The animals were fasted for 12 hours before experiment, while allowing free access to water. Animals were anesthetized with 2% pentobarbital sodium (60 mg/kg) by intraperitoneal injection. After tracheotomy, the animals were ventilated with a positive pressure respirator (ALC-V8, Shanghai, China). The thorax was opened and ascending aortic stenosis was implemented by placing a silver clip (0.9-mm inside diameter) on the ascending aorta. Sham-operated animals underwent an identical procedure but without the clip12.

The consolidated financial statements have been prepared in accordance with United States Generally Accepted Accounting Principles ("U.S. GAAP").

The study is currently designed to consist of two parts. In the first part (histology-based) subjects will undergo biopsy, followed by treatment with Aramchol or matching placebo for 52 weeks until the second biopsy. The primary histology-based endpoint is expected to be NASH resolution without worsening of fibrosis or fibrosis improvement without NASH worsening.

Fair value is an exit price representing the amount that would be received upon selling an asset or that would be paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions used by market participants in pricing an asset or a liability.

The following table summarizes the Company’s marketable debt securities as of December 31, 2018 and 2017.

        In May 2018, the Company entered into a sales agreement (the "Sales Agreement") with Stifel, Nicolaus & Company, Incorporated ("Stifel") which permitted the Company to sell from time to time, at its option, up to an aggregate of $50.0 million of shares of its common stock through Stifel, as sales agent. In December 2018, the Company terminated the Sales Agreement. Prior to termination, the Company had not sold any Shares pursuant to the Sales Agreement.

During the extended period, the scope of protection is limited to "any use approved for the product" if the patent claims a product, and to "any use claimed by the patent and approved for the product" if the patent claims a method of using a product.[x] In Merck & Co., Inc. v. Kessler (1996), the Federal Circuit indicated that "the restoration period of the patent does not extend to all products protected by the patent but only to the product on which the extension was based."[xi]

Hinz, B. et al. The myofibroblast: one function, multiple origins. The American journal of pathology. 170, 1807–1816 (2007).

Basic net loss per share is computed based on the weighted-average number of shares outstanding during each year. Diluted net loss per share is computed based on the weighted-average number of shares outstanding during each year, plus the dilutive potential of the ordinary shares considered outstanding during the year, in accordance with ASC 260-10, “Earnings Per Share.”

Pursuant to the terms of the UCSD Agreement, we shall provide our proprietary drug product candidate Aramchol, without cost, to conduct the study as required pursuant to the Protocol and shall provide funds to conduct the ARTISAN Study over the duration of the study.

The Nasdaq Capital Market corporate governance requires each company adopting a nominating committee to certify that it has adopted a formal written charter or board resolution, as applicable, addressing the nominations process and such related matters as may be required under U.S. federal securities laws. Although not required as a foreign private issuer to adopt a nominating committee, we have decided to follow such requirement.

Alliance Pharma plc (LSE:APH.L ) is a specialty pharmaceutical group based in the United Kingdom and listed on AIM. Alliance now owns or licenses over 50 prescription products.