2023 Q1 Form 10-K Financial Statement

#000121390023017837 Filed on March 06, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $666.0K $681.0K $2.703M
YoY Change 0.0% 1.04% 199.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.447M $3.144M $15.66M
YoY Change -76.21% 35.28% 273.53%
% of Gross Profit
Research & Development $4.427M $7.277M $27.64M
YoY Change -24.14% 13.53% 205.84%
% of Gross Profit
Depreciation & Amortization $37.00K $17.00K $58.00K
YoY Change 236.36% 41.67% 222.22%
% of Gross Profit
Operating Expenses $4.427M $10.42M $27.64M
YoY Change -62.85% 19.32% 108.91%
Operating Profit -$5.208M -$40.60M
YoY Change -53.71%
Interest Expense $1.597M $1.004M $3.473M
YoY Change 193.57% -2742.11% 4791.55%
% of Operating Profit
Other Income/Expense, Net $1.597M $264.0K
YoY Change 112.9%
Pretax Income -$3.611M -$8.736M $11.16M
YoY Change -66.28% 7.88% -191.1%
Income Tax $0.00 $100.0K
% Of Pretax Income 0.9%
Net Earnings -$3.611M -$8.543M -$37.76M
YoY Change -65.36% 8.28% 223.65%
Net Earnings / Revenue -542.19% -1254.48% -1397.11%
Basic Earnings Per Share $0.08 $0.94
Diluted Earnings Per Share $0.07 -$0.22 $0.94
COMMON SHARES
Basic Shares Outstanding 39.78M shares 39.11M shares 39.00M shares
Diluted Shares Outstanding 40.04M shares 39.00M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.47M $40.82M $155.7M
YoY Change -82.72% 8.17% 6.45%
Cash & Equivalents $24.10M $40.46M $40.46M
Short-Term Investments $366.0K $352.0K $115.3M
Other Short-Term Assets $1.423M $1.389M $1.389M
YoY Change -27.1% -22.7% -16.17%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $155.2M $157.1M $157.1M
YoY Change 8.08% 6.2% 6.2%
LONG-TERM ASSETS
Property, Plant & Equipment $977.0K $815.0K $1.802M
YoY Change -36.23% 110.05% 102.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.707M $2.707M $2.707M
YoY Change -90.01% -90.73% -90.66%
Other Assets $24.00K $24.00K $24.00K
YoY Change 0.0% 0.0% -7.69%
Total Long-Term Assets $4.623M $4.533M $4.533M
YoY Change -83.87% -84.83% -84.83%
TOTAL ASSETS
Total Short-Term Assets $155.2M $157.1M $157.1M
Total Long-Term Assets $4.623M $4.533M $4.533M
Total Assets $159.8M $161.6M $161.6M
YoY Change -7.23% -9.1% -9.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.055M $4.158M $2.175M
YoY Change 22.51% -12.67% -52.04%
Accrued Expenses $242.0K $247.0K $2.219M
YoY Change 2.11% 90.0% 1606.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.972M $5.746M $5.746M
YoY Change -21.38% -22.01% -22.01%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.660M $4.740M $4.740M
YoY Change 26.73% 15.64% 23.37%
Total Long-Term Liabilities $4.660M $4.740M $4.740M
YoY Change 26.73% 23.37% 23.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.972M $5.746M $5.746M
Total Long-Term Liabilities $4.660M $4.740M $4.740M
Total Liabilities $9.632M $10.49M $9.830M
YoY Change -2.46% -6.46% -13.52%
SHAREHOLDERS EQUITY
Retained Earnings -$166.5M -$163.1M
YoY Change 28.9%
Common Stock $481.0K $476.0K
YoY Change 3.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $151.0M $151.8M $151.8M
YoY Change
Total Liabilities & Shareholders Equity $159.8M $161.6M $161.6M
YoY Change -7.23% -9.1% -9.1%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$3.611M -$8.543M -$37.76M
YoY Change -65.36% 8.28% 223.65%
Depreciation, Depletion And Amortization $37.00K $17.00K $58.00K
YoY Change 236.36% 41.67% 222.22%
Cash From Operating Activities -$5.549M -$8.062M -$27.92M
YoY Change -39.19% 16.79% 151.02%
INVESTING ACTIVITIES
Capital Expenditures $199.0K $308.0K $496.0K
YoY Change -523.4% -5611.11%
Acquisitions
YoY Change
Other Investing Activities -$13.00M $11.57M $30.71M
YoY Change -275.59% -111.68% -130.94%
Cash From Investing Activities -$13.20M $11.26M $30.21M
YoY Change -279.41% -111.37% -130.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.62M
YoY Change -82.47%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $2.430M 4.175M $10.78M
YoY Change 6.02% -93.11% -82.2%
NET CHANGE
Cash From Operating Activities -$5.549M -8.062M -$27.92M
Cash From Investing Activities -$13.20M 11.26M $30.21M
Cash From Financing Activities $2.430M 4.175M $10.78M
Net Change In Cash -$16.36M 7.373M $13.01M
YoY Change -3210.27% -116.24% -126.12%
FREE CASH FLOW
Cash From Operating Activities -$5.549M -$8.062M -$27.92M
Capital Expenditures $199.0K $308.0K $496.0K
Free Cash Flow -$5.748M -$8.370M -$28.41M
YoY Change -36.68% 21.25% 155.68%

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-2703000 usd
CY2022 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1000 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
1000 usd
CY2021 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
