Miami, FL – February 13, 2019 (EmergingGrowth.com NewsWire) — EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on Galectin Therapeutics, Inc. (NYSE: GALT).
Galectin Therapeutics initiation details — Buy at B. Riley FBR; tgt $11 (4.46 ) :
B. Riley FBR initiates GALT with a Buy and price target of $11. GALT is a biotechnology company developing its lead clinical-stage candidate GR-MD-02, a galectin-3 inhibitor, for the treatment of cirrhotic nonalcoholic steatohepatitis, the most advanced form of NASH-related fibrosis where firm has seen two recent failures from Gilead Sciences (NASDAQ: GILD) and Conatus Pharmaceuticals (NASDAQ: CNAT).
GALT plans to initiate a Phase III trial shortly in this indication, following positive results from its Phase IIb NASH-CX trial in NASH cirrhosis patients without esophageal varices, which validated the robust treatment effects in reversing liver fibrosis and cirrhosis initially observed in preclinical models.
Beyond NASH, firm believes that immuno-oncology represents a source of upside for GALT, as key investigators continue to study GR-MD-02 in combination with Merck’s (NYSE: MRK) Keytruda in multiple cancer types. Lastly, recent improvement in GALT’s capital structure and the extension of the cash runway via non-diluted funding makes GALT favorable for institutional investors, in firm’s opinion.
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