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Galmed Pharmaceuticals Reports First Half 2014 Financial Results

reparation for the Phase IIb NASH trial of aramchol, including the initiation of and patient screening for such trial, as planned. We expect to report interim data by the third quarter of 2015 and top line data by the fourth quarter of 2016. We also expect to initiate a proof of concept study of aramchol for the dissolution and prevention of cholesterol gallstones in the current quarter and anticipate top-line results from this study before year end."

"In March, we completed an initial public offering of our ordinary shares, which generated net proceeds after deducting underwriting discounts, commissions and expenses of approximately $39.7 million," continued Mr. Baharaff.  "Based on our expected level of expenditures, including all clinical studies and research and development activities we believe necessary for the completion of our planned Phase IIb trial of aramchol in NASH patients, we expect our cash on hand to be sufficient to fund operations through mid 2017, subject, of course, to changes in our burn rate or plans in the future."

Conference Call Details
Galmed will host a conference call and webcast today at 8:30 a.m. EDT/5:30 a.m. PDT to discuss its financial results and to provide an update on current developments with respect to its clinical program for aramchol.

Conference Call & Webcast
Today, 8:30am EDT/5:30am PDT

Replay available until August 9:

About Galmed Pharmaceuticals Ltd.
Galmed is a clinical-stage biopharmaceutical company focused on the development and commercialization of a novel, once-daily, oral therapy for the treatment of liver diseases and cholesterol gallstones

SOURCE Galmed Pharmaceuticals Ltd.
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