Galectin Therapeutics Inc. (GALT)

[biotech2010]

Explain how GALT's management team could possibly justify raising $4M at $1+ a share when there is a large investment pending from a major drug company like Merck. Talk about class action lawsuits...

Additionally, NVS just gave CNAT $50M plus up to $850M in payments in exchange to the rights to Emricasan, which already has 6 months of clinical trial data showing efficacy with an oral drug for Cirrhosis treatment.

NVS had to have looked at GALT as part of their due diligence on this investment along with every other company so now there are two major data points (TBRA, CNAT) that indicate that knowledgeable experts prefer something other than GR-MD-02.

Until GALT actually shows something in a clinical trial with merit this is dead money-no drug company is going to shower them with hundreds of millions when all they have is an early indication (as the Portland Phase 1 might be if it went well or the small number of patients treated for either Psoriasis or Atopic dermatitis) or even tens of millions of dollars.