Why Is Galectin Stock Falling In Pre-market?

(RTTNews) - Galectin Therapeutics (GALT) reported results from NAVIGATE clinical trial evaluating belapectin in patients with Metabolic Dysfunction-Associated Steatohepatitis cirrhosis and portal hypertension. In the pre-specified per-protocol population, belapectin showed a statistically significant reduction in development of esophageal varices in 2mg/kg cohort compared to placebo. The company said, while there was a favorable trend for incidence of varices in the primary end point intent-to-treat population, belapectin did not achieve statistical significance.

The company said it is conducting the full analysis of the NAVIGATE trial data and anticipates having additional data from approximately 50 patients that have completed 36-months of treatment with belapectin in early 2025. Once available, Galectin will determine next steps for belapectin development.

Shares of Galectin Therapeutics are down 16% in pre-market trade on Friday.