Business
Galectin Therapeutics Reports Financial Results for the Quarter Ended March 31, 2023 and Provides Business Update
NORCROSS, Ga., May 15, 2023 (GLOBE NEWSWIRE) -- Galectin Therapeutics, Inc. (NASDAQ: GALT), the leading developer of therapeutics that target galectin
About this update from Galectin Therapeutics Inc.
[{"type":"text","content":"NORCROSS, Ga., May 15, 2023 (GLOBE NEWSWIRE) -- Galectin Therapeutics, Inc. (NASDAQ: GALT), the leading developer of therapeutics that target galectin proteins, today reported financial results and provided a business update for the three months ended March 31, 2023. These results are included in the Company's Quarterly Report on Form 10-Q, which has been filed with the U.S. Securities and Exchange Commission and is available at www.sec.gov. Joel Lewis, Chief Executive Officer and President of Galectin Therapeutics, said: “Our entire team is actively engaged in oversight and management of our adaptively designed Phase 2b/3 NAVIGATE trial for the prevention of esophageal varices in patients with NASH cirrhosis, which completed randomization of 357 patients in February 2023. Our stated target remains obtaining interim analysis results from the Phase 2b portion in the fourth quarter of 2024. The Company’s results will be the first, and as of now, the only late-stage trial in compensated cirrhosis that has advanced to include portal hypertension caused by NASH. Currently, this patient population has no therapeutic option, other than liver transplantation. Additionally, we are continuing to evaluate options and develop plans for a potential Phase 2 clinical trial of belapectin in combination with Keytruda in patients with advanced head and neck cancers. Our team is fully committed to maximizing the value of our company for the stockholders by advancing our programs for patients.” Dr. Pol Boudes, Chief Medical Officer stated: “Joel and I were pleased to discuss our innovative NAVIGATE trial for the prevention of esophageal varices with Ed Arce, managing director of equity research at H.C. Wainwright on May 2, 2023. A replay of that discussion is available in the Investor Relations section of our website, www.galectintherapeutics.com. As we reiterated in that discussion, as compared to NASH pre-cirrhotic stages, cirrhosis of the liver is characterized by a distinct pathophysiology, with activated macrophages, the target of belapectin, playing a central role in the progression to portal hypertension and, ultimately, liver failure. We continue to be encouraged by the apparent high level of safety and tolerance of belapectin in the NAVIGATE patient population, and we remain optimistic that the NAVIGATE results can one day bring a therapy ...