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This is long term play if they go alone - I am expecting a partnership or BO as they possibly run the trial alone.
500 patients -11 countries - 128 sites
12-14 month enrollment + 24 months from last patients for results - results in 2022
no interim readout
Very long road and only $44 million on hand
On other hand only Phase 3 NASH-CX trial on horizon - in reality only NASH-CX product to talk about.
My hope and expectation is - One of the top BP - BMY-MRK-PFE-Gild can just pay $50-100 million and lock them into collaboration
The only other P3 independent target is MDGL - trial started with end date 2024. The mc is $1.50 Billion + but it is in NASH-FX where few more BP players
So hoping that once protocol is approved - we may see collaboration and SP does not go below $2.50
Thanks for your insight. You sound like a really cool guy!
I bought 5,000 shares of GALT around this time in 2017 for under $2 and sold 4,500 when it broke above $8.50. I’ve been holding the balance ever since. This stock has big upside potential with key trials in the works, but it may take several months maybe 1-2 years before huge gains will be made (in my opinion). Looking to add again at the $1-$2 range and set my order to sell again at $8.50. This time I may hold on to more shares long-term depending on the fundamentals at that time.
This stock Has My Attention .
Took some nice gains on others companies I bought into . On several I'm
going to hold long term shares as well . I recently found this one and find
it most interesting . I like this price . Obviously on the edge of a breakthrough
without side effects . They need financing and will probably solve that . I see
insiders put their money where there mouth is and thats a great sign . Who
on this board owns this and please add to this discussion . I'm sure I will add
this stock to my portfolio and soon . Thank you
The science hasn’t helped CYDY. That’s why I’m here instead. Maybe I made the same mistake twice.
They are clearly going to have another update in the next 2 months. They said they submitted the FDA filing.
Management clearly has some issues with communications but the technology is sound so despite inept management this stock should be worth 500 million or more.
If you are long term oriented. Believe in the science it will not fail you.
Galectin Therapeutics a Potential $10 Billion Buyout, still valid?
https://emerginggrowth.com/galectin-therapeutics-inc-nasdaq-galt-a-potential-10-billion-buyout/
Biotechs' Second-Half Battle
https://seekingalpha.com/article/4276463-biotechs-second-half-battle
Agree - they are ahead of everyone in terms NASH-CX - literally no one is near where they are - no drug with P3 ready and good safety and P2 results.
Question of starting the P3 trial and/or convincing BP about their product so they collaborate or buy them out.
These trials are very long - long period of enrollment and min 48 weeks for efficacy - with many other companies, GLMD, MDGL, VKTX, GILD starting P2/P3 trials, NASH patients have high demand - it is very competitive. I would rather have some BP buy this co, let me make money even if not huge and move on.
I’m almost as disappointed in GALT as I am in CYDY. They are very similar in potential, market cap and sliding timelines.
So the P2 results were available last year, the fda meeting for P3 happened in Feb 2019. They raised money - more dilution
No start of the P3 trial and no updates. Not a good progress. From mgmt
They are in Nash fibrosis not CX
So CNAT failed in NASH-CX , who is left now? Just GALT and GILD
Big pharma’s billion-dollar bets
As patents lapse and funding on R&D is cut, big pharma is spending big money on risky takeovers to find the next blockbuster drug. In this animated film, Due Diligence's Arash Massoudi explains how Bristol-Myers Squibb’s $90B takeover of Celgene has set the stage for more to come in 2019.
As investors have exerted pressure on big pharma to cut back spending on research and development that can result in expensive disappointments, incumbents have been acquiring smaller competitors to replenish drug pipelines.
Nimble start-ups, in contrast, are not weighed down by legacy businesses and can focus on innovation. Many fail but those that succeed, or even show promise by producing just one drug, instantly become takeover targets.
Underpinning these acquisitions is a gamble. Should a big company buy a start-up that has potential but has not proven its worth? Or wait and miss out on a short cut to high returns and new products?
https://bigdeal.ft.com/videos/big-pharmas-billion-dollar-bets/?utm_source=TW&utm_medium=publishers&utm_content=image_card
Are you ssying the article posted on seekingalpha is bullshit? what's your take on GALT?
Nonsense
You need to sell and move on...
