Shares of Galmed Pharmaceuticals Ltd. (GLMD) surged nearly 70% on Monday morning, despite no press releases from the company.
GLMD is currently trading at $3.0100, up $1.2300 or 69.1011%, on a large volume of 29 million shares, above average volume of 31 thousand, on the Nasdaq. The stock opened its trading at $2.2513 after closing Friday at $1.7800. The stock has traded between $1.6700 and $23.8000 in the past 52-week period.
Galmed Pharmaceuticals is a clinical stage drug development biopharmaceutical company for liver, metabolic and inflammatory diseases. Its lead compound, Aramchol, a backbone drug candidate for the treatment of NASH and fibrosis is currently in a Phase III registrational study.
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