Shares climbed to $3.38 in midday trading Tuesday, offering a reprieve for investors after the company faced a 19% decline earlier this year. The company is currently refining its development strategy for belapectin, a drug designed to address metabolic dysfunction-associated steatohepatitis.
In section Market Quotes
Galectin Therapeutics Eyes Phase 3 Trial Following FDA Nod
A 21% surge in Galectin Therapeutics stock followed a constructive Type C meeting with federal regulators, clearing a path for the company to launch a late-stage trial. The biotech firm now aims to advance its treatment for cirrhosis and portal hypertension after securing alignment on key study parameters.
Chief Executive Officer Joel Lewis noted that the consensus reached with the FDA regarding primary endpoints and the regulatory framework allows for a more aggressive timeline. Galectin Therapeutics plans to submit its final Phase 3 protocol by the third quarter while simultaneously exploring potential strategic partnerships to support the program's advancement.
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