Galmed Pharmaceuticals Reports First Quarter 2025 Financial Results and Provides Business Update

On May 22, 2025 Galmed Pharmaceuticals Ltd. (NASDAQ: GLMD) ("Galmed" or the "Company"), a clinical-stage biopharmaceutical company for cardiometabolic diseases and GI oncological indications, reported financial results for the three months ended March 31, 2025 and recent developments (Press release, Galmed Pharmaceuticals, MAY 22, 2025, View Source [SID1234653304]).

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Key Recent Developments

Announced First Time Results in Oncology Studies: Aramchol Significantly Enhances Bayer’s Regorafenib Effect in GI Cancer Models
Signed Term Sheet for the Development of Novel Semaglutide Sublingual Formulation
Raised $6.5 million since the beginning of 2025. Company’s current cash balance is $20.1 million
Financial Summary – First Quarter 2025 vs. First Quarter 2024*:

Cash and cash equivalents, short term deposits, restricted cash and marketable debt securities totaled approximately $15.9 million as of March 31, 2025, compared to approximately $15.4 million at December 31, 2024. During May 2025, the Company raised an additional $5.0 million. As a result, as of the date hereof, the Company’s current cash balance is approximately $20.1 million.
Net loss amounted to approximately $1.1 million, or $0.62 per share, for the three months ended March 31, 2025, compared to a net loss of approximately $1.3 million, or $2.76 per share, for the three months ended March 31, 2024.
Research and development expenses amounted to approximately $0.6 million for the three months ended March 31, 2025, compared to approximately $0.6 million for the three months ended March 31, 2024.
General and administrative expenses amounted to approximately $0.6 million for the three months ended March 31, 2025, compared to approximately $0.8 million for the three months ended March 31, 2024. The decrease in general and administrative expenses for the three months ended March 31, 2023 resulted primarily from a decrease in professional services expenses.
Financial income, net amounted to approximately $0.2 million for the three months ended March 31, 2025, compared to financial income of $0.1 million for the three months ended March 31, 2024.