3000 usd
CY2022 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-38000 usd
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-25000 usd
CY2021 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-89000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-27918000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11122000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-21181000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
496000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
375000 usd
CY2022 us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
24000 usd
CY2022 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
151700000 usd
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
100000000 usd
CY2021 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
18460000 usd
CY2022 ormp Purchase Of Longterm Deposit
PurchaseOfLongtermDeposit
5000 usd
CY2021 ormp Purchase Of Longterm Deposit
PurchaseOfLongtermDeposit
25000000 usd
CY2021 ormp Payments To Acquire Mutual Funds
PaymentsToAcquireMutualFunds
-3765000 usd
CY2021 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
10362000 usd
CY2022 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
178200000 usd
CY2021 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
18460000 usd
CY2022 us-gaap Proceeds From Sale Of Held To Maturity Securities
ProceedsFromSaleOfHeldToMaturitySecurities
6886000 usd
us-gaap Proceeds From Sale Of Held To Maturity Securities
ProceedsFromSaleOfHeldToMaturitySecurities
761000 usd
CY2021 us-gaap Proceeds From Sale Of Held To Maturity Securities
ProceedsFromSaleOfHeldToMaturitySecurities
8209000 usd
CY2022 us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
2700000 usd
CY2022 ormp Payments To Acquire Funds In Respect Of Employee Rights Upon Retirement
PaymentsToAcquireFundsInRespectOfEmployeeRightsUponRetirement
-2000 usd
CY2021 ormp Payments To Acquire Funds In Respect Of Employee Rights Upon Retirement
PaymentsToAcquireFundsInRespectOfEmployeeRightsUponRetirement
1000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
30211000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-99248000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-23764000 usd
CY2022 ormp Proceeds From Issuance Of Common Stock And Warrants
ProceedsFromIssuanceOfCommonStockAndWarrants
11500000 usd
ormp Proceeds From Issuance Of Common Stock And Warrants
ProceedsFromIssuanceOfCommonStockAndWarrants
59933000 usd
CY2021 ormp Proceeds From Issuance Of Common Stock And Warrants
ProceedsFromIssuanceOfCommonStockAndWarrants
79983000 usd
CY2022 ormp Proceeds From Stock Options And Warrants Exercised
ProceedsFromStockOptionsAndWarrantsExercised
62000 usd
ormp Proceeds From Stock Options And Warrants Exercised
ProceedsFromStockOptionsAndWarrantsExercised
639000 usd
CY2021 ormp Proceeds From Stock Options And Warrants Exercised
ProceedsFromStockOptionsAndWarrantsExercised
21409000 usd
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
783000 usd
CY2021 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
1500000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
10779000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
60572000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
102892000 usd
CY2022 ormp Effectofexchangeratechangesoncash
EFFECTOFEXCHANGERATECHANGESONCASH
-64000 usd
ormp Effectofexchangeratechangesoncash
EFFECTOFEXCHANGERATECHANGESONCASH
9000 usd
CY2021 ormp Effectofexchangeratechangesoncash
EFFECTOFEXCHANGERATECHANGESONCASH
2000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
13008000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-49789000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
57949000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27456000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
77245000 usd
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19296000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40464000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27456000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
77245000 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
100000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1844000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
128000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
563000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
730000 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
582000 usd
CY2021 ormp Inprocess Research And Developments
InprocessResearchAndDevelopments
1040000 usd
CY2021 ormp Note Receivable From Akers
NoteReceivableFromAkers
1500000 usd
