Northerner
Admin (Retired)
- Relationship to Diabetes
- Type 1
Oct 22 (Reuters) - Oramed Pharmaceuticals Inc said its oral insulin capsule appeared to be safe and was well-tolerated by diabetics in a mid-stage trial.
The Israeli biotechnology company's shares jumped about 10 percent to $8.73 before the bell on Wednesday.
The treatment, ORMD-0801, was being tested in 25 patients with type 1 diabetes, once known as juvenile diabetes.
It is a chronic condition in which the pancreas produces little or no insulin, a hormone needed to allow sugar to enter cells to produce energy.
ORMD-0801 is also being developed for use in type 2 diabetes, the most common form of the disease, where the body does not use insulin properly.
The Israeli biotechnology company's shares jumped about 10 percent to $8.73 before the bell on Wednesday.
The treatment, ORMD-0801, was being tested in 25 patients with type 1 diabetes, once known as juvenile diabetes.
It is a chronic condition in which the pancreas produces little or no insulin, a hormone needed to allow sugar to enter cells to produce energy.
ORMD-0801 is also being developed for use in type 2 diabetes, the most common form of the disease, where the body does not use insulin properly.