Oramed rises as subsidiary signs pre-purchase order for COVID-19 vaccine
29/12/2021 15:40
** Oramed Pharmaceuticals Inc's shares ORMP.O up 3.8% at
$13.47 in volatile morning trade
** Says subsidiary, Oravax Medical, signed agreement with
Vietnam-based Tan Thanh Holdings Investment Joint Stock Company
to pre-purchase Oravax's oral COVID-19 vaccine, which is
currently in development urn:newsml:reuters.com:*:nPnb6D5Hka
** Adds agreement grants Tan Thanh Holdings right to sell
oral vaccine throughout the ASEAN countries
** Also says the two parties have agreed to negotiate
follow-on orders potentially worth hundreds of millions of
dollars
** ORMP earlier this month said first participant in South
Africa was enrolled in early-stage trial of Oravax's COVID-19
vaccine urn:newsml:reuters.com:*:nPn2yxvlha
** All four brokerages covering ORMP rate the stock "buy" or
higher; their median PT is $33.50
** Including session's gains, stock is up 218% YTD
(Reporting by Leroy Leo)
((Leroy.Dsouza@thomsonreuters.com;))