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GALMED PHARMACEUTICALS LTD.

(GLMD)
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Galmed Shares Up After FDA Agrees With Plan on Study

08/02/2021 | 06:30am EDT

By Michael Dabaie

Galmed Pharmaceuticals Ltd. said the U.S. Food and Drug Administration agreed with its plan to use Aramchol meglumine in its Phase 3 ARMOR study, sending shares higher in premarket trading.

The clinical-stage biopharmaceutical company for liver, metabolic and inflammatory diseases said the FDA agreed that Galmed can proceed with its proposed clinical studies with Aramchol meglumine in lieu of Aramchol free acid without the need to repeat nonclinical and clinical studies.

Shares were up 8% to $2.70 in premarket trading.

Galmed said Aramchol meglumine is an improved compound using a salt form of Aramchol that has significantly greater water solubility than the free acid. Aramchol meglumine contains the same active pharmaceutical ingredient called Aramchol, an oral therapy for the treatment of nonalcoholic steatohepatitis and fibrosis.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

08-02-21 0830ET

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Analyst Recommendations on GALMED PHARMACEUTICALS LTD.
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Financials (USD)
Sales 2021 - - -
Net income 2021 -35,7 M - -
Net Debt 2021 - - -
P/E ratio 2021 -2,10x
Yield 2021 -
Capitalization 73,0 M 73,0 M -
Capi. / Sales 2021 -
Capi. / Sales 2022 -
Nbr of Employees 21
Free-Float 86,0%
Chart GALMED PHARMACEUTICALS LTD.
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Technical analysis trends GALMED PHARMACEUTICALS LTD.
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 5
Last Close Price 2,91 $
Average target price 17,00 $
Spread / Average Target 484%
EPS Revisions
Managers and Directors
Allen Baharaff Chairman, President & Chief Executive Officer
Yohai Stenzler Chief Financial Officer
Liat Hayardeny Chief Scientific Officer
Guy Nehemya Chief Operating Officer
Shmuel Nir Independent Director
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