Oramed's Upcoming Report & Dividend Could Boost Stock After Recent Slump
Oramed Pharmaceuticals, a biopharmaceutical company specialising in oral drug delivery, has faced investor skepticism despite management's efforts. A recent analysis from October 19th offers guidance to shareholders on buying or selling the company's stock. Oramed's stock market performance has been lacklustre, with only 14 green trading days in the last 30. Since the start of the year, the stock has dropped nearly 19%. This downturn has coincided with an increase in short interest, which surged over 25% to 280,292 shares by the end of September. The company's upcoming quarterly report on November 14th is seen as crucial for boosting investor sentiment. Oramed plans to distribute a $0.25 per share cash dividend and offer shareholders the opportunity to participate in an IPO of its OraTech stake. Additionally, Oramed received $13 million from Scilex Holding for warrant repurchase, with the potential for another $14 million by year-end. Oramed's future hinges on the success of its Phase-3 studies for oral insulin in the US and the approval process in China. These could be significant breakthroughs for the company. The upcoming quarterly report and planned shareholder distributions may help to reassure investors and turn around the company's recent stock market performance.
