Current Report Filing (8-k)
14 November 2022 - 11:56PM
Edgar (US Regulatory)
0001176309
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0001176309
2022-11-13
2022-11-13
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xbrli:shares
iso4217:USD
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
November 13, 2022
ORAMED PHARMACEUTICALS INC. |
(Exact name of registrant as specified in its charter) |
delaware |
|
001-35813 |
|
98-0376008 |
(State or Other Jurisdiction |
|
(Commission File Number) |
|
(IRS Employer |
of Incorporation) |
|
|
|
Identification No.) |
1185 Avenue of the Americas, Third Floor, New York, New York |
|
10036 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
844-967-2633
(Registrant’s telephone number, including
area code)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section
12(b) of the Act:
Title of each class |
|
Trading symbol |
|
Name of each exchange on which registered |
Common Stock, par value $0.012 |
|
ORMP |
|
The Nasdaq Capital Market,
Tel Aviv Stock Exchange |
Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On November 13, 2022, Oramed
Pharmaceuticals Inc. and its subsidiary, Oramed Ltd., (collectively, “Oramed”) entered into a definitive distribution license
agreement (the “Agreement”) with Medicox Co., Ltd. (“Medicox”). The Agreement grants Medicox the exclusive license
to apply for regulatory approval for and distribute Oramed’s proprietary oral insulin candidate (ORMD-0801), currently in development,
for ten years in the Republic of Korea. Medicox will comply with agreed distribution targets and will purchase ORMD-0801 at an agreed
upon transfer price per capsule. In addition, Medicox will pay Oramed up to $18 million in developmental milestones, $2 million of which
have already been received by Oramed to date in connection with the non-binding memorandum of agreement entered into by Oramed and Medicox
on September 1, 2022, and up to 15% royalties on gross sales. Medicox will also be responsible for gaining regulatory approval in the
Republic of Korea.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
ORAMED PHARMACEUTICALS INC. |
|
|
|
By: |
/s/
Nadav Kidron |
|
Name: |
Nadav Kidron |
|
Title: |
President and CEO |
November 14, 2022
2
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