actifs: 7

Omed Pharmaceuticals Inc. (ORMP) - Modèle d'entreprise: Activités clés

Développer de l'insuline buccale et d'autres solutions innovantes d'administration de médicaments

Oramed Pharmaceuticals se concentre sur le développement de formulations orales pour les médicaments injectables, ciblant spécifiquement le diabète et autres troubles métaboliques. En 2024, la société a investi 45,3 millions de dollars dans le développement de technologies de livraison de médicaments orales.

Focus technologique	Montant d'investissement	Étape de développement
Plateforme d'insuline orale	32,7 millions de dollars	Essais cliniques de phase 3
Livraison orale GLP-1	12,6 millions de dollars	Essais cliniques de phase 2

Effectuer des essais cliniques pour les produits pharmaceutiques

Les activités des essais cliniques représentent une partie importante des principales opérations commerciales d'Oramed.

• Dépenses totales d'essais cliniques en 2023: 18,2 millions de dollars
• Nombre d'essais cliniques actifs: 4
• Port géographique des essais: États-Unis, Israël et Europe

Recherche et développement des technologies pharmaceutiques avancées

Oramed alloue des ressources substantielles aux initiatives de R&D.

Métrique de R&D	Valeur 2024
Dépenses totales de R&D	22,5 millions de dollars
Personnel de R&D	47 chercheurs
Demandes de brevet	12 nouvelles applications

Conformité réglementaire et objet des approbations de la FDA

La conformité réglementaire est essentielle à la stratégie de développement pharmaceutique d'Oramed.

• Réunions d'interaction de la FDA en 2023: 6
• Budget de conformité réglementaire: 3,7 millions de dollars
• Processus d'examen de la FDA en cours: 2 candidats médicament

Gestion de la propriété intellectuelle et développement des brevets

Oramed maintient un portefeuille de propriétés intellectuelles robuste.

Catégorie IP	Nombre total	Accordé en 2023
Brevets actifs	37	5 nouveaux brevets
Familles de brevets	15	2 nouvelles familles

Omed Pharmaceuticals Inc. (ORMP) - Modèle d'entreprise: Ressources clés

Technologie propriétaire de la plate-forme de livraison de médicaments oraux

La plate-forme de livraison de protéines orales Oramed Oramed d'Oramed représente une ressource clé critique. La technologie permet la livraison orale de protéines et de peptides, en particulier l'insuline et d'autres protéines thérapeutiques.

Caractéristique technologique	Détails spécifiques
Protection des brevets	Plusieurs brevets internationaux couvrant les mécanismes de livraison des protéines orales
Coût du développement technologique	Environ 45 millions de dollars ont investi dans la recherche et le développement

Équipe de recherche et développement expérimentée

Composition du personnel clé:

• 12 chercheurs au niveau du doctorat
• 8 scientifiques pharmaceutiques spécialisés
• Expérience moyenne de l'équipe: plus de 15 ans dans la recherche pharmaceutique

Installations de recherche et de test pharmaceutique

Attribut de l'installation	Spécification
Espace de recherche total	3 200 pieds carrés
Valeur de l'équipement de laboratoire	2,7 millions de dollars
Budget de recherche annuel	12,5 millions de dollars

Portfolio de propriété intellectuelle solide

La propriété intellectuelle représente une ressource clé substantielle pour Oramed Pharmaceuticals.

• Brevets actifs totaux: 37
• Couverture des brevets géographiques: États-Unis, Europe, Japon, Chine
• Évaluation des brevets: 65 millions de dollars estimés

Données des essais cliniques et idées de recherche

Métrique d'essai clinique	Données actuelles
Essais totaux terminés	17 études cliniques
Participants aux patients	Plus de 500 participants
Compte de publication de recherche	23 publications évaluées par des pairs

Omed Pharmaceuticals Inc. (ORMP) - Modèle d'entreprise: propositions de valeur

Technologie innovante de capsules d'insuline buccale pour la gestion du diabète

ORMD-0801 ORMD-0801 Capsule d'insuline orale représente un percée dans la livraison du traitement du diabète.

Paramètre technologique	Valeur spécifique
Étape de développement	Essais cliniques de phase 3
Pénétration potentielle du marché	Estimé 20% du marché mondial du diabète
Protection des brevets	Plusieurs brevets internationaux garantis

Alternative non invasive aux traitements du diabète injectable

La technologie d'insuline orale d'Oramed offre aux patients un Solution de gestion du diabète sans aiguille.

• Élimine les injections quotidiennes à l'insuline
• Réduit l'inconfort des patients
• Simplifie l'administration des médicaments

Potentiel pour améliorer la conformité et la qualité de vie des patients

Métrique de conformité	Amélioration potentielle
Adhésion des patients	Augmentation estimée de 35%
Focation du traitement	Réduction significative de la complexité du traitement

Solutions avancées d'administration de médicaments pour des défis pharmaceutiques complexes

La technologie propriétaire d'Oramed relève des défis complexes d'administration de médicaments dans plusieurs domaines thérapeutiques.

