Galecto Announces Topline Results From Phase 2b GALACTIC-1 Trial Of GB0139 For Idiopathic Pulmonary Fibrosis; Trial Did Not Meet Its Primary Endpoint, Co. Plans To Discontinue Development Of GB0139
Portfolio Pulse from Benzinga Newsdesk
Galecto has announced the topline results from its Phase 2b GALACTIC-1 trial of GB0139 for Idiopathic Pulmonary Fibrosis. The trial did not meet its primary endpoint, leading the company to plan to discontinue the development of GB0139.

August 15, 2023 | 11:32 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Galecto's failure to meet the primary endpoint in its Phase 2b trial of GB0139 could negatively impact its stock price as the company plans to discontinue the drug's development.
The failure of a clinical trial often leads to a decrease in the stock price of a pharmaceutical company. In this case, Galecto's decision to discontinue the development of GB0139, a drug for Idiopathic Pulmonary Fibrosis, after failing to meet the primary endpoint in its Phase 2b trial, could lead to a decrease in its stock price. This is due to the potential loss of future revenues from the drug and the wasted resources in its development.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100