Issue 000 | U.S. Pilot | US

GLMD

Galmed Pharmaceuticals Ltd.

Passing Verified 20-F | 2026-03-31 Filing currency: USD

Open Filing Back to Register

Margin of Safety 76.2%

GNNI internal calculation. Market context inputs are retained internally and are not displayed.

Current Assets: 18,627,000USD
Total Liabilities: 2,845,000USD
NCAV: 15,782,000USD
Cash: 3,985,000USD
NCAV per share: needs review
Evidence: 10 annual | 20 quarterly

Business Profile

Checklist-driven facts extracted from filing text. Missing fields stay visible.

Business profile not generated.

Run python -m application.cli.business_profile run --market US --one GLMD, then regenerate the site.

Known Unknowns

Medium | Share Count

Issue 000 does not yet evaluate share count trend or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric	2025-12-31 20-F USD	2024-12-31 20-F USD	2023-12-31 20-F USD	2022-12-31 20-F USD	2021-12-31 20-F USD	2020-12-31 20-F USD	2019-12-31 20-F USD	2018-12-31 20-F USD	2017-12-31 20-F USD	2016-12-31 20-F USD
Revenue	n/a	n/a	n/a	n/a	n/a	0	0	2,038,000	1,085,000	467,000
Operating Income	n/a	n/a	n/a	n/a	n/a	-30,210,000	-22,376,000	-10,715,000	-12,364,000	n/a
Net Income	-10,309,000	-7,517,000	-6,912,000	-17,866,000	-32,467,000	-28,771,000	-20,461,000	-9,856,000	-12,299,000	-16,953,000
Cash From Operations	-6,315,000	-5,880,000	-6,137,000	-18,501,000	-32,892,000	-26,287,000	-14,937,000	-9,023,000	-12,067,000	-12,129,000
Capex	n/a	n/a	n/a	-4,000	-11,000	-44,000	-12,000	-90,000	-12,000	-17,000
Free Cash Flow	n/a	n/a	n/a	-18,505,000	-32,903,000	-26,331,000	-14,949,000	-9,113,000	-12,079,000	-12,146,000
Cash And Equivalents	3,985,000	4,652,000	2,861,000	2,016,000	2,884,000	6,947,000	15,931,000	24,159,000	13,021,000	3,097,000
Accounts Receivable	n/a	672,000	480,000	825,000	1,125,000	812,000	827,000	218,000	155,000	284,000
Inventory	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Total Current Assets	18,627,000	16,124,000	13,239,000	14,724,000	36,054,000	51,811,000	76,430,000	90,406,000	19,152,000	15,732,000
Total Assets	18,627,000	18,500,000	16,629,000	16,561,000	36,605,000	52,381,000	77,139,000	90,600,000	19,643,000	16,450,000
Total Current Liabilities	2,845,000	2,173,000	2,750,000	3,094,000	5,879,000	8,012,000	6,934,000	2,706,000	3,848,000	4,579,000
Total Liabilities	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shareholders Equity	15,782,000	16,327,000	13,879,000	13,423,000	30,497,000	44,153,000	69,853,000	87,894,000	15,795,000	11,075,000
Shares Outstanding	6,581,390	1,654,428	5,045,324	25,203,396	25,088,414	21,325,975	21,139,385	21,018,919	14,435,161	12,149,226
Shares Outstanding Diluted	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	4,311,323	930,822	2,769,539	25,142,741	24,597,638	21,280,787	21,114,399	n/a	n/a	n/a
Weighted Avg Shares Basic	4,311,323	930,822	2,769,539	1,676,183	1,639,843	n/a	n/a	n/a	n/a	n/a

Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Metric	2025-12-31 20-F USD	2025-09-30 6-K USD	2025-06-30 6-K USD	2025-03-31 6-K USD	2024-12-31 6-K USD	2024-09-30 6-K USD	2024-06-30 6-K USD	2024-03-31 6-K USD	2023-12-31 6-K USD	2023-06-30 6-K USD	2023-03-31 6-K USD	2022-12-31 6-K USD	2022-06-30 6-K USD	2022-03-31 6-K USD	2021-12-31 6-K USD	2021-06-30 6-K USD	2021-03-31 6-K USD	2020-12-31 6-K USD	2020-06-30 6-K USD	2020-03-31 6-K USD
Revenue	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0	n/a	n/a
Operating Income	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-30,210,000	-12,278,000	n/a
Net Income	-115,000	-5,491,000	-3,599,000	-1,104,000	-7,517,000	-4,308,000	-2,394,000	-1,275,000	-6,912,000	-3,423,000	-1,830,000	-17,866,000	-9,877,000	-6,143,000	-32,467,000	-17,301,000	-8,905,000	-28,771,000	-11,589,000	-6,063,000
Cash From Operations	n/a	-4,370,000	-2,435,000	n/a	-5,880,000	-3,972,000	-2,847,000	n/a	-6,137,000	-3,062,000	n/a	-18,501,000	-11,363,000	n/a	-32,892,000	-16,917,000	n/a	-26,287,000	-12,842,000	n/a
Capex	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-4,000	-3,000	n/a	-11,000	-8,000	n/a	-44,000	-5,000	n/a
Free Cash Flow	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-18,505,000	-11,366,000	n/a	-32,903,000	-16,925,000	n/a	-26,331,000	-12,847,000	n/a
Cash And Equivalents	3,985,000	3,314,000	4,964,000	n/a	4,652,000	n/a	1,837,000	n/a	2,861,000	1,009,000	n/a	2,016,000	1,980,000	n/a	2,884,000	7,923,000	n/a	6,947,000	5,553,000	n/a
Total Current Assets	18,627,000	19,724,000	21,084,000	n/a	16,124,000	n/a	10,076,000	n/a	13,239,000	9,786,000	n/a	14,724,000	23,130,000	n/a	36,054,000	51,665,000	n/a	51,811,000	64,211,000	n/a
Total Liabilities	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares Outstanding	6,581,390	5,479,231	5,303,050	n/a	1,664,884	n/a	6,358,747	n/a	5,045,324	n/a	n/a	1,680,232	25,088,414	n/a	25,088,414	25,083,914	n/a	21,325,975	21,153,166	n/a
Shares Outstanding Diluted	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	4,311,323	5,460,476	3,948,190	n/a	930,822	829,500	6,294,748	n/a	2,769,539	1,680,232	n/a	25,142,741	1,672,561	n/a	24,597,638	25,083,914	n/a	21,280,787	n/a	n/a
Weighted Avg Shares Basic	4,311,323	5,460,476	3,948,190	n/a	930,822	829,500	6,294,748	n/a	2,769,539	1,680,232	n/a	1,676,183	1,672,561	n/a	1,639,843	n/a	n/a	n/a	n/a	n/a

Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input	Value	Source concept	Filing period	Confidence	Provenance
Current Assets	18,627,000USD	derived	2025-12-31	1.00	n/a
Total Liabilities	n/a	derived	2025-12-31	n/a	n/a
Cash	3,985,000USD	derived	2025-12-31	1.00	n/a
Shares Outstanding	6,581,390	derived	2025-12-31	1.00	n/a
NCAV	n/a	derived	2025-12-31	n/a	company-evidence-v1 \| total_current_assets - total_liabilities
NCAV per share	n/a	derived	2025-12-31	n/a	company-evidence-v1 \| NCAV / shares_outstanding
Margin of Safety	76.2%	derived	2025-12-31	n/a	gnni_publication_pack \| internal_discount

NCAV could not be calculated because one or more inputs are missing.

Source Provenance

Data Source: Data Vault
Data Vault Root: D:\Projects\The Data Vault
CIK: 0001595353
Company ID: n/a
Selected Annual Source: D:\Projects\The Data Vault\objects\sec\companyfacts\cik=0001595353\companyfacts.json
Selected Quarterly Source: D:\Projects\The Data Vault\objects\sec\companyfacts\cik=0001595353\companyfacts.json
Statement Extractor: companyfacts-screener-v1
View Extractor: companyfacts-screener-v1
Source Accession Count: 17
Imported At: 2026-07-04T23:04:30+00:00
Rendered At: 2026-07-05T09:06:29+00:00

Run Audit

Mary Run: 1ec055d81d1a42a39490a83bb9e1f22f
Mary As Of: 2026-07-03
Accession: 0001493152-26-014182
CIK: 0001595353
Mary Filing Date: 2026-03-31
Filing Currency: USD
Internal Discount: 76.2%
Source State: Verified
Market Context: Not Displayed
Market Policy: internal_only_not_redistributed
Share Trend: Not Evaluated
Dilution: Needs Review

mary_run=1ec055d81d1a42a39490a83bb9e1f22f; mary_as_of=2026-07-03; mary_filing_date=2026-03-31; mary_accession=0001493152-26-014182; mary_cik=0001595353; gnni_supporting_filing_date=2026-03-31; internal_discount=0.762299; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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