Aramchol Shows 3-4x Cell Death vs Enzalutamide in Prostate Cancer Models
GLMD sits 25% above its 52-week low of $0.411 on light trading volume (0.1× avg).
Summary
Galmed disclosed first-time preclinical results showing Aramchol combined with enzalutamide produced a 3-4 fold increase in prostate cancer cell death versus enzalutamide alone. This is a new indication for Aramchol, which has been primarily studied in liver disease and Parkinson's. The data could expand the drug's addressable market and attract partnership interest, though it remains early-stage. The company recently completed a 1-for-8 reverse split effective August 19 to regain Nasdaq compliance, and this news may support the stock's post-split valuation. Next steps would be confirmation in animal models and potential IND-enabling studies.
At the time of this announcement, GLMD was trading at $0.51 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $4.3M. The 52-week trading range was $0.41 to $1.65. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.