TEL AVIV, Israel, February 12, 2013 /PRNewswire/ --
Bioassociate has initiated coverage on Oramed Pharmaceuticals, Inc. (NASDAQ: ORMP). The Initiation Report contains a detailed discussion of Oramed's business operations, market dynamics, macroeconomic data and indicators, financial results, potential cash flows, and risks. The Initiation Report is available at: http://www.bioassociate.com/research-and-publications/publications/.
Dr. Ofir Levi, Bioassociate CEO: "Oramed is developing an orally ingestible capsule for the delivery of protein-based therapies with focus on treatment of diabetes. Oramed oral insulin, ORMD-0801, has demonstrated safety and efficacy in several clinical studies, and is scheduled to commence a phase 2 study under IND during 2013. Oramed recently raised $5M in a public offering and moved from being traded on the OTC Market to the NASDAQ. We anticipate that these events jointly with the advancement in the clinical development will increase investors' attention and trading volumes. For these reasons we, at Bioassociate, decide to initiate analysis coverage with a target price of $12.8 per share, which reflects an upside of 38%."
Bioassociate is an independent investment research firm specialized in the life-science sector. Bioassociate helps inform readers about small-mid cap life science companies without extensive analyst coverage. Bioassociate structures its teams with multidisciplinary members to conduct specific assignments. The Bioassociate team has industry experience as well as consulting and research track record, providing investors with in-depth scientific insights and their financial manifestation.
The research report described in this press release is not constructed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer would be illegal. Bioassociate is not soliciting any action based upon this material. It does not take into account the particular investment objectives, financial situation, risk profile or other needs of individual investors. Before acting on any advice or recommendation in this material, an investor should consider whether it is suitable for his/her particular circumstances and, if necessary, seek professional advice. The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should be relied upon as such. Opinions expressed are Bioassociate's current opinions as of the date appearing on this material only; such opinions are subject to change without notice.
Please read each report's full disclosures and analyst background on Bioassociate website, http://www.bioassociate.com, before investing. Bioassociate is not a registered investment adviser or broker-dealer.
The research report described in this press release contains forward-looking data subject to risks and uncertainties that could cause actual results to differ materially from those projected. These forward-looking data represent Bioassociate's judgment as of the date of this release. Bioassociate disclaims, however, any intent or obligation to update this forward-looking data.