CY2021Q3 ormp Additional Paid In Capital Amount
AdditionalPaidInCapitalAmount
-1045000 usd
CY2021 ormp Noncontrolling Interests
NoncontrollingInterests
-1495000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>c.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of estimates in the preparation of financial statements</b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the financial statements date and the reported expenses during the reporting periods. Actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to stock-based compensation, expectation of milestone payments and to the expected product submission date for revenue recognition purposes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p>
CY2022Q4 us-gaap Marketable Securities
MarketableSecurities
437000 usd
CY2021Q4 us-gaap Marketable Securities
MarketableSecurities
1200000 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px; text-align: justify"> </td> <td style="width: 48px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>j.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Concentration of credit risks</b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Financial instruments that subject the Company to credit risk consist primarily of cash and cash equivalents, short and long-term deposits, which are deposited in major financial institutions, and marketable securities. The Company is of the opinion that the credit risk in respect of these balances is remote.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p>
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements Other
EffectiveIncomeTaxRateReconciliationTaxSettlementsOther
0.50 pure
CY2022 us-gaap Revenue Recognition Allowances
RevenueRecognitionAllowances
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>l.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue recognition</b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>HTIT</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On November 30, 2015, the Company entered into a Technology License Agreement (the “TLA”), with Hefei Tianhui Incubator of Technologies Co. Ltd. (“HTIT”) and on December 21, 2015, the parties entered into an Amended and Restated Technology License Agreement that was further amended by the parties on June 3, 2016 and July 24, 2016 (the “HTIT License Agreement”). The HTIT License Agreement and a Stock Purchase Agreement, dated November 30, 2015, between the Company and HTIT (the “SPA”) were considered a single arrangement with multiple deliverables. The Company allocated the total consideration of $49,500 between the License Agreement and the SPA according to their fair value, as follows: $10,617 was allocated to the issuance of common stock (less issuance expenses of $23), based on the quoted price of the Company’s shares on the closing date of the SPA on December 28, 2015, and $38,883 was allocated to the License Agreement.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Under ASC 606, the Company identified a single performance obligation in the agreement and determined that the license and services are not distinct as the license and services are highly dependent on each other. In other words, HTIT cannot benefit from the license without the related services, and vice versa.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Since the customer benefits from the services as the entity performs, revenue is recognized over time through the expected product submission date in June 2023, using the input method. The Company used the input method to measure the process for the purpose of recognizing revenue, which approximates the straight-line attribution. The Company used significant judgment when it determined the product submission date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Under ASC 606, the consideration that the Company would be entitled to upon the achievement of contractual milestones, which are contingent upon the occurrence of future events, are a form of variable consideration. When assessing the portion, if any, of such milestones-related consideration to be included in the transaction price, the Company first assesses the most likely outcome for each milestone and excludes the consideration related to milestones of which the occurrence is not considered the most likely outcome.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company then evaluates if any of the variable consideration determined in the first step is constrained by including in the transaction price variable consideration to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The Company used significant judgment when it determined the first step of variable consideration.