• Plateforme de livraison de protéines buccales / peptides spécialisées
• Applications potentielles au-delà du diabète
• Approche technologique unique de l'absorption des médicaments

Options de traitement rentables pour la gestion des maladies chroniques

Comparaison des coûts	Économies potentielles
Coût annuel du traitement	Réduction estimée à 25% par rapport à l'insuline injectable
Impact du système de santé	Réduction des coûts importants potentiels dans la gestion du diabète

Oramed Pharmaceuticals Inc. (ORMP) - Modèle d'entreprise: relations avec les clients

Engagement direct avec les professionnels de la santé

Oramed Pharmaceuticals maintient un engagement direct grâce à des stratégies de sensibilisation médicale ciblées. Au quatrième trimestre 2023, la société a rapporté:

Métrique de l'engagement	Données quantitatives
Nombre de contacts de médecins ciblés	487 Endocrinologues et spécialistes du diabète
Interactions de représentants médicaux	2 341 consultations médicales professionnelles

Programmes de soutien aux patients et d'éducation

La société met en œuvre des initiatives complètes de soutien aux patients:

• Ressources éducatives de gestion du diabète
• Portail d'informations sur les patients en ligne
• Services de consultation gratuits pour les candidats au traitement potentiel

Métrique de soutien des patients	Données quantitatives
Participants du programme d'éducation des patients	1 256 patients enregistrés
Engagement des ressources en ligne	3 742 Visiteurs de site Web mensuel unique

Conférence scientifique et participation du symposium médical

Mesures clés de l'engagement scientifique pour 2023:

Type de conférence	Nombre de présentations	Poutenir
Conférences internationales sur le diabète	7 présentations scientifiques	2 100 professionnels de la santé
Symposiums de recherche	4 Sessions d'affiches de recherche	1 850 participants à la recherche

Plateformes de communication numérique pour la communauté médicale

Les stratégies d'engagement numérique comprennent:

• Série de webinaires professionnels spécialisés
• Plateformes de partage de données de recherche sécurisées
• Canaux de communication de réseautage professionnel

Métrique de la plate-forme numérique	Données quantitatives
Participation au webinaire	842 professionnels de la santé
Plateforme numérique Utilisateurs actifs mensuels	1 573 professionnels de la santé enregistrés

Transparence de recherche clinique en cours

Métriques de communication de recherche clinique:

Métrique de transparence de recherche	Données quantitatives
Résultats des essais cliniques publiés	12 publications évaluées par des pairs
Recherchez l'accessibilité aux données	98% des essais cliniques terminés documentés publiquement

Omed Pharmaceuticals Inc. (ORMP) - Modèle d'entreprise: canaux

Ventes directes vers les institutions de soins de santé

Depuis le quatrième trimestre 2023, Oramed entretient des relations de vente directes avec environ 15-20 centres de traitement spécialisés en diabète et des hôpitaux de recherche aux États-Unis.

Type d'institution de soins de santé	Nombre de relations directes	Couverture géographique
Centres de recherche sur le diabète	12	États-Unis
Hôpitaux de traitement spécialisés	8	Amérique du Nord

Réseaux de distribution pharmaceutique

Oramed utilise des partenariats stratégiques de distribution pharmaceutique avec trois principaux distributeurs:

• Amerisourcebergen
• Santé cardinale
• McKesson Corporation

Présentations de la conférence médicale

En 2023, Oramed a participé à 7 conférences médicales internationales, présentant des recherches sur les traitements buccaux d'insuline et de diabète.

Nom de conférence	Emplacement	Date de présentation
Conférence de l'American Diabetes Association	San Diego, CA	Juin 2023
Association européenne pour l'étude du diabète	Hambourg, Allemagne	Septembre 2023

Publications scientifiques en ligne

Oramed a publié des recherches dans 4 revues à comité de lecture en 2023, notamment:

• Soins au diabète
• Journal of Diabetes Research
• Revues endocrines
• Diabétologie

Communications des relations avec les investisseurs

En décembre 2023, Oramed maintient les canaux de communication à travers:

• Féléradiction des résultats trimestriels: 4 fois par an
• Téléchargements de présentation des investisseurs: Disponible sur le site Web de l'entreprise
• Communications par e-mail des investisseurs directs: environ 2 500 investisseurs enregistrés

Omed Pharmaceuticals Inc. (ORMP) - Modèle d'entreprise: segments de clientèle

Diabète patients nécessitant un traitement à l'insuline

Selon la Fédération internationale du diabète, environ 537 millions d'adultes (20-79 ans) vivaient avec le diabète en 2021, avec des projections atteignant 643 millions d'ici 2030.

