Earning News Buzzer – Galmed Pharmaceuticals Ltd. (NASDAQ: GLMD)

Galmed Pharmaceuticals Ltd. (NASDAQ: GLMD) closed with change of -0.47% to $6.35 with the total traded volume of 37471 shares versus to an average volume of 108.73K. The stock was up in the 5 days activity 13.60%. The one month performance of stock was high -32.37%. GLMD shares are above -21.60% for the quarter and driving a 27.51% rally over the course of the past year and is now up -30.60% since this point in 2018.  Right now GLMD beta is 2.91. The average volatility for the week and month was at 10.66% 12.72% respectively.”

Galmed Pharmaceuticals Ltd. (NASDAQ: GLMD), 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 and other liver diseases, today announced financial results for the three and twelve months ended December 31, 2017.

Financial Summary – Full Year 2017 vs. Full Year 2016; 4Q17vs. 4Q16:

Cash and cash equivalents and marketable securities totaled $19.0 million as of December 31, 2017, compared with $15.5 million as of December 31, 2016. The increase is primarily attributable to the $15.1 million of net proceeds from the Company’s different equity offerings and partially offset by the Company’s net loss of approximately $12.3 million. Galmed believes that its cash balance will be sufficient to maintain its current operations through 2019.

For the three and twelve months ended December 31, 2017, the Company recorded a net loss of $3.6 million and $12.3 million or $0.27 and $0.98 per share, respectively, compared with a net loss of $4.8 million and $17.0 million, or $0.40 and $1.49 per share, for the three and twelve months ended December 31, 2016.

The Company recognized $1.1 million of revenue for the twelve months ended December 31, 2017, compared to $0.5 million for the same period in 2016. The revenue relates to the amortization of the up-front payments under the Company’s license agreement with Samil Pharm Co. Ltd. For the three months ended December 31, 2017, revenue totaled $0.3 million, the same as for the cooresponding period in 2016.

Research and development expenses were $9.7 million for the twelve months ended December 31, 2017, compared with $14.3 million for the twelve months ended December 31, 2016. For the three months ended December 31, 2017, research and development expenses totaled $2.2 million, which compares with $4.2 million for the same period in 2016.

The Company incurred general and administrative expenses of $3.8 million for the twelve months ended December 31, 2017, compared with $3.1 million for the twelve months ended December 31, 2016. For the three months ended December 31, 2017, general and administrative expenses totaled $1.7 million, which compares with $0.8 million for the same period in 2016.

Shares of Galmed Pharmaceuticals Ltd. have been recently spotted trading -48.04% off of the 52-week high price. On the other end, company shares have been noted 75.90% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 3.61 – 12.22. Switching over to some distances from popular moving averages, we see that the stock has been recorded -27.04% away from the 50 day moving average and -18.66% away from the 200 day moving average. Moving closer, we can see that shares have been trading 1.12% off of the 20-day moving average.

Dorian Mcburney

Dorian Mcburney

Dorian Mcburney is an author, journalist and CEO of the website. He has more than 5 years of experience in institutional investment markets, including fixed income, equities, derivatives and real estate. He has a Bachelor in Business Administration with a major in Finance. He bought his first stocks in a private business at age 15 and made his first public stock trade at 23. He has always been interested in the stock market and how it behaves. As the dad of two children, he’s made saving money and investing for them a high priority. Over many years of investing, he has made some wise choices and he’s made many mistakes. But he’s learned from both. Mr. Dorian observations and experience give him the insight to stock market patterns and the investor behaviors that create them. He reports about Earnings news category. Address: 4946 Melody Lane, FARMINGTON, Minnesota Email: Dorianmcburney@stocksgeeks.com Contact number: 804-446-7372

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