Galectin Therapeutics Inc. Common Stock (NASDAQ: GALT) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company released positive preliminary clinical data from a Phase 1b clinical trial of GR-MD-02. Of course, the data excited investors who are sending the stock on a run for the top. Today, we’ll talk about:
- The data;
- what we’re seeing from GALT as a result; and
- what we’ll be watching for with regard to the stock aehad.
GALT Releases Positive Clinical Data
As mentioned above, Galectin Therapeutics is having an incredibly strong start to the trading session this morning after the company released positive clinical data. In a press release issued early this morning, the company announced preliminary data from cohort 3 of Phse 1b trial of GR-MD-02. The trial is assessing the treatment in combintion with KEYTRUDA® (pembrolizumab) in patients with metastatic melanoma for which KEYTRUDA is indicated or patients whos melanoma progressed during or recently after KEYTRUDA monotherapy.
The clinical trial is being directed by principal investigator Brendan D. Curti, M.D., Director of the Providence Melanoma Program. Ultimately, GALT hoped to determine a safe dose of the treatment in combination and to measure the rate of response to the combination therapy. Both of which were achieved with objective response rates in 50% of patients and a disease control rate of 64%. In a statement, Dr. Curti, had the following to offer:
We are very encouraged by the objective response rate and the disease control rate observed in patients with advanced melanoma. These response rates were higher than expected with KEYTRUDA alone… An objective response rate of seven out of fourteen patients (50%) and a disease control rate of nine out of fourteen patients (64%) with advanced melanoma is very encouraging. The published objective response rates in randomized studies using KEYTRUDA in patients with advanced melanoma range from 21% in patients who have had prior therapy to 39% in patients who had not received prior systemic therapy. Importantly, the combination was also very well tolerated, and treatment appears to be associated with fewer adverse events than expected with KEYTRUDA alone.
What We’re Seeing From The Stock
One of the first lessons tht we learn when we start to dive into the market is that the news leads to moves. In the case of Galectin Therapeutics, the news proved to be overwhelmingly positive. With the strong clinical data, the company is now one step further long the path of developing GR-MD-02 and bringing it to the market. So, it comes as no surprise that excited investors are sending the stock on a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:49), GALT is trading t $6.40 per share after a gain of $0.35 per share or 5.79% thus far today.
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What We’ll Be Watching For Aehad
Moving forward, the CNA Finance team will continue to keep a close eye on GALT. In particular, we’re interested in following the story surrounding the company’s continued work to bring GR-MD-02 to market. Nonetheless, we’ll keep a close eye on the news and bring it to you as it breaks!
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