Galmed Pharmaceuticals prices initial public offering of 2,837,400 shares

Galmed Pharmaceuticals Ltd. ("Galmed") today announced the pricing of its initial public offering of 2,837,400 ordinary shares at a public offering price of $13.50 per share, before underwriting discounts and commissions. Galmed has granted the underwriters an option for a period of 45 days to purchase, at the public offering price less the underwriting discount, up to 425,610 additional ordinary shares to cover over-allotments.  The shares to be issued in the offering have been approved for listing on the NASDAQ Capital Market and are expected to begin trading under the ticker symbol "GLMD" on March 13, 2014.

Maxim Group LLC is acting as sole book-running manager of the offering. MLV & Co. and Feltl and Company are acting as co-managers of the offering.

SOURCE Galmed Pharmaceuticals