Jamil Khurram, the Chief Medical (TASE:) Officer of Galectin Therapeutics Inc. (NASDAQ:), recently sold 13,654 shares of the company’s common stock. The shares were traded at an average price of $0.8821, which amounts to approximately $12,044. This transaction was executed under a previously disclosed 10b5-1 trading plan. The sale comes amid a challenging period for GALT, with the stock falling nearly 58% in the past week. According to InvestingPro analysis, the company’s shares are currently trading below their Fair Value, suggesting a potential upside opportunity.

In addition to the sale, Khurram acquired 40,000 shares of common stock for no additional consideration, resulting from the vesting of restricted stock units. Following these transactions, Khurram now owns 26,346 shares directly in the $52.76 million market cap company. InvestingPro subscribers can access 8 additional key insights about GALT’s financial health and market position, along with detailed insider trading analysis.

In other recent news, Galectin Therapeutics Inc. announced promising results from its NAVIGATE clinical trial. The trial aims to investigate the potential of belapectin in reducing the development of esophageal varices in patients with Metabolic Dysfunction-Associated Steatohepatitis (MASH) cirrhosis and portal hypertension. The trial included more than 130 sites worldwide and included 355 patients who received belapectin or a placebo for 18 months.

In the per-protocol population, those who completed the trial with required endoscopy, belapectin at 2mg/kg of lean body mass showed a 48.9% reduction in the incidence of varices compared to placebo. This result reached statistical significance. However, in the broader intention-to-treat population, the drug did not reach the primary point of statistical significance.

Additional findings from non-invasive measures showed a 50% lower number of subjects with worsening liver stiffness in those treated with belapectin. The safety profile of belapectin was also encouraging, with similar rates of adverse events in all groups. Despite facing financial challenges, as shown by a current ratio of 1.13 and negative earnings per share of -$0.73, Galectin Therapeutics remains optimistic about belapectin’s potential and is actively seeking pharmaceutical partnerships in continue his development.

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