Galmed Pharmaceuticals Strengthens Financial Position Amid Losses

Galmed Pharmaceuticals (GLMD) has released an update.

Galmed Pharmaceuticals reported a significant increase in cash and cash equivalents, totaling $9.7 million as of September 30, 2024, compared to $2.9 million at the end of 2023, despite a net loss of $1.9 million for the third quarter. The company’s total assets grew to $21 million, driven by an increase in stockholders’ equity, reflecting a strategic financial position that may attract investor attention. This financial update highlights Galmed’s efforts to strengthen its balance sheet amid ongoing research and development activities.

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