Galecto announces publication of GB0139 Phase 2a IPF results » 08:1411/3011/30/20
Galecto announced the…
Galecto announced the publication of a paper detailing full results from a phase 2a study of GB0139 in Idiopathic Pulmonary Fibrosis in the peer-reviewed publication European Respiratory Journal. The study highlights the effect of inhaled GB0139 in IPF patients on the plasma levels of highly relevant disease biomarkers, in particular YKL-40 and CCL-18, which have been shown to have prognostic significance in IPF. These and several other biomarkers were reduced in a dose dependent fashion from baseline in a consistent and statistically significant manner, with the strongest effects in the 10 mg dose group compared to placebo. GB0139, an inhaled small molecule inhibitor of galectin-3, a protein known to play a central role in fibrosis in several organs, has received Orphan Drug Designation from both the U.S. Food and Drug Administration and the European Medicines Agency for the treatment of IPF. The EMA cited clinically relevant biomarker data, in particular the significant reduction of YKL-40 in IPF patients, as a justification for the ODD designation. GB0139 was shown to be safe and well tolerated in healthy subjects and IPF patients in the phase 2a trial, and dose dependently suppressed expression of galectin-3, a protein known to play a central role in fibrosis in several organs, on alveolar macrophages. Galecto is now investigating GB0139 in the Phase 2b/3 GALACTIC-1 clinical trial in IPF. The trial is a pivotal size, randomized, double-blind, multicenter, parallel, placebo-controlled study across more than 100 centers in the U.S., the EU, and Canada, designed to evaluate the efficacy and safety of GB0139 in 450 subjects with IPF over 52 weeks.
|Over a week ago|
SVB Leerink bullish on Galecto, initiates with an Outperform » 08:5911/2311/23/20
As previously reported,…
As previously reported, SVB Leerink analyst Thomas Smith initiated coverage of Galecto with an Outperform rating and $27 price target. The analyst believes investor expectations for the company's GB2064 and GB1211 are modest, given the history of failure for similar programs by others in the past. However, he sees the potential for Galecto's differentiated small molecule approach, which may have optimized selectivity and tissue access to improve on target activity.
Galecto initiated with an Outperform at SVB Leerink » 06:3211/2311/23/20
SVB Leerink analyst…
SVB Leerink analyst Thomas Smith initiated coverage of Galecto with an Outperform rating and $27 price target.
Galecto initiated with an Outperform at Credit Suisse » 06:2911/2311/23/20
Credit Suisse analyst…
Credit Suisse analyst Martin Auster initiated coverage of Galecto with an Outperform rating and $29 price target. The company is developing GB0139, an inhaled treatment testing a novel target for idiopathic pulmonary fibrosis, Auster tells investors in a research note. The analyst sees "substantial growth potential" for this market.
Galecto initiated with a Buy at BofA » 06:1311/2311/23/20
BofA analyst Geoff…
BofA analyst Geoff Meacham initiated coverage of Galecto with a Buy rating and $21 price target. The company is advancing multiple anti-fibrotic agents targeting galectin-3 and LOXL2 through mid-stage clinical studies, Meacham tells investors in a research note. The analyst sees "key points of differentiation from competitors" and believes Galecto can compete on improved safety and demonstrated impact on fibrosis.
Galecto initiated with a Buy at BofA » 06:0411/2311/23/20
BofA initiated coverage…
BofA initiated coverage of Galecto with a Buy rating and $21 price target.
|Over a month ago|
Opening Day: MediaAlpha jumps 64%, Root falls flat in debut » 07:0911/0111/01/20
LU, LMND, DCT, AVIR, SQZ, LESL, ALGM, GLTO, BDSX, ROOT, MAX, GATO, CONX, NBA, DSAC, AJAX, LUXA, AIRB, CMPX, HOMS, WTM
MediaAlpha soared more…
Galecto opens at $15, IPO priced at $15 per share 10:3410/2910/29/20
Galecto indicated to open at $19.50, IPO priced at $15.00 » 10:2510/2910/29/20
Galecto (GLTO) priced…
Galecto (GLTO) priced 5.667M shares at $15.00. The deal range was $14.00-$16.00. BofA, SVB Leerink and Credit Suisse acted as joint book running managers for the offering.
Galecto 5.667M share IPO priced at $15.00 » 06:1710/2910/29/20
The deal range was…
The deal range was $14.00-$16.00. BofA, SVB Leerink and Credit Suisse acted as joint book running managers for the offering.