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GLMD

Galmed Pharmaceuticals Ltd.

GLMD

Galmed Pharmaceuticals Ltd. • NASDAQ
$0.94 ▲ 1.74% (+0.02)
Market Cap $5.15 M
52w High $3.61
52w Low $0.74
Dividend Yield 0%
P/E -0.17
Volume 64.95K
Outstanding Shares 5.48M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $0 $2.109M ▲ $-2.495M ▼ 0% $-0.63 ▼ $-2.109M ▼
Q1-2025 $0 $1.264M ▼ $-1.104M ▲ 0% $-0.62 ▲ $-1.264M ▲
Q4-2024 $0 $1.644M ▼ $-3.209M ▼ 0% $-46.42 ▼ $-1.644M ▲
Q3-2024 $0 $2.011M ▲ $-1.914M ▼ 0% $-27.69 ▼ $-2.011M ▼
Q2-2024 $0 $1.222M $-1.119M 0% $-2.13 $-1.148M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $20.528M ▲ $22.944M ▲ $2.421M ▲ $20.523M ▲
Q1-2025 $15.729M ▲ $18.684M ▲ $1.807M ▼ $16.877M ▲
Q4-2024 $15.331M ▼ $18.5M ▼ $2.173M ▼ $16.327M ▼
Q3-2024 $17.14M ▲ $20.95M ▲ $2.514M ▲ $18.436M ▲
Q2-2024 $9.823M $13.341M $1.554M $11.787M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-2.495M ▼ $-1.268M ▼ $-4.569M ▼ $6.035M ▲ $198K ▲ $-1.268M ▼
Q1-2025 $-1.104M ▲ $-1.167M ▲ $-231K ▲ $1.514M ▲ $116K ▲ $-1.167M ▲
Q4-2024 $-3.209M ▼ $-1.969M ▼ $-3.549M ▼ $448K ▼ $-5.07M ▼ $-1.969M ▼
Q3-2024 $-1.914M ▼ $-1.064M ▼ $614K ▼ $8.338M ▲ $7.888M ▲ $-1.064M ▼
Q2-2024 $-1.119M $-1.017M $1.392M $0 $375K $-1.017M

Five-Year Company Overview

Income Statement

Income Statement The company has not generated any product or licensing revenue over the past several years, so its income statement is driven entirely by research and operating costs. Losses have been steady but relatively small in absolute terms, and they appear to have narrowed recently, likely due to cost cutting and a leaner operating structure. That said, this is still a pre-revenue biotech: the path to profitability depends entirely on successful clinical progress and eventual partnerships or approvals, none of which are guaranteed.

Balance Sheet

Balance Sheet The balance sheet is very light, with only modest assets and a small equity base remaining. The company carries essentially no financial debt, which reduces interest burdens, but cash levels look minimal, suggesting significant pressure to secure new funding. Over the past few years, assets and equity have trended down as losses accumulated, and the repeated reverse stock splits signal ongoing challenges with market valuation and capital structure. Overall, the balance sheet reflects a tiny, financially constrained clinical-stage biotech that is highly dependent on external capital.

Cash Flow

Cash Flow Cash flow is negative, driven by ongoing operating and R&D expenses and the absence of revenue. Operating cash burn has come down over time, consistent with a scaled-back cost structure, but it remains outflow-only. There is effectively no spending on physical assets, so free cash flow closely mirrors operating cash flow and is also negative. With very limited cash on hand, the company’s ability to fund its pipeline relies heavily on raising new equity, grants, or partnership funding, highlighting a key financial risk around liquidity and dilution.

Competitive Edge

Competitive Edge Galmed operates in highly competitive areas—liver disease, metabolic conditions, inflammatory disorders, and now oncology—where it faces much larger and better-funded pharmaceutical companies. Its main edge comes from being an early and focused developer of a novel SCD1 inhibitor, Aramchol, and from an aggressive patent strategy around its use and combinations. However, the overall market is crowded, the bar for clinical success is high, and the company’s small size and limited resources restrict its ability to run large trials, market products, or compete head‑to‑head with big pharma. Its most realistic competitive strength lies in being an attractive partner or acquisition candidate if its data are compelling.

Innovation and R&D

Innovation and R&D The company’s story is almost entirely about innovation. Aramchol targets a key metabolic enzyme in a novel way and has shown promising signals in liver fibrosis and MASH/NASH, and is now being explored in oncology combinations to boost the effectiveness of existing cancer drugs. A second asset, Amilo‑5MER, takes a differentiated approach to inflammatory and autoimmune diseases by blocking a specific driver of chronic inflammation. Both programs are supported by a layered patent portfolio extending well into the next decade, including combination-therapy protections and improved formulations. At the same time, most of this value is still experimental: clinical risk, regulatory uncertainty, and funding constraints are all substantial, and timelines can easily shift.

Summary

Galmed is a very small, pre‑revenue biotech whose value rests on a narrow but innovative pipeline rather than on its current financial strength. The financial statements show a lean operation with ongoing losses, minimal cash, no meaningful debt, and a heavy reliance on future fundraising. On the strategic side, the company has carved out a focused niche around Aramchol and related combination therapies, backed by an extensive patent estate and an expansion into oncology and inflammatory diseases. The opportunity is tied to the success of a few key programs and future trial results, while the main risks center on clinical outcomes, access to capital, potential dilution, and intense competition from larger players. Overall, this is an early‑stage, high‑uncertainty profile where scientific progress and financing will be the main drivers of the company’s future direction.

NEWS

November 26, 2025 · 8:30 AM UTC

Galmed Pharmaceuticals Reports Third Quarter 2025 Financial Results and Provides Business Update

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November 18, 2025 · 8:30 AM UTC

Galmed Announces Meaningful Top Line Results from AM-001 Study of Aramchol Meglumine

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November 17, 2025 · 8:30 AM UTC

Galmed Announces Top-line Results in Oncology MoA Studies: A 3-drug combination of Aramchol, Stivarga® and Metformin Significantly Enhanced GI Tumor Cells, Killing In-vivo and In-vitro

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