GLMD - Galmed slips further as H.C. Wainwright cuts rating on uncertainty to NASH trial

Galmed Pharma (NASDAQ:GLMD) is trading lower for the second straight session after H.C. Wainwright downgraded the Israel-based biotech to Neutral on Tuesday, citing, among other things, uncertainty in its research into liver disease, non-alcoholic steato-hepatitis (NASH). Commenting on a registrational Phase 3 trial for its NASH candidate, Aramchol at the earnings call on Monday, Chief Executive of Galmed (GLMD) Allen Baharaff highlighted uncertainties impacting its initiation. H.C. Wainwright analyst Ed Arce notes that the trial, which was previously expected to start in 2022, has now been pushed back to 2H 2023. While the analyst continues to have a favorable view on the potential of Aramchol in treating NASH fibrosis, he downgrades Galmed (GLMD) due to hazy outlook surrounding its clinical, regulatory, and commercial timelines. Read more on the company’s 4Q 2021 financials.

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Galmed slips further as H.C. Wainwright cuts rating on uncertainty to NASH trial