Welcome to our dedicated page for Galectin Therapeutics news (Ticker: GALT), a resource for investors and traders seeking the latest updates and insights on Galectin Therapeutics stock.
Galectin Therapeutics Inc. develops therapeutics that target galectin proteins, with its lead program focused on belapectin, a carbohydrate-based galectin-3 inhibitor for MASH cirrhosis and portal hypertension. Company updates commonly cover NAVIGATE clinical-trial results, biomarker analyses, medical-conference presentations, journal publications, and FDA communications related to the belapectin development program.
News also includes financial results, research and development spending, cash-resource updates, credit financing, board composition, and investor or key-opinion-leader events. Galectin has also described additional development interests in combination immunotherapy for advanced head and neck cancers and other malignancies.
Galectin Therapeutics (NASDAQ: GALT) has appointed Dr. Khurram Jamil as Chief Medical Officer, effective immediately. Dr. Jamil, who joined the company in March 2024 as VP of Clinical Development and Medical Director, brings over 20 years of experience in hepatology and drug development. He will lead the management of the NAVIGATE clinical trial for belapectin, a potential treatment for MASH cirrhosis.
The company expects interim top-line data from the Phase 2b portion of the NAVIGATE trial in December 2024. This trial is evaluating belapectin's efficacy in preventing esophageal varices in patients with cirrhosis due to MASH. The study has randomized 357 patients across 14 countries on five continents.
Galectin Therapeutics (NASDAQ:GALT) announced its participation in the European Association for the Study of the Liver (EASL) 2024 Congress, held June 5-8 in Milan, Italy. The company will present data from its belapectin program, highlighting the lack of correlation between collagen content in liver biopsies and portal pressure in MASH cirrhotic patients. Chief Medical Officer Pol Boudes emphasized the importance of using endoscopies to detect esophageal varices caused by increased portal pressure, rather than relying on liver biopsies. The presentation, titled 'Evaluating the correlation between portal pressure, collagen proportional area, and α-smooth muscle actin in patients with portal hypertension due to MASH cirrhosis,' will be available for EASL attendees and later on Galectin's website.
Galectin Therapeutics (NASDAQ: GALT) reported its Q1 2024 financial results and provided a business update. The NAVIGATE Phase 2b/3 trial of belapectin in liver cirrhosis due to MASH continues as planned, with an interim top-line readout expected late Q4 2024 after a positive fifth DSMB meeting.
Q1 financials show $23.6M in cash with an additional $10M available from a new line of credit. R&D expenses decreased to $8.1M from $8.8M YoY, while G&A expenses increased slightly to $1.6M from $1.5M. The net loss remained constant at $11.5M or ($0.19) per share YoY.
Corporate updates include the appointment of Dr. Khurram Jamil as VP of Clinical Development. The company mourns the loss of Dr. Stephen A. Harrison, a key figure in the belapectin program.
Galectin Therapeutics Inc. (NASDAQ: GALT) will participate in the H.C. Wainwright BioConnect Conference, presenting at the fireside chat on May 20, 2024, at 4:00 PM ET at the Nasdaq World Headquarters in New York City. The management team will be available for one-on-one meetings, and a webcast link will be provided on the Company's website.
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