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Galmed Plunges 10.18% on Partnership, Restructuring News
Generated by AI AgentAinvest Movers Radar
Tuesday, Apr 29, 2025 4:54 am ET1min read
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,
has undergone a corporate action where shareholders will now hold one share of 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.
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