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The potential future royalty consideration is also considered a form of variable consideration under ASC 606 as it is based on a percentage of potential future sales of the Company’s products. However, the Company applies the sales-based royalty exception and accordingly will recognize the sales-based royalty amounts when the related sale has occurred. To date, the Company has not recognized any royalty-related revenue.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As of December 31, 2022, an aggregate amount of $22,382 was allocated to the HTIT License Agreement, all of which were received through the balance sheet date. Through December 31, 2022, the Company recognized revenue associated with this agreement in the aggregate amount of $19,042 (of which $2,703 was recognized in the year ended December 31, 2022), and deferred the remaining amount of $3,340, which is presented as a contract liability on the consolidated balance sheet.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><i>Medicox</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On November 13, 2022, the Company entered into a distribution license agreement (“Medicox License Agreement”) with Medicox Co., Ltd. (“Medicox”). The Medicox License Agreement grants Medicox an exclusive license to apply for regulatory approval and distribute ORMD-0801 in the Republic of Korea. For further details, see note 6f.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Under ASC 606, the Company identified Medicox as a customer and the Medicox License Agreement as a contract with a customer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company identified a performance obligation in the Medicox License Agreement to stand-ready and provide Medicox with support in its commercialization efforts in the Republic of Korea. This performance obligation includes a non-distinct distribution license for ORMD-0801, which the Company views a predominant item in the combined performance obligation. The Company concluded that the license is not distinct, as no party other than the Company is capable of providing related services to Medicox, and both the license and related services are necessary for the customer to obtain a regulatory approval in the Republic of Korea. In addition, the agreement covers the terms of future manufacturing services, that are contingent on the completion and success of the commercialization efforts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Medicox License Agreement contains a fixed consideration of $2,000, which was received by the Company as of December 31, 2022 and is presented under long-term deferred revenues. It also contains variable consideration of contractual milestone payments and sales-based royalties.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company’s obligation to stand-ready and support Medicox will be recognized on a straight-line basis over the period the Company expects to provide support to Medicox. As of December 31, 2022, this support has not commenced, and no revenue was recognized from the Medicox License Agreement.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">If Medicox proceeds with the regulatory approval process in the Republic of Korea, the Company expects most of the revenue to be recognized in 2024, going forward. The Company notes that its Phase 3 trial did not meet its primary and secondary endpoints (see note 13). If Medicox chooses to terminate the agreement as a result of the outcome of the Phase 3 trials, the Company will accelerate revenue recognition and recognize it in 2023. </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p>
CY2022 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
19042000 usd
CY2022 ormp Deferred Revenue Recognized
DeferredRevenueRecognized
2703000 usd
CY2022 ormp Deferred Revenue Recognized Remaining Amount
DeferredRevenueRecognizedRemainingAmount
3340000 usd
CY2022Q3 ormp Nonrefundable Payment
NonrefundablePayment
2000 usd
CY2022 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
3356203 shares
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
3894588 shares
CY2021 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
5042299 shares
CY2021Q3 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P5Y
CY2022Q4 us-gaap Deposit Assets
DepositAssets
111513000 usd
CY2021Q4 us-gaap Deposit Assets
DepositAssets
111077000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
352000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
863000 usd
