JERUSALEM Dec 25 Oramed, an Israeli
developer of oral drug delivery systems, said it had agreed to
sell 1.58 million shares of its common stock at $10 per share in
a registered direct offering.
Net proceeds of $15.8 million will go towards expenses
primarily related to the company's U.S. focused clinical
development of its oral insulin for type 1 and type 2 diabetes
indications, as well as pre clinical and clinical studies for
its oral GLP-1 analog project, and for general corporate
purposes, Oramed said.
Aegis Capital Corp. is acting as sole placement agent for
Oramed's Nasdaq-listed shares closed at $15 on Tuesday.