September 28, 2014 | The Israeli biotechnology company Galmed Pharmaceuticals announced that the US Food & Drug Administration (FDA) awarded the company with Fast Track Designation for its drug candidate Aramchol. Aramchol is a treatment for Non-Alcoholic Steato-Hepatitis (NASH), also known as ‘silent’ liver disease. Upon the announcement, the company’s share price rose 38.58 percent to $8.98 per share on Tuesday, reaching a market cap of $99.12 million. In March, Galmed held a NASDAQ IPO, raising $38 million at a company value of $137 million after money. Galmed Pharma was founded in 2000 by Mr. Allen Baharaff, the CEO and co-founder of the company, and has a number of international patents.
Subscribe to NoCamels weekly newsletter and get our top stories
Related posts
![](https://nocamels.com/wp-content/uploads/2018/02/INSIGHTEC-350x180.jpg)
Israeli Ultrasound Creator Collaborating On Neuroscience R&D In US
September 05, 2024
![The Weizmann Institute of Science. Photo via the Weizmann Institute of Science](https://nocamels.com/wp-content/uploads/2018/07/weizmann-350x252.jpg)
Weizmann In World’s Top 10 For Biomedical And Overall Research
September 05, 2024
![](https://nocamels.com/wp-content/uploads/2024/09/Depositphotos_75148477_L-350x228.jpg)
Israeli NGO Begins New Mental Health Training In Ukraine
September 04, 2024
![](https://nocamels.com/wp-content/uploads/2024/09/17123254699_79ff768811_ks-350x213.jpg)
Nonprofit Launches Loans For Stricken Northern Israel Businesses
September 04, 2024
Facebook comments