Core Insights - Lifeward Ltd. has successfully closed a strategic partnership agreement with Oramed Pharmaceuticals, enhancing its position as a diversified biomedical innovation company with a clear path to profitability [1][2] Company Overview - Lifeward is a global leader in innovative medical technology aimed at transforming the lives of individuals with physical limitations or disabilities [1][3] - The company designs, develops, and commercializes solutions that provide functional and health benefits in both clinical and home settings [3] - Lifeward's product portfolio includes notable innovations such as the ReWalk Exoskeleton, AlterG Anti-Gravity system, MyoCycle FES System, and ReStore Exo-Suit [3] Strategic Partnership Details - The partnership with Oramed Pharmaceuticals includes the acquisition of Oramed's clinical-stage Protein Oral Delivery (POD™) technology, which opens up significant opportunities in the biotech market [2] - Lifeward has access to up to $47 million in capital from Oramed and other investors, having accessed $10 million of this capital on March 25, 2026 [2] Operational Changes - Following the partnership, Lifeward has made changes to its board of directors, indicating a strategic shift in governance to align with its new objectives [2]

Core Insights - Lifeward is transforming into a diversified biomedical innovation company with a focus on long-term growth and sustainability, highlighted by a strategic transaction with Oramed that introduces a new oral protein delivery technology platform [2][3] - The company is executing its strategy through the acquisition of powered upper-body exoskeleton technology, which complements its existing ReWalk platform and enhances operational scale [2][4] - Lifeward has improved operational efficiency, reflected in lower operating expenses and cash usage, supporting its goal of achieving positive cash flow [2][10] Strategic Developments - Lifeward has secured shareholder approval for a transformative agreement with Oramed, which includes acquiring Oramed's POD™ technology platform and potential funding of up to $47 million [3] - The lead drug candidate from the POD™ technology, ORMD-0801, aims to revolutionize type 2 diabetes treatment by providing oral insulin delivery [3] - The acquisition of upper-body exoskeleton technology is expected to be commercially launched within 18 to 24 months, enhancing Lifeward's product offerings [4] Financial Performance - In Q4 2025, Lifeward reported revenue of $5.1 million, a decrease of approximately 33% from Q4 2024, with ReWalk Personal exoskeleton sales increasing by 20% to $1.8 million [11] - For the full year 2025, total revenue was $22.0 million, down 14% from 2024, with notable declines in sales of the MyoCycle FES bike and AlterG products [17] - The company achieved a gross margin of 21.4% in Q4 2025, down from 24.4% in Q4 2024, primarily due to lower sales volumes and increased tariffs [12] Operational Efficiency - Lifeward's total operating expenses in Q4 2025 decreased by 64% to $6.2 million, largely due to a prior impairment charge and reductions in R&D and marketing expenses [13] - The company’s operating loss narrowed by 66% to $5.1 million in Q4 2025, compared to $15.2 million in Q4 2024 [14] - For the full year 2025, total operating expenses declined by 25% to $28.1 million, reflecting improved efficiency in reimbursement activities and lower R&D spending [19] Market Expansion - Lifeward has made significant progress in expanding reimbursement coverage for the ReWalk Personal Exoskeleton, with major payers like Aetna, Humana, and UnitedHealthcare now providing access to approximately 16 million covered lives in the U.S. [5][6] - The company is also expanding its international distribution of the ReWalk® Personal Exoskeleton into Mexico, Thailand, and the UAE through a partnership with Verita Neuro [8] - Lifeward is transforming its U.S. sales and distribution infrastructure to a hybrid model, focusing on direct-to-patient engagement and capital equipment sales [9]

Group 1 - Oramed Pharmaceuticals received an $18 million payment from Scilex Holdings, fulfilling obligations under the Option Agreement, resulting in total returns of $118 million on a $99.5 million investment [1][2] - Oramed retains a $27 million note and a $12 million convertible note with Scilex, convertible into equity at $36 per share, with repayment scheduled through October 2026 if not converted [2] - The Board of Directors approved a cash dividend of $0.25 per share, with an expected total distribution of approximately $10.5 million, funded by surplus capital [3] Group 2 - Oramed is a clinical-stage pharmaceutical company focused on oral delivery solutions for injectable drugs, utilizing its Protein Oral Delivery (POD™) technology [4]

