Galmed Pharmaceuticals Ltd(NASDAQ:GLMD) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 3, 2016. Earnings per share were $-0.39. Analysts had estimated an EPS of $-0.35.
Galmed Pharmaceuticals Ltd (GLMD) shares turned negative on Fridays trading session with the shares closing down -0.07 points or -1.69% at a volume of 34,106. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.24. The peak price level was also seen at $4.24 while the days lowest was $4. Finally the shares closed at $4.06. The 52-week high of the shares is $10.2 while the 52-week low is $3.5. According to the latest information available, the market cap of the company is $45 M.
Galmed Pharmaceuticals Ltd. is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of once-daily oral therapy for the treatment of liver diseases and cholesterol gallstones utilizing its synthetic fatty-acid/bile-acid conjugate or FABAC called aramchol. Its product candidate aramchol has the potential to be a disease modifying treatment for fatty liver disorders including Non-Alcoholic Steato-hepatitis (NASH) which constitutes an unmet medical need. The Company has completed three clinical trials of aramchol. The Company focuses on providing a multi-center double-blind randomized Phase IIb placebo-controlled clinical trial of aramchol in NASH patients who also suffer from obesity and insulin resistance. The Company is engaged in developing aramchol for the treatment of NASH in patients who also suffer from obesity and insulin resistance.