Galmed buys Colospan with $800K extra cash
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- Galmed Pharmaceuticals finalized its acquisition of medical device company Colospan.
- Following the restructured transaction terms, the company's stock fell to 0.58 dollars.
- The buyout gives the company immediate commercial access to European colorectal device markets.
Galmed Pharmaceuticals (NASDAQ:GLMD) closed its Colospan acquisition, gaining a device tested on 97 patients.
This structural adjustment alters the initial terms that both companies originally negotiated earlier this year.
Restructured terms replace a $2M share issuance with an $800K cash payment.
The agreement includes an up-to-$2M tiered earnout scheduled to begin in Q3 2027.
Following the announcement, Galmed Pharmaceuticals' share price was down at $0.58.
The acquired CG-100 device is commercial-ready in Israel and the EU with a German code.
The company stated that the clinical technology may generate its first commercial revenues during 2026.
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