Galectin's Belapectin Misses Endpoint in Phase 3 Trials Causing Stock Plunge

Galectin Therapeutics' stock suffered a significant blow, plummeting by 54% following the announcement that their investigational drug belapectin failed to achieve the necessary statistical significance in reducing enlarged veins in patients with liver cirrhosis during its phase 3 trial[2]. The trial, named NAVIGATE, involved 355 patients and attempted to prevent esophageal varices, but while some reduction in varices was noted, it did not meet the crucial statistical threshold[2]. As a result of these trial results, Galectin's shares dropped over 35% in premarket trading, reflecting investor disappointment at this significant clinical setback[1].