Galmed Pharmaceuticals down on delays to lead drug's mid-stage study

Eocene

21/11/2023 12:30

** Shares of Galmed Pharmaceuticals  GLMD.O  fall 16.7% to
36 cents in premarket trading
    ** Late Monday, the Tel Aviv-based biopharma co said that it
estimates a delay of 6-9 months in the initiation of a mid-stage
study of its lead drug, Aramchol Meglumine, for Primary
Sclerosing Cholangitis, a type of liver disease following Hamas'
attack in Israel on Oct. 7 
    ** GMLD also expects delays in its application for an
authorization of the drug as it also planned to complete another
early-stage study
    ** The disease Primary Sclerosing Cholangitis (PSC) is a
rare, long-term disorder in the tubes of the liver that carry
bile and can cause inflammation, scarring and liver damage
    ** Up to Monday's close, stock down 94.2% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))