Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) gained 2.4% on Monday after CEO Allen Baharaff issued a shareholder update outlining the company’s strengthened financial footing and progress across several clinical programs.

The biopharmaceutical developer — which has broadened its pipeline beyond liver disease to include oncology and cardiometabolic conditions — ended the third quarter with roughly $19.2 million in cash and, as Baharaff noted, “practically zero debt.” He added that the company continues to operate with a lean quarterly cash burn of about $1.5 million.

Baharaff highlighted ongoing advancements with the company’s lead molecule, Aramchol. In metabolic dysfunction–associated steatohepatitis (MASH), he pointed to earlier Phase 3 open-label findings showing that 65% to 100% of patients exhibited improvement in fibrosis by week 48, depending on the assessment method used.

Galmed is currently developing a new sublingual formulation of Aramchol intended to support a fixed-dose combination with an already-approved metabolic therapy, which could pave the way for a Phase 2 MASH trial.

In oncology, the company recently shared preclinical data indicating that Aramchol may enhance the efficacy of Stivarga® (regorafenib) and potentially counter resistance to the drug. Galmed plans to move Aramchol into a Phase 1/2 study for metastatic colorectal cancer, hepatocellular carcinoma, and cholangiocarcinoma in early 2026.

The company is also pursuing a subcutaneous version of Aramchol to achieve greater systemic exposure for potential cardiometabolic and inflammatory indications.

Baharaff underscored the commercial opportunity in MASH, a condition affecting an estimated 22 million Americans and projected by analysts to represent a $16 billion market by 2033.

Galmed Pharmaceuticals stock price

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Some portions of this content may have been generated or assisted by artificial intelligence (AI) tools and been reviewed for accuracy and quality by our editorial team.