Oramed Pharmaceuticals Stock Up 15% On CEO Update

Shares of Oramed Pharmaceuticals Inc. (ORMP) are gaining nearly 15% on Thursday after the clinical-stage pharmaceutical company’s Chief Executive Officer sent a letter to shareholders sharing updates about the company.

ORMP is currently trading at $5.78, up $0.74 or 14.68%, on the Nasdaq. The stock opened its trading at $5.28 after closing Wednesday’s trading at $5.04. The stock has traded between $3.59 and $31.54 in the past 52-week period.

CEO Nadav Kidron said that the company considers itself to be “well positioned financially and clinically with multiple important milestones expected over the next six months.”

Kidron added that the company’s financial position is strong with a robust balance sheet, no debt and about $169 million in cash and investments as of March 31, 2022. This financial position gives the company “sufficient runway” to complete its pivotal oral insulin ORMD-0801 Phase 3 trials and advance towards potential FDA approval.

Kidron added that in January 2023, the company will anticipates report top-line efficacy data in a pivotal Phase 3 oral insulin trial for the treatment of type 2 diabetes, under a U.S. FDA protocol.

The company also expects to announce top-line results of phase 2 trial of ORMD-0801 in type 2 diabetes patients with NASH. There is currently no FDA approved treatment for NASH, which is expected to become an $84 billion market by 2029.

Samson International Recalls Broadmoore Cayden Gentleman’s Chests That Can Tip-over

Samson International has recalled about 5,400 Universal Broadmoore Cayden Gentleman’s 9-drawer chests because the chests can to tip over and cause accidents.

According to Consumer Product Safety Commission, the recalled chests are unstable if they are not anchored to the wall, posing tip-over and entrapment hazards that can result in death or serious injuries to consumers.

Samson International said it has received one report of a tip-over incident involving a 10-year-old child.

The recall involves Samson International’s Universal Broadmoore Cayden Gentleman’s 9-drawer chests with model/item number M71C3180. The chests are brown and measure about 49 inches tall, 55 inches wide, and 18 inches deep. The product were sold exclusively at Costco Wholesale Warehouses nationwide and online from December 2019 through April 2020 for about $700.

The company has asked customers to immediately stop using recalled chests if they are not properly anchored to the wall and place them in an area that children cannot access. They need to contact Samson for a full refund or a free tip-over restraint kit.

Eastbound lanes of I-70 closed through Glenwood Canyon by a truck crash

A truck crash forced the eastbound lanes of Interstate 70 to close through Glenwood Canyon on Thursday.

The eastbound lanes are closed from Glenwood Springs to Dotsero, about an 18-mile stretch, according to the Colorado State Patrol.

At about 12:20 p.m. the state patrol said that the lanes should reopen in about 6 to 8 hours.

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Oil Futures Rebound From Recent Losses, Settle Sharply Higher

Crude oil futures settled higher on Thursday, regaining ground after two successive days of losses, despite data showing an unexpected increase in U.S. crude supplies last week.

Data showing a decline in gasoline supply last week, and the dollar’s weakness supported oil prices.

Oil supply disruptions at the Caspian Pipeline Consortium (CPC), which has been told by a Russian court to suspend activity for 30 days, contributed a bit to the jump in oil prices.

West Texas Intermediate Crude oil futures for August ended higher by $4.20 or about 4.3% at $102.73 a barrel.

Natural gas contracts for August soared $0.79 or about 14.3% to $6.297 per mln Btus.

Brent crude futures were up $4.04 or about 4% at $104.73 a barrel a little while ago.

Data from Energy Information Administration (EIA) showed crude inventories in the U.S. rose by 8.2 million barrels in the week ended July 1.

The EIA data showed gasoline supplies dropped by 2.5 million barrels in the week, while distillate stockpiles fell by 1.3 million barrels.

The EIA data also showed oil stocks in the Strategic Petroleum Reserve fell to 492 million barrels, from 497.9 million barrels from a week earlier.

A report from the American Petroleum Institute on Wednesday showed U.S. crude supplies increased by 3.8 million barrels last week.

‘Nothing left’ Pension scams leave Britons up to £250,000 worse off ‘Life savings gone’

PMQs: Johnson says UK ‘must be vigilant’ for pension scams

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Sue Flood told ITV how she never thought she would fall victim to a scam but ended up losing £250,000 in a sophisticated pension scam. She wants to warn others so they don’t fall for the same tricks. 

 A pensioner appeared on This Morning to warn others after she lost thousands of pounds and nearly had a breakdown after being scammed by fraudsters.

Her and her husband were convinced to invest in a pension pot which wasn’t what its seemed.

I turns out 10.000 people are scammed out of their pension money every year.

Now she want to warn others so they don’t fall for the same tricks.