Why Galmed Pharmaceuticals Ltd Stock Is Going Gangbusters Today

Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) stock was flying high on Tuesday following positives results from a clinical study.

Why Galmed Pharmaceuticals Ltd Stock Is Going Gangbusters Today

The results come from GLMD’s Phase 2b ARREST study. This study was seeking to determine the effectiveness of using Aramchol to treat non-alcoholic steatohepatitis. The study lasted for 52 weeks and compared patients results from the start of the study to the end.

Galmed Pharmaceuticals Ltd’s Phase 2b ARREST study saw the company splitting up 247 patients with biopsy-proven NASH that were overweigh or obese into three groups. The first was a group taking 600mg of Aramchol. The second took 400mg of the drug and the third was the placebo group.

What was found in the study was that Aramchol was effective at reaching its primary endpoints. One of these was to find a statistically significant reduction in liver fat. This held true for both the 600mg and 400mg patients when compared to those taking the placebo.

The next primary endpoint that the study was looking for was how well the drug worked in treating patients without worsening fibrosis and NASH resolution. The results the company saw from the study were positive here as well.

Other good news for GLMD stock was that the drug didn’t have a high level of adverse events. Galmed Pharmaceuticals Ltd says that adverse events were experienced by 9.2% of patients on the 600mg dose and 8.9% on the 400mg dose. 12.5% of patients taking the placebo experienced adverse events.

GLMD stock was up 206% as of noon Tuesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2018/06/galmed-pharmaceuticals-stock-up/.

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