Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

Therapeutics Developer Secures Patents, Continues Phase 3 Trial Planning

Source: Streetwise Reports

 

December 28, 2018 (Investorideas.com Newswire) An H.C. Wainwright & Co. report provided an update on the Q3/18 activities and achievements of this company targeting NASH.


In a Dec. 19 research note, H.C. Wainwright & Co. analyst Ed Arce reported that Galectin Therapeutics Inc. (GALT:NASDAQ) continues to advance its corporate programs while working to finalize the plan for a Phase 3 trial of its galectin-3 inhibitor, GR-MD-02, in patients with nonalcoholic steatohepatitis (NASH) cirrhosis without esophageal varices.

Those efforts pertaining to the Phase 3 study, Arce summarized, include incorporating and refining advice and guidance from the FDA and outside NASH experts. Additionally, the company's strategic adviser, Back Bay Life Science Advisors, continues discussions with potential partners about securing the rights to GR-MD-02. Galectin's management indicated it will announce the Phase 3 trial design and specifics, including cost and timeline, once planning is done and a protocol is in place that the FDA deems acceptable.

As for its financial standing, at the end of Q3/18, Galectin had $10.1 million in cash, Arce relayed. That, along with access to a $10 million credit line, is enough to fund operations and research and development activities through September 2019, management estimates.

H.C. Wainwright & Co. is confident Galectin will obtain the required capital for the Phase 3 trial. "We believe it likely," Arce noted, "that management finalizes and announces some type of agreement for longer-term financial stability (and perhaps a cleaner balance sheet) as well as sufficient funding to complete the Phase 3 NASH trial and, if successful, submit a new drug application."

Arce reported that in other news, the biotech expanded its collection of intellectual property during Q3/18, during which it was granted or allowed patents for:

1. Galactose-pronged carbohydrate compounds for treatment of diabetic nephropathy and related conditions (in Europe, Australia and China)

2. Composition of a unique carbohydrate drug for treatment of human disease (in Japan)

3. A method for enhancing certain immunotherapies (in China, Israel and Japan)

4. Compositions of distinctive carbohydrate drugs for treatment of NASH and nonalcoholic fatty liver disease (in Mexico and South Africa)

About this activity, Arce commented, "We view this as an incremental positive as it can only help with discussions with potential partners."

H.C. Wainwright affirmed its Buy rating and $13 per share target price on Galectin, which is currently trading at about $3.65 per share.

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are sponsors of Streetwise Reports: None. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from H.C. Wainwright & Co., Galectin Therapeutics Inc., Earnings Update, December 19, 2018

I, Ed Arce, certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies.

None of the research analysts or the research analyst’s household has a financial interest in the securities of Avenue Therapeutics, Inc. (including, without limitation, any option, right, warrant, future, long or short position).

As of November 30, 2018 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Galectin Therapeutics, Inc.

Neither the research analyst nor the Firm has any material conflict of interest in of which the research analyst knows or has reason to know at the time of publication of this research report.

The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services.

The Firm or its affiliates did not receive compensation from Galectin Therapeutics, Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report.

The Firm does not make a market in Galectin Therapeutics, Inc. as of the date of this research report.


BiotechIndustryStocks.com - A Leading Global Investor Website for Biotech Industry Stocks

BiotechIndustryStocks.com - investing ideas in biotechnology stocks, medical technology and life sciences

Like Biotech Stocks? View our Biotech Stocks Directory

Get News Alerts on Biotech Stocks


More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp