Galmed Pharma (NASDAQ: GLMD) reported Q1 EPS of $0.29, $0.66 better than the analyst estimate of ($0.37).

"Over the last few years, Galmed has been in the process of developing a new product, Aramchol meglumine, which is a salt form of Aramchol free acid. It is important to note that Aramchol meglumine and Aramchol acid circulate as Aramchol regardless of which drug product is administered. The markedly higher solubility of Aramchol meglumine results in lower variability which is a significant added benefit. We are excited to share with you today this important development. By developing a salt version of Aramchol we are able to take the important step towards gaining patent protection on the drug until December 2034. We have long understood the importance of securing a meaningful period of patent protected opportunity for our drug as we plan for our Phase 3 and beyond," said Allen Baharaff, Chief Executive Officer of Galmed.

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