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Shares of Galmed Pharmaceuticals (GLMD) soared more than 85% in pre-market trading on Thursday, after the biotech firm launched a new brain-penetrating formulation of its investigational drug Aramchol.
GLMD stock climbed above $1 in pre-market trading, a level it last reached on December 19. Thursday’s pre-market move comes after an 27% gain over the last five sessions.
The new Aramchol formulation uses lipid nanoparticles delivered via injection and is designed to cross the blood–brain barrier (BBB), a major obstacle that prevents most drugs from reaching the brain. This can be especially useful to treat central nervous system disorders like Parkinson’s disease.
The formulation was developed in collaboration with Barcode Nanotech.
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