Galmed Pharmaceuticals Ltd. Files Annual Report on Form 20-F for the Fiscal Year Ended December 31, 2025

Rhea-AI Summary

Galmed Pharmaceuticals (Nasdaq: GLMD) filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. SEC on March 31, 2026. The report is available on the SEC website and Galmed's investor relations site, and copies are available on request.

Galmed remains a clinical-stage company focused on Aramchol for NASH, exploring combination therapies and oncological and cardiometabolic indications. The filing includes forward-looking statements and risk disclosures, including regulatory, clinical, financing and regional security risks.

News Market Reaction – GLMD

+8.16% 1.6x vol

3 alerts

+8.16% Session close to close

+7.0% Peak Tracked

$3.52M Market Cap

1.6x Rel. Volume

In the Apr 1 session, GLMD gained 8.16%, reflecting a notable positive market reaction. Argus tracked a peak move of +7.0% during that session. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. Trading volume was above average at 1.6x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved +8.2% in the session following this news. A strong positive reaction aligns with Gal...

Analysis

The stock moved +8.2% in the session following this news. A strong positive reaction aligns with Galmed’s history of moving with the tone of its news, as prior clinical and patent updates often preceded gains of 3–12%. However, with shares still 82.28% below the 2.68 52-week high and below the 1.2 200-day MA, sustainability would depend on follow-through from future clinical milestones and regulatory progress rather than this routine Form 20-F filing alone.

Key Figures

Fiscal year end: December 31, 2025

1 metrics

Fiscal year end December 31, 2025 Period covered by the filed Form 20-F

Historical Context

5 past events · Latest: Jan 30 (Negative)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jan 30	Nasdaq deficiency notice	Negative	-6.3%	Nasdaq notified GLMD it fell below the $1.00 minimum bid requirement.
Dec 08	Clinical abstract news	Positive	+8.0%	Late-breaking HEP-DART 2025 abstract with preclinical data for Aramchol combos.
Dec 04	Patent grant update	Positive	+5.6%	New use patent for Aramchol and Rezdiffra in MASH and fibrosis granted.
Dec 01	CEO shareholder letter	Positive	+3.7%	CEO detailed cash position, low burn, and positive Phase 3 ARMOR data.
Nov 26	Earnings and update	Neutral	+12.4%	Q3 2025 results with cash ~$19.2M, net loss, and R&D/G&A breakdown.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent history shows GLMD often moves in the same direction as its news tone, with positive clinical/IP and update headlines followed by positive price reactions, and regulatory or compliance setbacks coinciding with declines.

Recent Company History

Over the last six months, Galmed has alternated between clinical progress and listing/financial overhangs. In Nov–Dec 2025, patents, clinical abstracts, and a CEO letter around Aramchol, cash of $19.2M, and oncology/MASH plans all saw positive price reactions. The Q3 2025 results, despite a net loss, were also followed by a gain. By contrast, the Jan 30, 2026 Nasdaq minimum bid price notice triggered a negative move. Today’s Form 20-F filing fits the ongoing cadence of regulatory and corporate updates.

Key Terms

form 20-f, u.s. securities and exchange commission, nash, u.s. food and drug administration, +3 more

7 terms

form 20-f regulatory

"announced that it has filed its Annual Report on Form 20-F for the fiscal year"

Form 20-F is the standardized annual disclosure that non-U.S. companies must file with the U.S. securities regulator when their shares are traded in the U.S.; it contains audited financial statements, a plain-language description of the business, management discussion, governance details and key risk factors. It matters to investors because it provides a consistent, comparable company “report card” and rulebook, helping buyers assess financial health, governance and risks before investing.

u.s. securities and exchange commission regulatory

"for the fiscal year ended December 31, 2025, with the U.S. Securities and Exchange Commission"

The U.S. Securities and Exchange Commission is a government agency responsible for overseeing the stock market and protecting investors. It sets rules to ensure that companies share truthful information and that trading is fair, helping to maintain trust in the financial system. This oversight is important because it helps prevent fraud and ensures that investors can make informed decisions.

nash medical

"developing Aramchol for the treatment of combination therapy for NASH."

Nonalcoholic steatohepatitis (NASH) is a progressive liver condition where excess fat and inflammation damage liver cells, similar to how rust and corrosion slowly weaken metal. It matters to investors because NASH affects a large, growing patient population and currently has limited approved treatments, so successful drugs or tests can unlock substantial commercial and regulatory value while clinical trial results and approvals drive company valuations.

u.s. food and drug administration regulatory

"regulatory action with respect to Aramchol or any other product candidate by the U.S. Food and Drug Administration"

The U.S. Food and Drug Administration is the federal agency that evaluates and enforces safety, effectiveness and labeling standards for medicines, medical devices, vaccines, food and related products before they reach consumers. For investors it matters because FDA approvals, warnings or recalls determine whether a product can be sold, how quickly it reaches the market and how costly compliance will be—changes that directly affect a company’s revenue, costs and stock value.

fda regulatory

"by the U.S. Food and Drug Administration, or the FDA, or the European Medicines Authority"

The FDA is the U.S. federal agency that evaluates and approves medical drugs, devices, biological therapies and certain foods; think of it as the gatekeeper that decides whether a medical product is safe and effective for patients. For investors, FDA decisions determine whether a company can sell a product, affect expected revenue and introduce regulatory risk, so approvals, rejections or safety warnings can quickly move a company's valuation and stock price.

european medicines authority regulatory

"or the FDA, or the European Medicines Authority, or EMA, including but not limited to"

A European medicines authority is the regional regulator that reviews and decides whether medical treatments and vaccines are safe and effective for use across the European Union. Think of it like a building inspector for medicines: its approval opens the door to large markets and reimbursement, while delays or rejections can sharply affect a drug maker’s sales forecasts, development costs and therefore the company’s stock value and investor expectations.

