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.
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Galectin Therapeutics Inc. (NASDAQ: GALT) announced its participation in the H.C. Wainwright BioConnect Investment Conference on May 2, 2023. CEO Joel Lewis and CMO Dr. Pol F. Boudes will engage in a discussion about the NAVIGATE trial targeting NASH cirrhosis. A live webcast of the event will be available at 10:30 a.m. ET. Belapectin, the company's lead drug, targets galectin-3 and shows promise in reversing liver fibrosis. The NAVIGATE trial, evaluating belapectin's efficacy in preventing esophageal varices in NASH cirrhosis, has completed randomization with results expected in Q4 2024. NASH, affecting up to 28 million U.S. citizens, can lead to cirrhosis, where liver transplants are often the only treatment. The company aims to develop new therapies for chronic liver diseases and cancer.
Galectin Therapeutics, Inc. (NASDAQ: GALT) attended the 2023 Emerging Topic Conference on NASH Cirrhosis, organized by the American Association for the Study of Liver Diseases (AASLD) in Los Angeles on March 25-26, 2023. The conference targeted NASH cirrhosis, emphasizing its growing global health concern and the limitations of current treatment options, primarily liver transplantation. Galectin's NAVIGATE study is under review, focusing on the prevention of esophageal varices using belapectin, a galectin-3 inhibitor aimed at non-alcoholic steatohepatitis (NASH) patients. The conference discussed the critical role of liver macrophages and the challenges of using liver biopsies for diagnosing cirrhosis. Dr. Pol Boudes, Chief Medical Officer, highlighted the urgency of addressing NASH cirrhosis, with projections indicating a potential crisis in liver transplant availability in the U.S.
Galectin Therapeutics, Inc. (NASDAQ: GALT) reported a net loss of $38.9 million for the year ended December 31, 2022, equating to ($0.65) per share, increased from $30.7 million in 2021. This rise is attributed to higher research and development expenses of $31.7 million, primarily for the NAVIGATE trial, up from $23.8 million in 2021. The company has $18.6 million in cash, with $50 million available from a line of credit. The Phase 2b/3 NAVIGATE trial has randomized 357 patients and is expected to yield interim results in Q4 2024. The safety profile of belapectin remains promising, potentially addressing a significant therapeutic gap in NASH cirrhosis.