- Oramed's (ORMP) shares are -9% after The Street's Adam Feuerstein criticizes the results of a Phase IIa trial of the company's ORMD-0801 insulin capsule for the treatment of Type 2 diabetes.
- Oramed said last week that the capsule met all its primary and secondary endpoints, and that it is safe and well tolerated, although it didn't provide any data.
- However, Feuerstein has found a slide which shows that "adverse events were reported by 40% of type 2 diabetics treated with the high dose of ORMD-0801." The rate was 30% in the low-dose group and 50% in the placebo group.
- Feuerstein charges that Oramed's "handling of the ORMD-0801 data smacks more of stock promotion than credible drug development."
Oramed sinks after trial results criticized
Feb 3 2014, 10:13 ET