marketing authorization regulatory

"including but not limited to acceptance of an application for marketing authorization, review and approval"

An official government approval that allows a drug, vaccine, or medical device to be sold and promoted in a specific country or region. Think of it as a safety and effectiveness passport issued after regulators review the product’s tests and manufacturing; for investors, receiving this authorization typically unlocks sales, revenue potential, and lower regulatory risk, while delays or denials can substantially affect a company’s value and timeline.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TEL AVIV, Israel, March 31, 2026 /PRNewswire/ -- Galmed Pharmaceuticals Ltd. (Nasdaq: GLMD) ("Galmed" or the "Company"), a clinical-stage biopharmaceutical company for liver, cardiometabolic diseases and GI oncological therapeutics, today announced that it has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025, with the U.S. Securities and Exchange Commission (the 'SEC'). 

The report is available on the SEC's website, at www.sec.gov and Galmed's Investor Relations website, at https://galmedpharma.investorroom.com/sec-filings.

Shareholders can obtain copies of Galmed's Annual Report on Form 20-F, free of charge, by making a request within a reasonable period of time to Galmed's Investor Relations Department at investor.relations@galmedpharma.com.

About Galmed Pharmaceuticals Ltd.

We are a biopharmaceutical company focused on the development of Aramchol. We have focused almost exclusively on developing Aramchol for the treatment of liver diseases, and continue to actively advance Aramchol for the treatment of combination therapy for NASH. We are also seeking to develop Aramchol for certain oncological indications outside of NASH and fibrosis. In addition, as part of our growth strategy, we are actively pursuing opportunities to expand and diversify our product pipeline specifically targeting cardiometabolic indications and other innovative product candidates that align with our core expertise in drug development.

Forward-Looking Statements

Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements. Forward-looking statements may include, but are not limited to, statements relating to the potential synergistic effect of Aramchol, Stivarga^® and Metformin as a new fixed-dose combination treatment, the expected timing of clinical trials, future clinical development and creating value for investors and stakeholders. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the development and approval of the use of Aramchol or any other product candidate for indications outside of non-alcoholic steatohepatitis, or NASH, also known as metabolic dysfunction-associated steatohepatitis, or MASH, and fibrosis or in combination therapy; the timing and cost of any pre-clinical or clinical trials of Aramchol or any other product candidate we develop; completion and receiving favorable results of any pre-clinical or clinical trial; regulatory action with respect to Aramchol or any other product candidate by the U.S. Food and Drug Administration, or the FDA, or the European Medicines Authority, or EMA, including but not limited to acceptance of an application for marketing authorization, review and approval of such application, and, if approved, the scope of the approved indication and labeling; the commercial launch and future sales of Aramchol and any future product candidates; our ability to comply with all applicable post-market regulatory requirements for Aramchol, or any other product candidate in the countries in which we seek to market the product; our ability to achieve favorable pricing for Aramchol, or any other product candidate; third-party payor reimbursement for Aramchol, or any other product candidate; our estimates regarding anticipated capital requirements and our needs for additional financing; market adoption of Aramchol or any other product candidate by physicians and patients; the timing, cost or other aspects of the commercial launch of Aramchol or any other product candidate; our ability to obtain and maintain adequate protection of our intellectual property; the possibility that we may face third-party claims of intellectual property infringement; our ability to manufacture our product candidates in commercial quantities, at an adequate quality or at an acceptable cost; our ability to establish adequate sales, marketing and distribution channels; intense competition in our industry, with competitors having substantially greater financial, technological, research and development, regulatory and clinical, manufacturing, marketing and sales, distribution and personnel resources than we do; our expectations regarding licensing, acquisitions and strategic operations; current or future unfavorable economic and market conditions and adverse developments with respect to financial institutions and associated liquidity risk; our ability to maintain the listing of our ordinary shares on The Nasdaq Capital Market; and the security, political and economic instability in the Middle East that could harm our business, including due to the current security situation in Israel. We believe these forward-looking statements are reasonable; however, these statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. We discuss many of these risks in our Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on March 31, 2026 in greater detail under the heading "Risk Factors." Given these uncertainties, you should not rely upon forward-looking statements as predictions of future events. All forward-looking statements attributable to us or persons acting on our behalf speak only as of the date hereof and are expressly qualified in their entirety by the cautionary statements included in this report. We undertake no obligations to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. In evaluating forward-looking statements, you should consider these risks and uncertainties.

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SOURCE Galmed Pharmaceuticals Ltd.

FAQ

What did Galmed (GLMD) file on March 31, 2026?

Galmed filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025. According to the company, the report is posted on the SEC website and the company's investor relations site and copies are available on request.

Where can investors access Galmed's (GLMD) 20-F for FY2025?

Investors can access the document on the SEC website and Galmed's investor relations site. According to the company, shareholders may also request free copies from investor relations via email within a reasonable time.

What development programs does Galmed (GLMD) highlight in the 20-F?

Galmed highlights development of Aramchol for NASH and combination therapies plus exploration of oncological and cardiometabolic indications. According to the company, Aramchol remains its primary clinical-stage program.

Does Galmed's 20-F mention risks that could affect GLMD shareholders?

Yes. The filing lists regulatory, clinical trial, financing, IP, commercialization and regional security risks. According to the company, these forward-looking statements reflect uncertainties that could materially affect results.

How does the 20-F describe Galmed's strategic priorities for Aramchol?

The company states it is advancing Aramchol for NASH, combination fixed-dose approaches, and certain oncological indications. According to the company, it is also pursuing pipeline diversification into cardiometabolic candidates.