Any kind of positive regulatory news can be a big boost for most pharmaceutical stock and that is what seemed to have happened with the Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) stock on Monday.
Yesterday it emerged that the United States Food and Drug Administration agreed with the company’s decision to use Aramchol meglumine in the Phase 3 of ARMOR study. It goes without saying that the agreement from the regulatory body came as a major boost for the stock and the Galmed stock ended the day with gains of as much as 17% as investors piled on to the stock.
As a matter of fact, the company also considers the agreement from the FDA a big development since it validates the efforts that have been made by the company for making Aramchol as effective as possible. While the gains made by the stock yesterday were understandable, it is now going to be interesting to see if the developments from yesterday continued to have an effect on the stock or not. Hence, it might be a good idea for investors to continued to keep a keen eye on the latest developments with regards to Galmed Pharmaceuticals over the course of the coming days.
