Galmed Pharmaceuticals Ltd. (NASDAQ: GLMD), a clinical-stage biopharmaceutical company focused on the development of therapies for the treatment of liver diseases and cholesterol gallstones, is today’s top stock that gained strong share price momentum on the filing of a provisional patent application on June 9, 2014 for the use of Aramchol for the treatment of Lipodystrophy, a condition found in HIV/AIDS and non-alcoholic fatty liver disease (NAFLD) patients characterized by degenerative conditions of body fat. In Galmed’s Phase IIa clinical trial of aramchol in 60 NAFLD patients, Galmed observed a significant reduction in liver fat and improvement of certain metabolic parameters. Galmed currently intends to seek potential collaborations with U.S. academic centers to explore the use of aramchol for the treatment of lipodystrophy.
In the last session, GLMD was among the top performers in the U.S. healthcare sector after gaining 16% while recording significant volumes of 127,064 shares. During the past 5-trading sessions, GLMD surged 37% with 5-day daily average trading volumes of 48,788 shares. The stock has gained 40% in the past month with daily average trading volumes of 26,788 shares.
Company Description:
Galmed Pharmaceutical Ltd. (NASDAQ: GLMD) is a biopharmaceutical company. The company focuses on the development and commercialization of treatment of liver diseases and cholesterol gallstones. Galmed Pharmaceutical offers its products to the healthcare and medical industries.
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Source: Bloomberg
