Oramed Pharmaceuticals Reports $2 Million Revenue in Q1 2025, Net Loss of $7.6 Million

Oramed Pharmaceuticals Inc. reported its financial results for the first quarter of 2025, revealing a revenue of $2 million, a significant increase from zero revenue in the same period last year. The company incurred a net loss of $7.6 million, compared to a net income of $1.5 million in the first quarter of 2024. This shift in profitability is attributed to increased research and development expenses, which rose to $2.2 million from $1.2 million, and general and administrative expenses, which increased to $2.3 million from $1.8 million. The basic and diluted loss per share for the quarter was $0.19, compared to earnings of $0.04 per share in the prior year.

The company's total current assets as of March 31, 2025, were approximately $131.5 million, a decrease from $143.2 million at the end of 2024. This decline was primarily due to a reduction in short-term deposits, although cash and cash equivalents increased to $74.5 million from $54.4 million. Oramed's total liabilities decreased to $5.5 million from $5.7 million, resulting in a working capital surplus of approximately $125.9 million.

Strategically, Oramed has made significant advancements, including the formation of a joint venture with Hefei Tianhui Biotech Co., Ltd. (HTIT) to develop and commercialize oral insulin. The joint venture, named OraTech, is expected to leverage Oramed's proprietary technology and HTIT's manufacturing capabilities. However, the initial closing of the joint venture, which was set for April 30, 2025, has been delayed due to ongoing U.S.-China trade tensions affecting HTIT's ability to secure necessary regulatory approvals. Consequently, Oramed has paused plans to initiate a Phase 3 clinical trial in the U.S. while exploring alternative partnerships.

In terms of operational metrics, the company has not reported specific customer counts or user statistics in this filing. However, it has indicated a focus on enhancing its product pipeline and evaluating strategic opportunities to maximize shareholder value. The company continues to assess its existing research and development activities, particularly in light of the recent Phase 3 trial results for its oral insulin product, which did not meet primary endpoints in previous trials.

Looking ahead, Oramed anticipates that its research and development expenses will remain a significant part of its operational costs, particularly as it prepares for the revised Phase 3 clinical trial. The company believes it has sufficient cash resources to maintain its planned activities for at least the next 12 months, despite the challenges posed by the joint venture's delays and the broader market conditions.