Bioassociate Announces Initiation of Coverage on Oramed Pharmaceuticals, Inc.
TEL AVIV, Israel, February 12, 2013
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
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
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