Galectin Therapeutic (GALT) stock experienced a positive percentage increase of 3.93% in the current market, as last checked. However, the situation in the regular session differed. On April 13, 2021’s regular session, GALT stock closed at 2.165 USD per share, which is a -4.63% decrease from April 12, 2021’s regular session. The positive trend in the current market is the result of phase 1 of clinical research which showed that belapectin, galectin therapeutic’s galectin-3 inhibitor enhances the response of tumour when combined with anti-pd-1-therapy. This research was published by the Journal for Immuno Therapy of Cancer (JITC).
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What Does Galectin Therapeutics Inc. do?
Galectin Therapeutics Inc. is an American biotechnology firm, with major focus on the discovery and development of drugs and therapies. These drugs and therapies are majorly catering patients suffering from skin diseases, cancer, and chronic liver related illnesses. GALT uses modern forms to develop appropriate remedies with the use of carbohydrates which target galectin proteins,essential facilitators of biologic and pathologic functioning of a human body. The focus area of GALT is diseases which are life threatening, and which leave with limited options to patients, in terms of treatment.
How did GALT Stock Increase by More Than 30% in the Premarket?
GALT is the leading firm in the development of therapeutics, targeting galectin proteins. “Enhancing Clinical and Immunological Effects of anti-PD-1 with Belapectin, a Galectin-2 Inhibitor” was published recently in JITC which discussed the improvement of tumor response to immunotherapy in patients. As the paper got published, GALT experienced an increase in its stock price per share in the premarket session which was more than 30% in relation to the previous day’s session.
Future Developments of GALT
Press releases from the GALT’s management pointed towards hope that the development program by GALT will be able to treat liver diseases. GALT is also hopeful that it will be successful in cancer immunotherapy.