Business
Galmed Pharmaceuticals Provides Business Update and Reports Second Quarter 2019 Financial Results
TEL AVIV, Israel, Aug. 5, 2019 /PRNewswire/ -- Galmed Pharmaceuticals Ltd. (Nasdaq: GLMD) ("Galmed" or the "Company"), a clinical-stage biopharmaceutical
About this update from Galmed Pharmaceuticals Ltd.
[{"type":"text","content":" TEL AVIV, Israel, Aug. 5, 2019 /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, a once-daily, oral therapy for the treatment of nonalcoholic steatohepatitis, or NASH, today provides business update and reports financial results for the three and six months ended June 30, 2019. The Company will host a conference call and webcast at 08:30 ET today.\n\n \nFinancial Summary - Second Quarter 2019 vs. Second Quarter 2018\nCash and cash equivalents, short-term deposits and marketable securities totaled $83.6 million as of June 30, 2019, compared to $90.2 million at December 31, 2018. Net loss of $4.2 million, or ($0.20) per share, for the three months ended June 30, 2019, compared to a net loss of $2.7 million, or ($0.17) per share, for the three months ended June 30, 2018. Research and development expenses amounted to approximately $3.5 million for the three months ended June 30, 2019, compared to approximately $1.9 million for the three months ended June 30, 2018. The increase resulted primarily from an increase in clinical and pre-clinical trial expenses. General and administrative expenses amounted to approximately $1.2 million for the three months ended June 30, 2019, compared to approximately $1.1 million for the three months ended June 30, 2018. Financial expenses amounted to $0.5 million for the three months ended June 30, 2019, compared to financial income of $0.1 million for the three months ended June 30, 2018. The increase primarily relates to an increase in financial income from financial assets. Conference Call & Webcast: Monday, August 5th @ 8:30am Eastern Time.Toll Free: 1-877-425-9470 Toll/International: 1-201-389-0878 Israel Toll Free: 1-809-406-247 Conference ID: 13692794 Webcast: http://public.viavid.com/index.php?id=135464 \nReplay Dial-In Numbers Toll Free: 1-844-512-2921 Toll/International: 1-412-317-6671 Replay Pin Number: 13692794 Replay Start: Monday August 5, 2019, 11:30 AM ET Replay Expiry: Monday August 19, 2019, 11:59 PM ET About Aramchol and Non-alcoholic Steatohepatitis (NASH)\nAramchol (arachidyl amido cholanoic acid) is a novel fatty acid bile acid conjugate, inducing beneficial modulation of intra-hepatic lipid metabolism. Aramchol's abili...