Promise of NASH breakthrough sends Galmed stock soaring
Shares in Israeli biotech Galmed Pharmaceuticals (Nasdaq: GLMD) closed up more than 150% on Tuesday after the company revealed results that hint at a new treatment in one of pharma’s hottest therapy areas.
The company presented Phase IIb results on Aramchol (arachidyl amido cholanoic acid), an oral, once-daily, liver-targeted SCD1 modulator, for the treatment of non-alcoholic steatohepatitis (NASH).
Statistically significant reduction in liver fat was demonstrated by Magnetic Resonance Spectroscopy (MRS) in patients completing 52 weeks of treatment with Aramchol 400mg versus placebo, though not with a 600mg of the drug.
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