Revenue Update on Galectin Therapeutics Inc(NASDAQ:GALT)

Galectin Therapeutics Inc(NASDAQ:GALT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Earnings per share were $-0.20. Analysts had estimated an EPS of $-0.24.

Galectin Therapeutics Inc (GALT) shares turned negative on Wednesdays trading session with the shares closing down -0.0099 points or -0.53% at a volume of 60,769. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.92. The peak price level was also seen at $1.92 while the days lowest was $1.81. Finally the shares closed at $1.8701. The 52-week high of the shares is $3.2499 while the 52-week low is $1.08. According to the latest information available, the market cap of the company is $55 M.

Several Insider Transactions has been reported to the SEC. On Apr 21, 2016, James C Czirr (director) sold 44,312 shares at $1.65 per share price.Also, On Jan 7, 2016, Arthur Greenberg (director) purchased 1,666 shares at $1.72 per share price.On Dec 2, 2015, Gilbert F Amelio (director) sold 100 shares at $2.10 per share price, according to the Form-4 filing with the securities and exchange commission.

Galectin Therapeutics Inc. is a biopharmaceutical company engaged in drug research and development to create therapies for fibrotic disease and cancer. The company’s drug candidates are based on its method of targeting galectin proteins which are mediators of biologic and pathologic functions. It uses naturally occurring readily-available plant materials as starting material in manufacturing processes to create complex carbohydrates with specific molecular weights and other pharmaceutical properties. The Company has two compounds in development GRMD02 and GMCT01 both of which have shown promise in preclinical studies in treatment of fibrosis and in cancer therapy. The Company is focusing on the development of GRMD02 intended to be used in the treatment of liver fibrosis and fatty liver disease and in cancer therapy in combination with immunesystem modifying agent(s).

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *