Material Event (Form 8-K)

Item 8.01 Other Events.

As previously disclosed in its Current Report on Form 8-K filed with the Securities and Exchange Commission on July 23, 2025, on July 22, 2025, Oramed Pharmaceuticals Inc. (the "Company") entered into an Option Agreement for the Repurchase of Warrants (the "Option Agreement") with Scilex Holding Company ("Scilex") pursuant to which, among other things, the Company granted to Scilex an option to repurchase warrants held by the Company to purchase an aggregate of 6,500,000 shares of Scilex's common stock, par value $0.0001 per share (the "Scilex Common Stock") at an exercise price of $0.01 per share (the "Subject Warrants") in two tranches for an aggregate purchase price of $27,000,000 (the "Warrant Repurchase"), subject to the terms and conditions set forth in the Option Agreement.

On September 30, 2025, Scilex repurchased Subject Warrants to purchase 3,130,000 shares of Scilex Common Stock for a purchase price of $13,000,000, representing the first tranche of the Warrant Repurchase. Pursuant and subject to the terms of the Option Agreement, Scilex continues to have the option to repurchase the remaining 3,370,000 Subject Warrants from the Company for a purchase price of $14,000,000 on or before December 31, 2025.