CY2022Q4 us-gaap Other Short Term Investments
OtherShortTermInvestments
85000 usd
CY2021Q4 us-gaap Other Short Term Investments
OtherShortTermInvestments
337000 usd
CY2022Q4 us-gaap Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
3306000 usd
CY2021Q4 us-gaap Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
6547000 usd
CY2022Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
3743000 usd
CY2021Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
7747000 usd
CY2021Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
3875000 usd
CY2022Q4 us-gaap Debt Securities Noncurrent
DebtSecuritiesNoncurrent
3743000 usd
CY2021Q4 us-gaap Debt Securities Noncurrent
DebtSecuritiesNoncurrent
11622000 usd
CY2022Q4 us-gaap Other Investments And Securities At Cost
OtherInvestmentsAndSecuritiesAtCost
595000 usd
CY2021Q4 us-gaap Other Investments And Securities At Cost
OtherInvestmentsAndSecuritiesAtCost
595000 usd
CY2022Q4 us-gaap Other Investments
OtherInvestments
1000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
3306000 usd
CY2022 ormp Gross Unrealized Gainslosses
GrossUnrealizedGainslosses
-82000 usd
CY2022Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
3224000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
10422000 usd
CY2021 ormp Gross Unrealized Gainslosses
GrossUnrealizedGainslosses
-144000 usd
CY2021Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
10278000 usd
CY2022 us-gaap Debt Instrument Term
DebtInstrumentTerm
P1Y
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
25000 usd
CY2022Q4 us-gaap Derivative Fixed Interest Rate
DerivativeFixedInterestRate
0.0093 pure
CY2022Q4 us-gaap Long Term Debt Maturity Date
LongTermDebtMaturityDate
2023-08-10
CY2022Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
2175000 usd
CY2021Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
1692000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
529000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
1197000 usd
CY2022Q4 ormp Accounts Payable To Institutions
AccountsPayableToInstitutions
11000 usd
CY2021Q4 ormp Accounts Payable To Institutions
AccountsPayableToInstitutions
531000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
1443000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
1115000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
4158000 usd
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
4535000 usd
CY2022 us-gaap Broadcasters License Agreement Commitments Description
BroadcastersLicenseAgreementCommitmentsDescription
Pursuant to the HTIT License Agreement, HTIT will conduct, at its own expense, certain pre-commercialization and regulatory activities with respect to the Subsidiary’s technology and ORMD-0801 capsule, and will pay to the Subsidiary (i) royalties of 10% on net sales of the related commercialized products to be sold by HTIT in the Territory (“Royalties”), and (ii) an aggregate of $37,500, of which $3,000 was payable immediately, $8,000 will be paid subject to the Company entering into certain agreements with certain third parties, and $26,500 will be paid upon achievement of certain milestones and conditions. In the event that the Company does not meet certain conditions, the Royalties rate may be reduced to a minimum of 8%. Following the final expiration of the Company’s patents covering the technology in the Territory in 2033, the Royalties rate may be reduced, under certain circumstances, to 5%.
CY2022Q4 ormp Aggregate Amount
AggregateAmount
20500000 usd
CY2016Q1 ormp Initial Payment
InitialPayment
3000000 usd
CY2022 ormp Payment Obligation Disputed
PaymentObligationDisputed
6000000 usd
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
2000000 usd
CY2015Q4 ormp Stock Purchase Agreement With Htit
StockPurchaseAgreementWithHTIT
In addition, on November 30, 2015, the Company entered into the SPA with HTIT, according to which, the Company issued 1,155,367 shares of common stock to HTIT for $12,000. The transaction closed on December 28, 2015.
CY2022 ormp Total Consideration
TotalConsideration
49500000 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10617000 usd
CY2022 ormp Issuance Expense
IssuanceExpense
23000 usd
CY2015Q4 ormp License Agreement
LicenseAgreement
38883000 usd
CY2015Q3 ormp Non Refundable Amount
NonRefundableAmount
500000 usd
CY2022Q4 ormp Right Terminate Years
RightTerminateYears
P10Y
CY2020Q3 us-gaap Advances For Gas Exploration Development And Production Amount
AdvancesForGasExplorationDevelopmentAndProductionAmount
15000000 usd
CY2020Q3 ormp Development Received Amount
DevelopmentReceivedAmount
2000000 usd
CY2020Q3 ormp Royalty Percentage
RoyaltyPercentage
0.15 pure
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
2208000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
133000 usd
CY2022Q4 ormp Annual Lease Payment
AnnualLeasePayment
-124000 usd
CY2021Q4 ormp Annual Lease Payment
AnnualLeasePayment
-124000 ils
CY2022 us-gaap Other Expenses
OtherExpenses
264000 usd
CY2021 us-gaap Other Expenses
OtherExpenses
61000 usd
CY2021 us-gaap Other Expenses
OtherExpenses
124000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
987000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
500000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
247000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
130000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
647000 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
370000 usd
CY2022Q4 ormp Total Operating Lease Liabilities
TotalOperatingLeaseLiabilities
894000 usd
CY2021Q4 ormp Total Operating Lease Liabilities
TotalOperatingLeaseLiabilities
500000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y4M28D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M29D
CY2022 ormp Operating Leases Percentage
OperatingLeasesPercentage
0.0315 pure
CY2021 ormp Operating Leases Percentage
OperatingLeasesPercentage
0.03 pure
CY2022Q4 ormp Operating Leases Future Minimum Payments Due Current01
OperatingLeasesFutureMinimumPaymentsDueCurrent01
291000 usd
CY2022Q4 ormp Operating Leases Future Minimum Payments Due In Two Years1
OperatingLeasesFutureMinimumPaymentsDueInTwoYears1
291000 usd
CY2022Q4 ormp Operating Leases Future Minimum Payments Due In Three Years1
OperatingLeasesFutureMinimumPaymentsDueInThreeYears1
228000 usd
CY2022Q4 ormp Operating Leases Future Minimum Payments Due In Four Years1
OperatingLeasesFutureMinimumPaymentsDueInFourYears1
124000 usd
CY2022Q4 ormp Operating Leases Future Minimum Payments Due In Five Years1
OperatingLeasesFutureMinimumPaymentsDueInFiveYears1
10000 usd
CY2022Q4 ormp Lessee Operating Lease Liability Payments Due1
LesseeOperatingLeaseLiabilityPaymentsDue1
944000 usd
CY2022Q4 ormp Lessee Operating Lease Liability Payments Due2
LesseeOperatingLeaseLiabilityPaymentsDue2
50000 usd
CY2022Q4 ormp Present Value Of Leases Liabilitie
PresentValueOfLeasesLiabilitie
894000 usd
CY2022Q2 us-gaap Legal Fees
LegalFees
850000 usd
CY2022Q3 ormp Issued And Outstanding Percentage
IssuedAndOutstandingPercentage
0.05 pure
CY2019Q3 us-gaap Stock Issued During Period Shares Stock Splits
StockIssuedDuringPeriodSharesStockSplits
1000000 shares
CY2019Q3 us-gaap Shares Held In Employee Stock Option Plan Suspense Shares
SharesHeldInEmployeeStockOptionPlanSuspenseShares
563646 shares
CY2022 us-gaap Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
1823287 shares
CY2022Q4 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
273997 shares
CY2022 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
5129000 usd
CY2021Q3 ormp Sharebased Compensations Arrangement By Sharebased Payment Award Plan Modification Description And Terms
SharebasedCompensationsArrangementBySharebasedPaymentAwardPlanModificationDescriptionAndTerms
the Company entered into a controlled equity offering agreement (the “Cantor Equity Distribution Agreement”) with Cantor Fitzgerald & Co., as agent, pursuant to which the Company may issue and sell shares of its common stock having an aggregate offering price of up to $100,000, through a sales agent, subject to certain terms and conditions. Any shares sold will be sold pursuant to the Company’s effective shelf registration statement on Form S-3 including a prospectus dated July 26, 2021 and prospectus supplement dated September 1, 2021. The Company paid the sales agent a cash commission of 3.0% of the gross proceeds of the sale of any shares sold through the sales agent under the Cantor Equity Distribution Agreement. As of December 31, 2022 and through March 6, 2023, 1,778,147 and 1,971,447 shares were issued under the Cantor Equity Distribution Agreement for aggregate net proceeds of $23,823 and $26,253, respectively.   g. On November 3, 2021, the Company entered into a securities purchase agreement with several institutional and accredited investors (the “Purchasers”), pursuant to which the Company agreed to sell, in a registered direct offering (the “Offering”), an aggregate of 2,000,000 shares of the Company’s common stock to the Purchasers for an offering price of $25 per share. The closing of the sale of the shares occurred on November 5, 2021. The net proceeds to the Company from the Offering, after deducting the placement agent’s fees and expenses and the Company’s Offering expenses, were approximately $46,375.  
