Why Is Small Cap Galectin Therapeutics Stock Trading Lower On Friday?

On Friday, Galectin Therapeutics, Inc. (NASDAQ:GALT) released results from its global Phase2/3 NAVIGATE trial evaluating belapectin in patients with Metabolic Dysfunction-Associated Steatohepatitis (MASH) cirrhosis and portal hypertension.

355 patients were randomized. The primary endpoint was defined as the prevention of varices (abnormally dilated blood vessels that can occur in the veins, arteries, or lymphatic vessels), assessed as a composite clinical outcome that included subjects with any varices, those with intercurrent events, or those without an endoscopy or intercurrent events at 18 months.

Intercurrent events were defined as any liver-related complication, treatment discontinuation due to adverse events, use of non-selective beta-blockers.

In the intent-to-treat population (N=355), while the incidence of varices was 43.2% reduced in the belapectin 2 mg/kg dose group vs placebo, the composite endpoint did not reach statistical significance.

The per-protocol population was pre-defined as subjects who completed 18 months of therapy with upper endoscopy performed at baseline and 18 months.

In the PPP (n=290), the incidence of varices was reduced by 48.9% (compared to the targeted 52.5% reduction) in the belapectin 2 mg/kg dose group.

Additionally, the company is conducting the full NAVIGATE trial data analysis. It anticipates having additional data from approximately 50 patients who have completed 36 months of treatment with belapectin in early 2025.

Once available, Galectin will provide clinical updates and determine the next steps for belapectin development.

Price Action: GALT stock is down 59% at $0.80 at last check Friday. 

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