Galectin Therapeutics Inc. - GALT STOCK NEWS

Galectin Therapeutics to present at H.C. Wainwright Conference

Galectin Therapeutics to present at the Paris NASH meeting on the use of AI in studying liver cirrhosis. They will share data from their previous phase 2 cirrhosis program and discuss their pivotal program on portal hypertension. They have collected over 500 video recordings of esophago-gastro-duodeno endoscopies.

Galectin Therapeutics, Inc. (NASDAQ: GALT) reported financial results and business update for the three months ended June 30, 2023. The company is optimistic about the progress of its NAVIGATE trial for the prevention of esophageal varices in patients with NASH cirrhosis. They also plan to evaluate a potential Phase 2 clinical trial of belapectin in combination with Keytruda© in patients with advanced head and neck cancers. The company reported a net loss applicable to common stockholders of $9.2 million for the three months ended June 30, 2023, compared to $9.7 million for the same period in 2022. As of June 30, 2023, the company had $18.0 million of cash and cash equivalents, with $30 million remaining available under a line of credit provided by its chairman.

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.

Galectin Therapeutics (NASDAQ: GALT) announced positive outcomes from its third Data and Safety Monitoring Board (DSMB) meeting for the NAVIGATE study, which evaluates belapectin for preventing esophageal varices in patients with liver cirrhosis due to non-alcoholic steatohepatitis (NASH). The global study includes 357 randomized patients across 14 countries. The DSMB confirmed that the trial can continue without changes, reinforcing confidence in belapectin's safety profile. Interim data from Phase 2b is anticipated in Q4 2024, highlighting the critical need for effective treatments as NASH prevalence rises, contributing to increased liver cirrhosis cases worldwide.

Galectin Therapeutics (NASDAQ: GALT) has completed patient enrollment for its NAVIGATE study, focusing on belapectin for liver cirrhosis caused by non-alcoholic steatohepatitis (NASH). The study exceeded its target, randomizing 357 patients across 14 countries, aiming to prevent esophageal varices in patients with portal hypertension. The treatment period for the phase 2b portion spans 18 months, with topline results anticipated in Q4 2024. The Chief Medical Officer expressed optimism regarding the potential benefits of belapectin, while the CEO highlighted the company's focus on efficient execution of its program following this milestone.