Galectin Therapeutics Inc. Common Stock (NASDAQ: GALT)
Galectin Therapeutics is having an incredibly strong day in the pre-market hours this morning. The gains come following the company’s announcement of positive clinical data. Below, we’ll talk about what we’re seeing from GALT, why the stock is headed upward, and what we’ll be watching for ahead.
What We’re Seeing From GALT
As mentioned above, Galectin Therapeutics is having an incredibly strong start to the day in the pre-market hours. Since the company released information with regard to a recent clinical study, the stock has been on a strong upward trend. Currently (9:10), GALT is trading at $1.93 per share after a gain of $0.12 or 6.63% thus far today.
Why The Stock Is Headed Up
As is nearly always the case, our partners at Trade Ideas were the first to inform us of the gains on GALT. As soon as we received the alert, the CNA Finance team started digging to see why the stock was running for the top. It didn’t take long to dig up the story. The gains seem to be the result of clinical data that was released early this morning.
In a press release, Galectin Therapeutics announced data with regard to GR-MD-O2. According to the data the treatment has demonstrated a clinically significant effect in patients that suffer from severe and refractory atopic dermatitis, also known as eczema. Of course, the positive clinical data led to excitement among investors, causing them to push the value of the stock upward.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on Galectin Therapeutics. In particular, we’ll continue to follow the company’s ongoing work in the treatment of eczema as the most recent data proves to be overwhelmingly positive. Nonetheless, we’ll continue to keep a close eye on the story and bring it to you as it breaks!
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