Galectin Therapeutics Receives FDA Feedback to Advance Belapectin Development
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: NASDAQ.COM
- Positive FDA Feedback: Galectin Therapeutics received written feedback from the FDA on its Belapectin development program, indicating alignment on the proposed patient population for enrollment in a registration trial, which enhances the company's confidence in treating MASH cirrhosis.
- Fast Track Designation: Belapectin has been granted Fast Track designation by the FDA as a potential treatment for MASH cirrhosis, highlighting its market potential in a space with limited therapeutic options, which could lead to new revenue streams for the company.
- Financial Support: Galectin entered into a new $10 million unsecured convertible line of credit agreement with Chairman Richard E. Uihlein, expected to provide sufficient funding to support operations through at least March 2027, thereby strengthening its research and market advancement capabilities.
- Clinical Trial Planning: The company plans to extend the centralized, blinded endoscopy review method agreed upon with the FDA into its next study, aiming to optimize trial design and enhance Belapectin's clinical efficacy through new biomarker data.
GALT
$4.38+Infinity%1D
Analyst Views on GALT
Wall Street analysts forecast GALT stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for GALT is 6.00 USD with a low forecast of 6.00 USD and a high forecast of 6.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 6.160
Low
6.00
Averages
6.00
High
6.00
Current: 6.160
Low
6.00
Averages
6.00
High
6.00
About GALT
Galectin Therapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to developing therapies to improve the lives of patients with chronic liver disease and cancer. The Company’s drug candidates are based on its method of targeting galectin proteins, which are key mediators of biologic and pathologic functions. The Company’s lead drug, belapectin, is a carbohydrate-based drug that inhibits the galectin-3 protein, which is directly involved in multiple inflammatory, fibrotic, and malignant diseases for which it has Fast Track designation by the U.S. Food and Drug Administration. The lead development program is in metabolic dysfunction-associated steatohepatitis (MASH, formerly known as nonalcoholic steatohepatitis, or NASH) with cirrhosis, the most advanced form of MASH-related fibrosis. The Company's additional development programs are in the treatment of combination immunotherapy for advanced head and neck cancers and other malignancies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
