Galmed Plunges 10.18% on Partnership, Restructuring News

On April 29, 2025, Galmed's stock price experienced a significant drop of 10.18% during pre-market trading, marking a notable decline in its market performance.

Galmed Pharmaceuticals, a clinical-stage biopharmaceutical company focusing on cardiometabolic diseases and GI oncological indications, recently announced a significant development. The company has signed a binding term sheet with Entomus for a license agreement to develop and commercialize a novel semaglutide. This strategic partnership aims to leverage Galmed's expertise in biopharmaceuticals and Entomus's innovative technology to advance the treatment of cardiometabolic diseases and GI oncological indications.

Additionally, Galmed Pharmaceuticals has undergone a corporate action where shareholders will now hold one share of Galmed Pharmaceuticals Limited for every 12 shares previously held. This action is part of a broader restructuring effort aimed at enhancing shareholder value and streamlining the company's operations.