Galmed Pharmaceuticals Down 53%, But Still Well Above Monday Closing Price

Dow Jones09-19 01:37

By Josh Beckerman

Galmed Pharmaceuticals shares fell 53% to $7.09 Wednesday after a massive surge on heavy volume Tuesday.

The company said in a Monday securities filing that it regained compliance with Nasdaq's $1 bid price requirement. After Monday's close of $3.87, shares closed at $15.10 the next day on volume of over 98.5 million shares, compared with a 90-day average of about 1.1 million shares.

Galmed is developing Aramchol for liver and fibro-inflammatory diseases.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

September 18, 2024 13:37 ET (17:37 GMT)

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