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Galectin's lead product candidate shows treatment benefit in plaque psoriasis; shares up 11% premarket

Published 11/10/2016, 09:08 AM
Galectin's lead product candidate shows treatment benefit in plaque psoriasis; shares up 11% premarket
GALT
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  • Nano cap Galectin Therapeutics (NASDAQ:GALT) perks up 11% premarket, albeit on only 810 shares, in response to its announcement of positive interim results from a Phase 2a study assessing lead product candidate GR-MD-02 for the treatment of moderate-to-severe plaque psoriasis.
  • All five patients who have completed treatment with 8 mg/kg of GR-MD-02 administered every other week have shown clinical improvement as measured by a scale called PASI (Psoriasis Area and Severity Index), with an average of 52%. The patient with the most severe disease experienced a 72% improvement after 13 infusions over 24 weeks. Complete data will be presented at a future scientific conference.
  • The product candidate is also being investigated for the treatment of severe atopic dermatitis. The company has engaged a business development firm to assist it in recruiting a development partner in severe skin diseases.
  • GR-MD-02 is a complex carbohydrate drug that targets galectin-3, a protein that plays a key role in the pathogenesis of fatty liver disease and fibrosis. It was unsuccessful in demonstrating a significant treatment effect in patients with nonalcoholic steatohepatitis (NASH).
  • Previously: Galectin's GR-MD-02 flunks mid-stage NASH study; shares off 44% after hours (Sept. 27)

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