A mid-stage trial testing the Galmed Pharmaceuticals Ltd. candidate aramchol (arachidyl amido cholanoic acid) over 12 weeks found it made no apparent difference in liver fat for people with HIV-associated lipodystrophy and non-alcoholic fatty liver disease (NAFLD). While company shares (NASDAQ:GLMD) fell by 45.4 percent on the news, Galmed's chief scientific officer, Liat Hayardeny, told BioWorld that substantial differences in the pathogenesis of fatty liver in HIV and non-alcoholic steatohepatitis (NASH) – the focus of another aramchol trial due to read out next quarter – should quell concerns about any potential read-through.