CY2022 ormp Issuance Of Common Stock
IssuanceOfCommonStock
150705 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
158375 shares
CY2021Q4 ormp Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice
4.78
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
232175 shares
CY2021Q3 ormp Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice
5.57
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
3407820 shares
CY2020Q3 ormp Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice
6.98
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
4200 shares
CY2022 ormp Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisesInPeriodWeightedAverageExercisePrice
4.8
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
73800 shares
ormp Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisesInPeriodWeightedAverageExercisePrice
7.25
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
3175645 shares
CY2021 ormp Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisesInPeriodWeightedAverageExercisePrice
7.07
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
3470 shares
CY2022 ormp Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Expired In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExpiredInPeriodWeightedAverageExercisePrice
7.81
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
150705 shares
CY2022Q4 ormp Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice
4.71
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
158375 shares
CY2021Q4 ormp Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice
4.78
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
232175 shares
CY2021Q3 ormp Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice
5.57
CY2022Q4 ormp Sharebased Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Number
SharebasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber
150705 shares
CY2022Q4 ormp Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercisable In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableInPeriodWeightedAverageExercisePrice
4.71
CY2021Q4 ormp Sharebased Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Number
SharebasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber
158375 shares
CY2021Q4 ormp Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercisable In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableInPeriodWeightedAverageExercisePrice
4.78
CY2021Q3 ormp Sharebased Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Number
SharebasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber
232175 shares
CY2021Q3 ormp Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercisable In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableInPeriodWeightedAverageExercisePrice
5.57
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
10.4
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
150000 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1987000 usd
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
10.4
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6107 pure
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0064 pure
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M15D
CY2021Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
680000 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
15000 shares
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.33
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
11.33
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6439 pure
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0076 pure
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M8D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
100000 shares
CY2021Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
15.1
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights
The options shall vest as follows: 12,500 on December 31, 2021, three equal annual installments of 25,000 on each of December 31, 2022, 2023 and 2024 and 12,500 on August 4, 2025.
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
37500 shares
CY2022 ormp Expired Terms
ExpiredTerms
2031-08-04
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
860000 usd
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
15.1
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6198 pure
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0082 pure
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M1D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Per Share Weighted Average Price Of Shares Purchased
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased
20.19
CY2021Q3 ormp Installment Description
InstallmentDescription
The options shall vest in four equal installments of 12,500 options on each of June 27, 2022, June 27, 2023, June 27, 2024 and June 27, 2025
CY2022 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
25000 usd
CY2022Q4 ormp Shares Held In Employee Stock Option Plan Suspense Shares1
SharesHeldInEmployeeStockOptionPlanSuspenseShares1
1572 shares
CY2022Q1 ormp Aggregate Shares
AggregateShares
150000 shares
CY2022Q1 us-gaap Shortterm Debt Fair Value
ShorttermDebtFairValue
2084000 usd
CY2022Q1 ormp Stock Based Compensation Description
StockBasedCompensationDescription
the Company granted an aggregate of 207,500 RSUs representing a right to receive shares of the Company’s common stock to the Company’s employees and members of the Board of Directors as follows: 63,000 to the President and Chief Executive Officer; 42,000 to the Chief Scientific Officer; 21,000 to the Chief Operating and Business Officer, 19,000 to the Chief Financial Officer and Treasurer, 19,000 to the Chief Commercial Officer, 18,000 to the Chief Legal Officer and Secretary (effective as of the time his employment with the Company commenced on January 9, 2022), an aggregate of 24,000 to four board members and 1,500 to an employee. The RSUs vest in four equal annual installments on each of January 1, 2023, 2024, 2025 and 2026. The total fair value of these RSUs on the date of grant was $2,849, using the quoted closing market share price of $13.89 on the Nasdaq Capital Market on the date of grant and $12.03 for the Chief Legal Officer’s grant (equivalent to the closing price of the Company’s common stock on January 10, 2022, which represents the first trading date after his employment with the Company commenced).
