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Galmed Pharmaceuticals Ltd. (GLMD) Jumped On Phase 2 Study Results

Galmed Pharmaceuticals Ltd. (GLMD) reported results from its Phase 2 study of Aramchol 600mg Tuesday morning. The study demonstrated a statistically significant reduction in liver fat.

Moreover, significantly more patients treated with Aramchol 600mg vs. placebo showed NASH resolution without worsening of fibrosis in the 52-week biopsy, a regulatory approvable endpoint.

Galmed Pharmaceuticals gapped open sharply higher Tuesday, but pared its gains over the course of the trading session. Shares still held onto a gain of 10.59, closing at $17.59 on the highest volume of the year. The stock leaped to a new high for the year.

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