Galmed Pharma soars on under-the-tongue semaglutide development deal

Eocene

28/04/2025 15:32

** Shares of Israel-based drug developer Galmed Pharmaceuticals GLMD.O rise 45% to $2.28

** GLMD says it has signed an agreement with pharma firm Entomus to develop a new sublingual, under-the-tongue, formulation of semaglutide, a medication used to treat type 2 diabetes and obesity

** The new formulation uses a unique delivery system that allows the medication to be absorbed through the mouth and into the bloodstream, potentially reducing side effects and improving patient compliance, co says

** Cos have 90 days to finalize a definitive agreement covering milestone and royalty payments

** GLMD says it plans to target markets where semaglutide patents expire as early as 2026, including India, Brazil, Gulf countries, and others with high diabetes and obesity rates

** Including session moves, stock down 27% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))