Oramed sinks after trial results criticized

|About: Oramed Pharmaceuticals Inc. (ORMP)|By:, SA News Editor

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."