Galmed Pharmaceuticals Provides Additional Positive Data from the Open Label Part of ARMOR Study and Reports Third Quarter 2021 Financial Results

About this update from Galmed Pharmaceuticals Ltd.

[{"type":"text","content":"- Conference Call and Webcast Today at 8:30 a.m. ET / 5:30 a.m. PT -\n\n\nTEL AVIV, Israel, Nov. 8, 2021 /PRNewswire/ -- Galmed Pharmaceuticals Ltd. (Nasdaq: GLMD) (\"Galmed\" or the \"Company\"), a clinical-stage biopharmaceutical company focused on the development of the liver targeted SCD1 modulator Aramchol™, an oral therapy for the treatment of nonalcoholic steatohepatitis, or NASH and fibrosis, provides today updated information on the Company's scientific and clinical development programs and reports financial results for the three and nine months ended September 30, 2021.\n\n \n \n \n \n \n \n\n \nRecent Clinical & Scientific Developments\nAnnounced positive results of the efficacy of a higher daily Aramchol dose on fibrosis improvement of the first 16 patients in the ARMOR study Open Label Part. Data published as a late breaking abstract at the Liver Meeting organized by the American Association for the Study of Liver Diseases (AASLD) and will be featured in the December issue of the scientific journal Hepatology - Announced histology data from first 20 patients from the ARMOR study Open Label Part showing that treatment with Aramchol 300mg BID resulted in clinically significant greater histological improvement in 12 out of 20 (60%) of patients. Data is corroborated by biomarkers associated with liver fibrosis including ALT, AST, Fib-4 and ProC-3 in ~50 patient providing the potential to predict similar histology response in larger cohort -Results of Phase 2b ARREST Trial of Aramchol Published in Nature Medicine – FDA and MHRA Agree with Galmed's plan to use Aramchol meglumine in the randomized double-blind placebo-controlled part of the Phase 3 ARMOR study — Financial Summary – Third Quarter 2021 vs. Third Quarter 2020:\nCash and cash equivalents, restricted cash and marketable debt securities totaled $42.0 million as of September 30, 2021, compared to $50.9 million at December 31, 2020. Net loss amounted to $7.7 million, or $0.31 per share, for the three months ended September 30, 2021, compared to a net loss of $6.9 million, or $0.32 per share, for the three months ended September 30, 2020. Research and development expenses amounted to approximately $6.5 million for the three months ended September 30, 2021, compared to approximately $6.5 million for the three months ended September 30, 2020. General and administrati...

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