By Sheri Kasprzak
New York, Aug. 6 - Oramed Pharmaceuticals, Inc. sealed a $2 million private placement.
The company sold 4 million shares at $0.50 each.
The investors also received warrants for 4 million shares, exercisable at $0.75 each.
Proceeds will be used for the completion of phase 1 trials of its oral insulin gel capsule.
Based in Jerusalem, Oramed develops oral-delivered treatments for diabetes.
Issuer: | Oramed Pharmaceuticals, Inc.
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Issue: | Stock
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Amount: | $2 million
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Shares: | 4 million
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Price: | $0.50
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Warrants: | For 4 million shares
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Warrant strike price: | $0.75
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Settlement date: | Aug. 6
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Stock symbol: | OTCBB: ORMP
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Stock price: | $0.40 at close Aug. 3
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