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
30000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
12.03
CY2022Q1 ormp Expired Terms
ExpiredTerms
2032-01-03
CY2022Q2 ormp Stock Based Compensation Description
StockBasedCompensationDescription
the Company granted 4,500 RSUs representing a right to receive shares of the Company’s common stock to Mr. Yadin Rozov, a member of the Company’s board of directors. The RSUs shall vest in four equal annual installments on each of May 2, 2023, 2024, 2025 and 2026. The total fair value of these RSUs on the date of grant was $23, using the quoted closing market share price of $5.14 on the Nasdaq Capital Market on the last trading day before the date of grant.
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
7500 shares
CY2022Q2 ormp Expired Terms
ExpiredTerms
2032-05-02
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
34000 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
8.47
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights
The options will vest in four annual installments as follows: the first installment vested immediately on the grant date and the remaining three installments shall vest on each of December 31, 2022, 2023 and 2024.
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
665000 usd
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.79
ormp Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumption Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionExpectedTerm1
P6Y1M28D
ormp Expected Stock Price Volatility
ExpectedStockPriceVolatility
0.6162 pure
ormp Risk Free Interest Rate
RiskFreeInterestRate
0.0093 pure
CY2022 ormp Expected Dividend Yield
ExpectedDividendYield
0 pure
ormp Expected Dividend Yield
ExpectedDividendYield
0 pure
CY2021 ormp Expected Dividend Yield
ExpectedDividendYield
0 pure
CY2021Q4 ormp Number Of Options Options Outstanding
NumberOfOptionsOptionsOutstanding
1942117 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.14
CY2021Q3 ormp Number Of Options Options Outstanding
NumberOfOptionsOptionsOutstanding
1905783 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.79
CY2020Q3 ormp Number Of Options Options Outstanding
NumberOfOptionsOptionsOutstanding
1597149 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.47
CY2022 ormp Share Based Compensation Arrangement By Number Of Options Granted
ShareBasedCompensationArrangementByNumberOfOptionsGranted
359000 shares
CY2022 ormp Share Based Compensation Arrangement By Weighted Average Exercise Price Granted
ShareBasedCompensationArrangementByWeightedAverageExercisePriceGranted
13.55
ormp Share Based Compensation Arrangement By Number Of Options Granted
ShareBasedCompensationArrangementByNumberOfOptionsGranted
50000 shares
ormp Share Based Compensation Arrangement By Weighted Average Exercise Price Granted
ShareBasedCompensationArrangementByWeightedAverageExercisePriceGranted
20.19
CY2021 ormp Share Based Compensation Arrangement By Number Of Options Granted
ShareBasedCompensationArrangementByNumberOfOptionsGranted
455000 shares
CY2021 ormp Share Based Compensation Arrangement By Weighted Average Exercise Price Granted
ShareBasedCompensationArrangementByWeightedAverageExercisePriceGranted
11.46
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
48334 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
10.59
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
52584 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.78
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
144000 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
4.08
CY2022 ormp Stock Issued During Period Shares Stock Options Exercised1
StockIssuedDuringPeriodSharesStockOptionsExercised1
67107 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.03
ormp Stock Issued During Period Shares Stock Options Exercised1
StockIssuedDuringPeriodSharesStockOptionsExercised1
13666 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
6.32
CY2021 ormp Stock Issued During Period Shares Stock Options Exercised1
StockIssuedDuringPeriodSharesStockOptionsExercised1
93782 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
6.42
CY2022Q4 ormp Number Of Options Options Outstanding
NumberOfOptionsOptionsOutstanding
2041676 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.47
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1261426 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecreaseWeightedAverageExercisePrice
6.86
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
852031 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecreaseWeightedAverageExercisePrice
6.22
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
859447 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.99
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.47
CY2021Q4 ormp Number Of Options Options Outstanding
NumberOfOptionsOptionsOutstanding
1942117 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.14
CY2021Q3 ormp Number Of Options Options Outstanding
NumberOfOptionsOptionsOutstanding
1905783 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.47
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
2041676 shares
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CY2021Q4 us-gaap Commitments And Contingencies
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