Galectin Therapeutics Inc (NASDAQ:GALT) researches and develops ways to combat fibrotic disease and cancer. The company announced that their Phase 2a study called Nash-FX in regards to its GR-MD-02 therapy failed its main and secondary endpoints.
An analyst has commented on the current situation, "All three measurement methods used in the study, LiverMultiScan, FibroScan,and MRE, are innovative methods that are used to evaluate inflammation and liver stiffness, surrogates for fibrosis. We note that none of the methods are approvable FDA endpoints. Although patients had liver biopsy done at study initiation to establish the presence of fibrosis, no liver biopsies were conducted at trial end due to safety concerns (physicians are ambivalent about doing a liver biopsy more than once every 12 months)."
Followed with analyst downgrade by Roth Capital, GALT had reached a low of $1.13 this morning nearing the 52 week low of $1.08