This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Regression Of Fibrosis After 4 Weeks Of Treatment With GR-MD-02 (Graphic: Business Wire)

Stocks in this article: GALT

Galectin Therapeutics Inc. (OTC: GALT), the leader in developing carbohydrate-based therapeutic compounds to inhibit galectin proteins, today issued the following corporate update to its shareholders:

Dear Galectin Therapeutics Stockholder:

As 2011 draws to a close we are very pleased to report the progress that Galectin Therapeutics has made in its mission to create new therapeutics based on its pioneering work in the area of galectin inhibition. In particular, we are proud of the accomplishments we have made in the brief period since the mid-year implementation of a refined corporate strategy. This strategy is designed to efficiently maximize the value of our unique scientific and medical leadership in this field. In conjunction with that announcement, we also unveiled our new Company name which, of course, reflects our expertise. This strategy, briefly, is to leverage our galectin expertise in the two therapeutic areas where our drugs have the best scientific rationale and which have the largest medical needs and markets: cancer and fibrosis. In this letter we would like to reflect on these accomplishments but, more importantly, look forward to the objectives we intend to achieve under this strategy in the year to come.

The Bright Future of Galectin Inhibition in Cancer Therapy

The promise of galectin inhibition to play an important role in cancer remains very strong. However, to provide the highest value for our development investments and have achievable short term milestones, Galectin Therapeutics has shifted its focus in cancer from use with standard chemotherapies to use in combination with cancer vaccines.

We have elected not to expend further corporate resources toward a U.S. approval for GM-CT-01 (DAVANAT®) in colorectal cancer at this time based on a number of factors. These factors include: the extensive cost of clinical trials of GM-CT-01 necessitated by current regulatory requirements, the results of colorectal cancer trials would not be available for nearly four years, the decline in use of intravenous 5-FU (the drug with which GM-CT-01 was used in combination), and the highly competitive treatment landscape for colorectal cancer.

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,075.06 +44.85 0.25%
S&P 500 2,086.55 +4.67 0.22%
NASDAQ 4,788.3620 +14.89 0.31%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs