By: Adam Feuerstein | 07/28/14 - 12:34 PM EDT
$GALT paying penny stock promoters to issue misleading PRs posted to Y! —> http://t.co/iBFmHY3BNi payment -> http://t.co/F77XLw5dHU — Adam Feuerstein (@adamfeuerstein) July 25, 2014SeekingAlpha contributor Bleecker Street Research follows up on my tweet from Friday with more details on the financial ties between Galectin Therapeutics (GALT) and the penny-stock promotions firm Emerging Growth Corp. via its website SECFilings.com.
From a clinical stage perspective, Intercept is leading the race, having delivered positive data from a Phase 2 trial of obeticholic acid (OCA) earlier this year. Shares tripled on the news. Galectin, a newly-coined member of the Russell 2000, is nipping at Intercept's heels and actually may be closer than what first appears with a Phase 1 trial because of the potential to treat fatty liver disease even once it has progressed. What distinguishes their approach from others that the timing of intervention with their proprietary carbohydrate polymer drug GR-MD-02 may be largely irrelevant to outcomes, with GR-MD-02 seeming to work well even in advanced stages of liver fibrosis. This is especially important in fatty liver diseases because they are silent killers, often going undiagnosed for many years. The Galectin drug was granted FDA fast-track approval nearly a year ago.
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