Summary
- Galmed Pharmaceuticals announced its plan to reserve up to $10 million worth of virtual assets.
- The company revealed that up to 50% of its cash holdings will be used to purchase virtual assets.
- They plan to strengthen capital efficiency and long-term value creation by forming a Virtual Asset Committee to review the investment process.
Galmed Pharmaceuticals, a biotech pharmaceutical company listed on NASDAQ, has announced its plan to reserve up to $10 million worth of virtual assets (cryptocurrencies).
According to PR Newswire on the 25th (local time), Galmed announced in a press release, "The board of directors has approved a virtual asset management strategy," and added, "Up to 50% of the company's cash holdings (about $10 million) will be used to purchase virtual assets." It was also reported that Galmed has established an internal 'Virtual Asset Committee' to review the virtual asset investment process.
Allen Baharaff, CEO of Galmed, stated, "Through the reserve of virtual assets, we aim to enhance capital efficiency," and added, "We seek to create long-term value in the digital economy."
Son Min
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