Oramed Pharmaceuticals Inc. reported a significant financial turnaround for the fiscal year ending December 31, 2025, achieving a net income of $64 million compared to a net loss of $19.1 million in the previous year. This improvement was driven by a notable increase in revenues, which reached $2 million, attributed to the recognition of revenue from the HTIT License Agreement. The company's gross profit stood at $13,000, reflecting a cost of revenue of $1.99 million, primarily linked to the repayment of grants to the Israel Innovation Authority. In contrast, the previous fiscal year saw no revenue, highlighting a substantial shift in financial performance.
The company’s operational expenses also saw changes, with research and development expenses slightly increasing to $6.38 million from $6.32 million, while general and administrative expenses rose significantly by 35% to $8.72 million, largely due to increased stock-based compensation and professional fees. Notably, Oramed's financial income surged to $89.45 million, primarily due to the revaluation of investments in Alpha Tau and Scilex, compared to a net financial expense of $2.29 million in 2024. This shift contributed to a substantial increase in the company's overall financial health.
Strategically, Oramed has been active in pursuing partnerships and investments to enhance its business model. The company entered into a Share Purchase Agreement with Lifeward, transferring its Protein Oral Delivery (POD™) technology platform to Lifeward while retaining a significant equity stake. This transaction is expected to provide Oramed with revenue-sharing payments and warrants, aligning with its strategy to focus on high-potential innovations. Additionally, the company has engaged in various investments, including a $36.9 million investment in Alpha Tau, a clinical-stage oncology company, and a commitment to invest in real estate projects, reflecting a diversified approach to capital allocation.
As of December 31, 2025, Oramed reported total current assets of approximately $133.27 million and a working capital surplus of $114.19 million, indicating a strong liquidity position. The company has also been proactive in managing its share repurchase program, having repurchased over 1.7 million shares in 2025. Looking ahead, Oramed plans to initiate a new clinical trial for its oral insulin formulation in 2026, which is expected to incur increased research and development expenses. The company remains focused on enhancing shareholder value through strategic evaluations and potential partnerships, although it acknowledges the need for additional financing to support its ongoing and future initiatives.
About ORAMED PHARMACEUTICALS INC.
Oramed Pharmaceuticals develops innovative oral drug delivery solutions, primarily focusing on oral insulin and proteins for diabetes and other conditions. Its core business involves research, clinical trials, and strategic partnerships to commercialize oral biologic therapies. The company owns extensive intellectual property, collaborates with global partners, and targets markets worldwide, aiming to improve patient convenience and treatment efficacy through proprietary technology and strategic licensing.
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