Cantor sees promising future for Oramed's insulin capsule; initiates

Oramed Pharmaceuticals

18/02/2022 13:49

** Cantor Fitzgerald initiates coverage on drug developer
Oramed Pharmaceuticals  ORMP.O  with "overweight" rating and PT
of $20
    ** Co's lead candidate ORMD-0801 is an oral insulin capsule
being developed for the treatment of type 2 diabetes; it is
currently being tested in late-stage studies
    ** Brokerage says ORMD-0801 may show 'superior clinical
profile' relative to injected insulin as the oral route of
administration allows the absorbed insulin to target the liver
directly
    ** Adds that oral insulin may also lead to increased
compliance and adherence by patients intent on avoiding daily
jabs
    ** Says if the treatment is approved, even low penetration
into U.S. and EU markets could yield substantial revenue;
expects ~$981 mln in unadjusted revenue by 2030
    ** Brokerage adds that ORMD-0801 may prove to have potential
beyond type 2 diabetes as it is also being evaluated for type 1
diabetes mellitus and non-alcoholic steatohepatitis (NASH), with
NASH pilot study data expected in H2 of 2022 
    ** All three analysts covering the stock rate it "buy" or
higher; median PT is $35 - Refinitiv Eikon data

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))