What happened with ORMP today?
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Oramed Pharmaceuticals Inc. invests its capital in healthcare companies while remaining involved in oral-insulin development. It lends to Scilex, which owes it principal and interest, and owns rights to royalties linked to sales of Scilex medicines, including ZTLido and Gloperba. It also holds equity investments, including Alpha Tau Medical and Lifeward. These investments depend on borrowers’ ability to repay, partners’ product sales and the value of the shares it owns.
Its original drug-development business sought to replace insulin injections with an oral capsule, ORMD-0801. In March 2026, Oramed transferred OraTech and its POD oral-delivery technology to Lifeward in exchange for shares, warrants and potential payments linked to sales of Lifeward’s ReWalk Personal Exoskeleton products and related warranties. Those sales-sharing rights have contractual caps and termination conditions. Oramed remains responsible for managing OraTech’s oral-insulin study, with specified costs reimbursed within contractual limits.
Oramed’s historical operating revenue came largely from HTIT licensing, not drug sales. An earlier late-stage oral-insulin trial failed to meet its main efficacy goals; a further trial in selected patients was planned for the second half of 2026. Oral insulin still requires successful clinical development and regulatory approval before it can be sold.
Oramed also structures its investments to remain outside U.S. investment-company regulation or qualify for exemptions. If it falls within that regime, it could have to register or sell investments, restricting how it operates.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Lifeward Ltd. now owns Oramed’s OraTech and oral-delivery assets; Oramed holds Lifeward equity and still manages the oral-insulin study. Watch sales of ReWalk Personal exoskeletons for people with paraplegia and related extended warranties: Oramed may receive 4% of that net revenue for up to 10 years after closing, subject to caps and early termination.
Alpha Tau Medical Ltd.’s valuation matters to Oramed’s investment results because Oramed owns approximately 17% of the cancer-treatment developer. Watch clinical and regulatory progress for Alpha DaRT, its localized radiation treatment for solid tumors: Alpha Tau had no product-sales revenue through December 31, 2025.
Scilex Holding Company’s drug sales and ability to repay debt both matter to Oramed, which receives product royalties and holds Scilex debt and investments. Watch worldwide net sales of its non-opioid products: Oramed receives 4% on ZTLido, SP-103 and related products for 10 years, and half of a 4% royalty on Gloperba, Elyxyb and related products.
Nano Dimension Ltd.’s valuation reaches Oramed through its expanded shareholding, not through a shared pharmaceutical business. Nano sells manufacturing machinery, software and materials to industrial customers, so its electronics and metal-printing businesses give Oramed investment exposure outside drug development.
Novo Nordisk’s insulin and oral GLP-1 medicines compete for diabetes patients with the oral-insulin program Oramed continues to manage. Watch uptake of its oral diabetes treatments: Oramed identifies widespread GLP-1 use as significant competitive pressure on its investigational insulin capsule.
Eli Lilly’s insulin and incretin diabetes medicines compete with Oramed’s investigational oral insulin for treating type 2 diabetes. For Oramed holders, Lilly is an alternative-treatment competitor, not a source of investment or royalty income.
Rani Therapeutics Holdings, Inc. competes with Oramed’s oral protein platform for drug-development and licensing opportunities using capsules designed to deliver biologic medicines into the intestinal wall. Its RaniPill licensing milestones show whether pharmaceutical partners are paying to advance this competing approach, rather than buying approved products.
Entera Bio Ltd. shares Oramed’s effort to deliver protein drugs by mouth, and their technologies are also linked by a patent-transfer agreement whose Oramed-side rights and obligations moved to Oramed NewCo in March 2025. Watch Entera’s clinical and approval progress: it has no product-sales revenue and expects none until a candidate is approved and successfully commercialized.
Rani Therapeutics Holdings, Inc. earningsRANI
Rani Therapeutics’ report will show whether drug companies are funding its oral biologic-delivery capsule, a competing approach to Oramed’s platform for development and licensing opportunities.
Look for partner milestone payments alongside the development progress they relate to; these are not sales of approved products. Payments as programs advance show pharmaceutical partners are funding this competing route; limited progress and payments point to weaker commercial backing and less evidence of pressure on Oramed’s platform.
Oramed Pharmaceuticals Inc. earningsThis company
Oramed Pharmaceuticals’ report will show whether licensing and royalties are bringing in operating revenue, or whether profit still rests mainly on changes in investment values.
Read licensing and royalty revenue alongside net income and financial income from investments. Growing recurring revenue with profit less dependent on investment revaluations would show the business is building its own earnings base; little revenue with profit still driven by investment gains would show operations have not taken over.
Lifeward Ltd. earningsLFWD
Lifeward’s report will show whether sales of ReWalk exoskeletons and related warranties are building the revenue base for Oramed’s contractual share.
Focus on net revenue from ReWalk Personal Exoskeleton products and related extended warranties, not Lifeward’s total sales. Oramed is entitled to 4% of that net revenue for up to 10 years after closing, subject to caps and early termination. Growth expands the potential royalty base; flat or falling sales leave little room for this income stream to grow.
Alpha Tau Medical Ltd. earningsDRTS
Alpha Tau Medical’s report will show whether progress on its cancer therapy supports the outlook for Oramed’s roughly 17% investment.
Track clinical and regulatory progress for Alpha DaRT, its localized radiation treatment, alongside the fact that Alpha Tau had no product-sales revenue through 2025. Progress would clarify the prospects of the business behind Oramed’s stake; limited progress would leave the investment tied mainly to the uncertain development of an uncommercialized therapy.
Scilex Holding Company earningsSCLX
Scilex Holding Company’s report will show whether worldwide sales of its covered products are generating royalties for Oramed.
Look at worldwide net sales of ZTLido, SP-103 and related products, then Gloperba, Elyxyb and related products. Oramed’s royalty is 4% on the first group and half of 4% on the second; stronger sales expand its potential royalty base, while weak sales limit this income stream.