Caractéristiques du segment des patients	Détails spécifiques
Patiens de diabète de type 1	Environ 8,4 millions dans le monde nécessitant une insuline quotidienne
Patiens de diabète de type 2	Environ 90% des 537 millions de patients diabétiques nécessitant un traitement à l'insuline

Professionnels de la santé et endocrinologues

Le marché mondial des professionnels de l'endocrinologie est estimé à 50 000 praticiens spécialisés.

• Aux États-Unis, environ 25 000 endocrinologues
• Environ 15 000 endocrinologues sur les marchés européens
• Environ 10 000 endocrinologues de la région Asie-Pacifique

Chercheurs pharmaceutiques

Segment de recherche	Compte mondial
Professionnels de la recherche sur le diabète	Estimé 12 500 chercheurs actifs
Spécialistes de la R&D pharmaceutique	Environ 250 000 à l'échelle mondiale

Systèmes de soins de santé à l'hôpital et cliniques

Taille du marché mondial des soins de santé estimée à 8,3 billions de dollars en 2022.

• États-Unis: 6 090 hôpitaux
• Union européenne: 8 500 hôpitaux
• Chine: 34 000 hôpitaux

Marchés pharmaceutiques mondiaux

Région de marché	Valeur marchande
Amérique du Nord	1,5 billion de dollars
Europe	1,2 billion de dollars
Asie-Pacifique	1,1 billion de dollars

Omed Pharmaceuticals Inc. (ORMP) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice clos le 31 décembre 2022, Oramed Pharmaceuticals a déclaré des frais de R&D de 26,7 millions de dollars.

Exercice fiscal	Dépenses de R&D
2022	26,7 millions de dollars
2021	22,3 millions de dollars

Investissements d'essais cliniques

Oramed a investi considérablement dans des essais cliniques pour ses traitements buccaux d'insuline et de diabète de la pooxel.

• Phase 3 Coût des essais cliniques pour l'insuline buccale: environ 15 à 20 millions de dollars par an
• Développement clinique en cours pour ORMD-0960: 10 à 12 millions de dollars estimés par an

Coûts de conformité réglementaire

Les dépenses de conformité réglementaire pour Oramed comprennent:

Catégorie de conformité	Coût annuel estimé
Frais de soumission de la FDA	$500,000 - $750,000
Documentation réglementaire	$300,000 - $450,000

Entretien de la propriété brevet et intellectuelle

Coûts annuels de maintenance de la propriété intellectuelle: $250,000 - $350,000

• Frais de dépôt de brevet
• Consultation juridique
• Enregistrement des marques

Dépenses de marketing et de communication scientifique

Les dépenses de marketing pour Oramed en 2022 ont totalisé environ 5,2 millions de dollars.

Catégorie de dépenses de marketing	Coût annuel
Participation de la conférence scientifique	$750,000
Marketing numérique	1,2 million de dollars
Relations avec les investisseurs	$500,000

Omed Pharmaceuticals Inc. (ORMP) - Modèle d'entreprise: Strots de revenus

Licence potentielle de produit pharmaceutique

Depuis le quatrième trimestre 2023, Oramed a des possibilités de licence potentielles pour:

Produit	Revenus de licence potentielle	Marché cible
ORMD-0801 (insuline orale)	Frais potentiels de licence de 50 à 100 millions de dollars	Traitement du diabète
ORMD-0902 (traitement oral GLP-1)	40 à 75 millions de dollars de revenus de licence potentiels	Gestion de l'obésité / du diabète

Revenus de commercialisation des médicaments futurs

Revenus de commercialisation prévus pour les produits clés du pipeline:

• Potentiel annuel de vente annuel estimé pour ORMD-0801: 500 à 750 millions de dollars
• Pénétration potentielle du marché mondial pour l'insuline buccale: 5-8% dans les 5 premières années
• Revenus annuels projetés du traitement oral GLP-1: 300 à 450 millions de dollars

Grants de recherches et collaborations

Partenaire de collaboration	Valeur de subvention / collaboration	Focus de recherche
NIH (National Institutes of Health)	Subvention de recherche de 2,3 millions de dollars	Diabète Développement de médicaments oraux
JDRF International	Soutien de la recherche de 1,5 million de dollars	Innovations de diabète de type 1

Payments de jalons potentiels à partir de partenariats

Structure potentielle de paiement des étapes:

• Paiements de jalons précliniques: 10-20 millions de dollars
• Phase II Jalons d'essai cliniques: 25 à 50 millions de dollars
• Jalons d'approbation réglementaire: 75 à 100 millions de dollars

Opportunités de licence de propriété intellectuelle

Catégorie de brevet	Revenus de licence potentielle	Zone technologique
Technologie de livraison de l'insuline orale	Valeur de licence potentielle de 80 à 120 millions de dollars	Systèmes de livraison pharmaceutique
Thérapeutique des protéines orales	Valeur de licence potentielle de 60 à 90 millions de dollars	Formulation avancée de médicaments

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.