- Thinly traded nano cap Galectin Therapeutics (NASDAQ:GALT) is up 27% premarket on increased volume in response to its announcement of results from a Phase 2b clinical trial, NASH-CX, evaluating lead candidate GR-MD-02 in NASH cirrhosis patients with portal hypertension.
- The study failed to achieve the primary endpoint of a statistically valid reduction in hepatic venous pressure gradient (HVPG) compared to placebo in all subjects.
- In a subset (50%) of participants, those without esophageal varices (dilated veins in the esophagus due to the pressure from portal hypertension), showed a statistically significant improvement in HVPG versus placebo.
- There were also statistically significant effects on improving hepatocyte ballooning (liver cell death) and reducing the development of new esophageal varices in patients without varices at baseline.
- In terms of absolute reductions in HVPG from baseline, there was a statistically significant greater proportion of responders without varices compared to placebo.
- The company intends to advance the program into Phase 3 development.
- Update: Shares are down 46% premarket on resumption of trading.
- Now read: Can The Big Rally In Adamas Pharmaceuticals Continue?
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