Core Insights - Oramed Pharmaceuticals Inc. reported a strong financial performance for the nine months ended September 30, 2025, with total assets increasing by 42% to $220.5 million [1][7] - The company achieved a net income of $65 million, a significant turnaround from a net loss of $6.1 million in the same period last year, primarily due to cash returns from Scilex Holding Company and unrealized gains from investments in Alpha Tau Medical Ltd. [3][4][7] Financial Highlights - Net income (pre-tax) reached $65.0 million, compared to a net loss of $6.1 million in the same period last year [7] - The company completed a full repayment from Scilex, receiving approximately $27 million during the period, totaling $100 million in principal return from this strategic investment [4][7] - Basic earnings per share were reported at $1.30, while diluted earnings per share were $1.26 [7] - Total assets grew from $155.3 million to $220.5 million year-over-year, marking a 42% increase [7] - Research and Development (R&D) expenses decreased from $4.9 million to $4.4 million, while General and Administrative (G&A) expenses increased from $4.3 million to $5.0 million [7] Management Commentary - CEO Nadav Kidron emphasized that the disciplined investment strategy is yielding strong results, providing the company with greater financial flexibility to pursue strategic opportunities while advancing its oral drug delivery platform [4]

Core Viewpoint - Oramed Pharmaceuticals Inc. has adopted a Rights Agreement to protect stockholders in the event of a hostile takeover, ensuring fair treatment and enhancing negotiation power with potential acquirers [1][3]. Group 1: Rights Agreement Details - The Rights Agreement, effective November 17, 2025, grants stockholders one common stock purchase right for each share held, aimed at preventing unfair takeover tactics [1][2]. - Each Right allows stockholders to purchase one share of Common Stock at a price of $10.00, becoming exercisable if a person or group acquires 15% or more of the outstanding shares [2][3]. - The Rights will expire three years after adoption unless redeemed or exchanged earlier by the Company [4]. Group 2: Rights Exercise and Redemption - Upon triggering the ownership threshold, each Right can be exercised for shares or equivalent value, but Rights held by the triggering person will become void [3]. - The Board of Directors retains the option to redeem the Rights at $0.012 per Right before any person becomes an Acquiring Person [2][3]. Group 3: Dividend Distribution - The dividend distribution of the Rights will be payable on November 27, 2025, to stockholders of record as of the close of business on that date [4]. - The distribution of Rights is not taxable to stockholders [4]. Group 4: Company Overview - Oramed Pharmaceuticals Inc. is a pioneer in oral delivery solutions for drugs typically administered via injection, utilizing its Protein Oral Delivery (POD™) technology to enhance drug absorption [5].

Core Insights - Oramed Pharmaceuticals has made a strategic investment in Alpha Tau Medical, acquiring approximately 14.1 million shares at a price of $2.612 per share, aimed at supporting Alpha Tau's innovative cancer therapy technology [1][2] - The partnership combines Oramed's oral drug delivery platform with Alpha Tau's precision radiation delivery technology, enhancing both companies' capabilities in therapeutic delivery [1][3] - Oramed will provide strategic guidance and capital markets expertise to Alpha Tau through a three-year service agreement, which includes appointing two directors to Alpha Tau's Board [2][3] Company Overview - Oramed Pharmaceuticals specializes in oral delivery solutions for drugs typically administered via injection, utilizing its proprietary Protein Oral Delivery (POD™) technology to enhance drug integrity and absorption [4] - Alpha Tau Medical, founded in 2016, focuses on the research and development of the Alpha DaRT® technology for treating solid tumors, initially developed by professors from Tel Aviv University [5] Strategic Goals - The collaboration is expected to accelerate Alpha Tau's clinical trials across four indications in the U.S., expand manufacturing capacity, and enhance commercialization efforts [1][2] - Both companies share a vision of transforming therapeutic delivery methods, with Oramed focusing on oral administration and Alpha Tau on targeted radiation therapy [3]