Mon. 8 Nov 2021, 12:53pm ETBenzinga
In: Biotech, Earnings, Long Ideas, News, Penny Stocks, Health Care, Movers, Trading Ideas, General
- Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) has announced histology and biomarkers analysis results from the Ongoing Open-Label Part of the ARMOR Phase 3 study of Aramchol in NASH and liver fibrosis stage 1 3 patients.
- Galmed previously announced a substantial effect on fibrosis improvement in the 16 first patients.
- New analyses of biomarkers corroborate the effect showing statistically significant reductions in biomarkers associated with liver fibrosis.
- Histology data from the first 20 patients showed that 300mg BID resulted in clinically significant greater histological improvement in 12 out of 20 (60%) patients.
- Data is corroborated by biomarkers associated with liver fibrosis in approximately 50 patients providing the potential to predict similar histology responses in a larger cohort.
- Galmed also reported a smaller than expected Q3 loss of $(0.31), beating the consensus of $(0.36).
- Cash and cash equivalents, restricted cash, and marketable debt securities totaled $42.0 million.
- Price Action: GLMD shares are up 4.43% at $2.92 during the market session on the last check Monday.