Maxim Group LLC served as sole book-running manager for Galmed Pharmaceuticals, Inc.’s $44.1 million initial public offering.

Galmed Pharmaceuticals Ltd. (Nasdaq: GLMD) (“Galmed”) today announced the closing of its initial public offering of 3,263,010 ordinary shares at a public offering price of $13.50 per share, which included 425,610 ordinary shares issued upon the exercise in full of the underwriters’ option to purchase additional ordinary shares to cover over-allotments. The aggregate gross proceeds from the sale of the shares were approximately $44.1 million, before deducting underwriting discounts, commissions and other estimated offering expenses.

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