** Shares of drug developer Galectin Therapeutics fall 28.8% to $1.41 in premarket trading
** Company's experimental drug, belapectin, to treat a fatty liver disease called metabolic dysfunction associated steatohepatitis (MASH) failed to meet the main goal in a clinical trial
** Company is testing belapectin in 355 patients with liver scarring and high blood pressure in the portal vein caused by MASH
** The drug did not reach statistical significance in the main goal of reducing esophageal varices or enlarged veins in the esophagus that can lead to bleeding - GALT
** The drug helped reduce the incidence of varices by 43.2% vs placebo, but "the composite endpoint did not reach statistical significance"
** The safety profile of belapectin remains highly encouraging with no drug-related serious adverse events reported in the trail - GALT
** Company says it will provide additional data in early 2025 and determine next steps for belapectin development
** Up to last close, stock up 20.5% YTD
(Reporting by Sneha S K)
((Sneha.SK@thomsonreuters.com;))
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