Oramed Pharmaceuticals Inc (ORMP)

[venturecapp]

Oramed reports 3Q loss but beats expectations

July 6, 2016
JERUSALEM (AP) _ Oramed Pharmaceuticals Inc. (ORMP) on Wednesday reported a loss of $1.9 million in its fiscal third quarter.

The Jerusalem-based company said it had a loss of 15 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.

The drug maker posted revenue of $163,000 in the period.

Oramed shares have dropped nearly 4 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.24, an increase of 19 percent in the last 12 months