Galectin Therapeutics (NASDAQ:GALT) is a leading developer of therapeutics that target galectin proteins to treat fibrosis and cancer. The company has made solid progress in developing its leading drug candidate, Belapectin, for the treatment of melanoma and head and neck cancer. However, given that the products in GALT’s pipeline are still far from ready for commercialization, is it worth betting on the stock now? Read on.Clinical stage biopharmaceutical company Galectin Therapeutics Inc. (GALT), which is based in Norcross, Ga., develops therapies for treating cancer, fibrotic and other diseases. Its product candidates include NAVIGATE for Non-alcoholic steatohepatitis (NASH) cirrhosis and cancer, which is in its Phase 2b/3 clinical trial, and Galectin-3 inhibitor for the treatment of liver fibrosis, which is in Phase III clinical trials.
Closing yesterday’s session at $2.59, the stock is trading 54.6% below its all-time high. Also, the stock has declined 26% over the past month and 6.8% over the past year. GALT is currently trading lower than its $3.65 and $2.82 respective 50-day and 200-day moving averages, which indicates a downtrend.
While recent positive results from GALT’s phase I clinical trial of Belapectin, in combination with KEYTRUDA, have garnered significant investor attention, given that its leading drug candidates are still in clinical trials, we believe it will take some time for the company to begin generating revenues and profit.