Galmed pharmaceuticals reports first quarter 2023 financial results and recent developments

Tel aviv, israel , june 1, 2023 /prnewswire/ -- galmed pharmaceuticals ltd. (nasdaq: glmd) ("galmed" or the "company"), a clinical-stage biopharmaceutical company for liver and fibro-inflammatory diseases reports financial results for the three months ended march 31, 2023 and recent developments recent developments initiated a new clinical program to evaluate its lead compound, aramchol meglumine for the treatment of primary sclerosing cholangitis (psc), a rare disease for which there is no approved treatment; phase 2 proof of concept psc study to be conducted in collaboration with the stravitz–sanyal institute for liver disease and metabolic health virginia commonwealth university; formed a strategic partnership with onkai, inc., leading an investment round of $6 million in onkai, an ai-powered digital platform that facilitates health equity in underserved communities across the us, enabling faster and diverse enrollment to clinical trials; the company is discontinuing its evaluation of strategic alternatives; and nasdaq notified the company that it regained compliance with the nasdaq minimum bid price rule.
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