Oramed’s in­sulin pill fails PhI­II tri­al in di­a­betes, stock craters

Oramed Phar­ma­ceu­ti­cals’ quest to de­vel­op an in­sulin pill for Type II di­a­betes just got stonewalled.

The biotech said its Phase III tri­al test­ing the oral in­sulin cap­sule OR­MD-0801 failed to im­prove glycemic con­trol com­pared to place­bo. The tri­al didn’t meet its pri­ma­ry end­point, which mea­sured the mean change in A1C, a blood sug­ar lev­el test, from base­line af­ter half a year.

The biotech’s stock $ORMP fell by over 70%, from $10.79 at Wednes­day’s clos­ing to less than $3 a share Thurs­day morn­ing.

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