Oramed Pharmaceuticals Reports $2M Revenue and $54M Net Income for Quarter Ending September 30, 2025

Oramed Pharmaceuticals Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending September 30, 2025. The company generated revenues of $2 million during the nine months ended September 30, 2025, a notable increase from zero revenues in the same period of the previous year. This revenue was primarily attributed to the recognition of deferred income related to the HTIT License Agreement. The company also reported a net income of $54 million, a substantial turnaround from a net loss of approximately $8.9 million in the prior year, reflecting a basic income per share of $1.30 compared to a loss of $0.22 per share in the same period last year.

In terms of operational changes, Oramed's total assets increased significantly to approximately $220.5 million as of September 30, 2025, up from $155.3 million at the end of 2024. This growth was driven by a rise in investments at fair value, particularly in Alpha Tau Medical Ltd., which saw its fair value increase to $64.8 million. The company also reported a decrease in its accumulated deficit to $122.6 million from $176.6 million at the end of 2024, indicating improved financial health.

Strategically, Oramed has been active in expanding its investment portfolio and restructuring its financial agreements. The company entered into a joint venture with Hefei Tianhui Biotech Co., Ltd. to advance the development of oral insulin, although this agreement was terminated in October 2025 due to unmet closing conditions. Additionally, Oramed has made significant investments in Alpha Tau Medical Ltd., acquiring a 17% stake, and has engaged in various financial transactions with Scilex Holding Company, including a senior secured promissory note and warrants.

Operationally, the company reported a decrease in research and development expenses to $4.4 million for the nine months ended September 30, 2025, down from $4.9 million in the previous year, primarily due to reduced stock-based compensation. General and administrative expenses increased to $5 million, reflecting higher stock-based compensation costs. The company’s cash and cash equivalents stood at $52.2 million, with total current liabilities of $6.1 million, indicating a strong liquidity position.

Looking ahead, Oramed anticipates increased research and development expenses as it prepares to initiate a new clinical trial for its oral insulin formulation. The company is focused on refining its patient selection criteria and generating compelling evidence for future regulatory submissions. However, it acknowledges the need for additional financing to support its operations and growth initiatives, particularly in light of the challenging conditions in the capital markets.