By Katherine Hamilton
Galectin Therapeutics shares fell after it said the endpoint of a liver-disease treatment trial didn't meet statistical significance.
The stock lost more than half its value, falling to about 91 cents midday Friday and hitting a 52-week low.
Galectin's said it hoped that the therapy, called belapectin, would prevent varices, which are abnormally dilated blood vessels.
While varices occurred 43% less when patients took belapectin, the composite endpoint wasn't statistically significant and there didn't appear to be increased efficacy when patients received a higher dose, the company said.
The company is performing further analysis on the data from the trial and anticipates having additional data in early 2025, at which point it will provide clinical updates and determine next steps for the treatment's development, it said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 20, 2024 14:44 ET (19:44 GMT)
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