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Galmed Pharmaceuticals Plunges 10.18% Amid Restructuring
Generated by AI AgentAinvest Movers Radar
Tuesday, Apr 29, 2025 4:44 am ET1min read
On April 29, 2025,
(NASDAQ:GLMD) experienced a significant drop of 10.18% in pre-market trading, marking a notable decline in its stock price.Galmed Pharmaceuticals has recently made strategic moves to enhance its portfolio. The company announced the signing of a binding term sheet with Entomus for a license agreement to develop and commercialize a novel semaglutide. This collaboration is aimed at advancing the development of innovative treatments for cardiometabolic diseases and GI oncological indications, reflecting Galmed's commitment to expanding its therapeutic offerings.
Additionally,
Pharmaceuticals has undergone a corporate action where shareholders will now hold one share for every twelve shares previously held. This action is part of a broader restructuring effort aimed at optimizing the company's capital structure and enhancing shareholder value.
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