Shares of Oramed are down 73% or $7.92 in pre-market trading at $2.87. Last night, the company announced that the top-line results from its Phase 3 clinical trial comparing the efficacy of ORMD-0801 to placebo in patients with Type 2 Diabetes at 26 weeks did not meet its primary endpoint. The stock has also been downgraded to Hold at Canaccord this morning.
Published first on TheFly
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Read More on ORMP:
- Oramed downgraded to Hold at Canaccord after ORMD-0801 discontinued
- Oramed downgraded to Hold from Buy at Canaccord
- Oramed Crashes after Disappointing Topline Results
- Oramed’s results from phase 3 trial of ORMD-0801 did not meet primary endpoint
- Oramed granted combination therapy patent for treating diabetes