Oramed (ORMP) Stock Falls As It Partners With Genomma

Genomma Lab and Oramed claimed to organize a partnership in order to sell their COVID-19 vaccine in Mexico, they will divide their venture named Ovarax Medical Inc. by half. ORMP stock dropped yesterday. It was trading at $18.95 and marked a 28% decrease. It is dropping 6% today to $17.80. Genomma Laboratory is about to distribute to the development of the oral COVID-19 vaccine program, as well as other clinical and commercial activities in Mexico, supported by its close collaboration with Oramed. The companies also announced entering into a $20 million share exchange. Genomma will stay in the future commitment and partnership for the benefit of Ovarax.

Genomma’s strong sales and network issuing in Mexico and Latin America, combined with Oravax’s cutting-edge science and geographical reach, creates a compelling combination. Genomma Labs Chairman, Rodrigo Herrera, stated that the company’s partnership with Oramed is a unique opportunity that will allow Genomma to benefit from the development of Oravax’s next-generation oral vaccine, which is being developed to protect against the COVID-19. Genomma is excited to partner with Oravax to develop and market an extraordinary oral vaccine for Latin America. The company’s goal is to provide a safe and effective vaccine to people in need.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.