Business
Galectin Therapeutics Reports Fiscal 2019 Financial Results and Provides Business Update
Addition of Pol F. Boudes, M.D. as Chief Medical Officer strengthens executive team for launch of Galectin’s NASH-RX trial for the prevention of esophageal
About this update from Galectin Therapeutics Inc.
[{"type":"text","content":"Addition of Pol F. Boudes, M.D. as Chief Medical Officer strengthens executive team for launch of Galectin’s NASH-RX trial for the prevention of esophageal varices in patients with NASH cirrhosis\nNORCROSS, Ga., March 16, 2020 (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 year ended December 31, 2019. These results are included in the Company's Annual Report on Form 10-K, which has been filed with the U.S. Securities and Exchange Commission and is available at www.sec.gov.\n Harold H. Shlevin, Ph.D., President and Chief Executive Officer of Galectin Therapeutics, said, “The focus of the past few months has been on finalizing the refinements to our planned NASH-RX trial based on feedback from the U.S. Food and Drug Administration (FDA). Our Adaptive-Designed Phase 2b/3 trial protocol is nearly complete, and we anticipate initiating the trial in the second quarter of 2020. We have been very successful working with our partners to modify our initial trial design, incorporating a new biostatistics element to verify the rate of varices development and accordingly adjust trial sizing to help assure a key assumption related to the rate of varices development is met. Most recently, we strengthened our executive team with the addition of Dr. Pol F. Boudes, a Chief Medical Officer who has experience running NASH drug trials. In addition, as a result of the modifications to our trial, our clinical research organization Covance has been able to identify additional international clinical trial sites. Drug manufacturing capacity has been established to meet the needs of the entire trial. Belapectin (formerly known as GR-MD-02) is the first drug that has been shown to prevent the development of esophageal varices in patients with compensated NASH cirrhosis. If confirmed, these results would constitute a significant benefit for patients.” Richard E. Uihlein, Chairman of the Board, added, “I am extremely pleased with the progress achieved over the past few months. We are now in the final stages of finalizing our NASH-RX trial, which improves the likelihood of showing belapectin’s effects. And, with the recent addition of Dr. Boudes as Chief Medical Officer, we have a strong executive with e...