Galmed prices public offering of ordinary shares

20 June 2018

Israel-based biotech firm Galmed Pharmaceuticals (Nasdaq: GLMD) has priced its previously announced underwritten public offering of 5,000,000 ordinary shares, at a public offering price of $15.00 per share.

Galmed is a clinical-stage biopharmaceutical company focused on the development of the liver targeted SCD1 modulator Aramchol (arachidyl amido cholanoic acid), a once-daily, oral therapy for the treatment of non-alcoholic steatohepatitis (NASH).

The company's Nasdaq-listed stock jumped around 125% over the past two weeks after it announced a successful study of Aramchol on June 11. Its shares rose 5.23% to close at $15.69 on Tuesday.

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