I am 99.999% sure the one who posted the link is also the author of the pumping article as well. He also posts as D-Coral on Stock Twits and Scorpion Something or Other on Yahoo and has posted about the article on both boards without taking credit for the article.
I don't know about anyone else but that lack of honesty puts anything he writes as complete bullsh*t, if you are so proud of your work TAKE CREDIT for it!
New article about GALT on Seeking Alpha, puts everything in perspective:
https://seekingalpha.com/article/4264254-Galectin-Therapeutics-Primed-For-Takeoff-After-The-Rights-Offering-And-New-Clinical-Evidence
I just oversubscribed for an additional 40% above my allotment. It was $5.50 per unit as expected. Of course that per unit price will be adjusted as indicated in the prospectus.
It was definitely wrong and corrected because I called the 'information line' on the offering and told them about the error
Looks like they did have it wrong originally then. Glad to see they corrected their mistake.
I received an amended, corrected Rights Offer notification from Schwab today, I put the correction in BOLD:
Offer details:
·Galectin Therapeutics Inc. (the Company) has distributed to holders, one (1) non-transferable subscription right for each common share held as of April 29, 2019 (the Record Date), to purchase up to 14,019,137 Units.
·Each (1) whole subscription right entitles the holder to purchase Units of Galectin Therapeutics Inc. at a subscription price of the lesser of (i) $5.50 (the "Initial Price") and (ii) ninety-five (95%) percent of the volume weighted average price of the common stock for the twenty-five trading day period through and including on the Expiration Date but not less than $4.00 per share (the Alternative Price). Fractional Units and or/shares will be rounded down the nearest Unit/share.
·Holders who exercise their rights will be required to pay the initial subscription price ($5.50) based on each whole common share received, as a result of the exercise.
¨For example:
ÑBasic Subscription Right: Number of rights exercised X ratio (1) = Number of Units
'Therefore, number of Units received x $5.50 (initial price) x 0.3 (ratio) = basic subscription payment.
ÑOversubscription Right: If you fully exercise your Basic Subscription Rights and wish to subscribe for additional Units you may exercise your Oversubscription Rights.
'For example: Number of Units received x $5.50 (initial price) X 0.3 (ratio)= oversubscription payment.
·If, on the Expiration Date, the Alternative Price is lower than the Initial Price, any excess subscription amounts paid by the holder will be put towards the purchase of additional Units.
·Each Unit consists of 0.3 shares of a Galectin Therapeutic common stock (sym: GALT) and one warrant.
What this means for your account.
You have the following choices:
·Basic exercise: You may exercise all or a portion of your subscription rights.
·Oversubscribe: Holders who exercise all of their basic rights may oversubscribe for additional Units, subject to availability, proration, and certain limitations.
·Decline or take no action: If you decline this offer or take no action, your subscription rights will expire and will have no value.
¨Please note: If you submit to decline the offer, you will not receive reminder notifications for this specific offer. If no response is received, you will receive reminder notifications up until the Schwab cut-off date.
Your next steps.
1.Please review in full the prospectus to ensure you understand the offer before making any decision with respect to your shares. If you have not received these offering materials or have questions about the offer, please contact the information agent, Broadridge Corporate Issuer Solutions, Inc., at (844) 886-5456.
2.If you choose to participate, please make sure that you have sufficient funds available to cover the total instruction.
3.Follow the steps below to provide your instructions to Schwab.
Please note:
1.The offer is scheduled to expire on May 23, 2019. In order for us to meet this deadline, we must receive your instructions by May 21, 2019.
2.At the time you submit your instructions, you must have sufficient funds available in your account to cover the total subscription costs. If sufficient funds are not available in the account at the time of the review, your instructions will be cancelled.
3.If oversubscription is available, you must submit your basic and oversubscription instructions at the same time.
4.Once you have given your instructions to Schwab, you cannot change or cancel your instructions unless the offer allows it.
Additional offer terms and conditions:
·Holders who exercise their rights in full may oversubscribe for additional Units at the same subscription price, subject to availability, proration, and certain limitations. Holders who wish to oversubscribe must give those instructions to Schwab at the same time as their basic subscription instructions and indicate the number of additional Units (not the number of rights) for which they wish to oversubscribe.
·Each whole warrant entitles the holder to purchase 0.075 shares of the Company's common stock at an exercise price of $7.00 per whole share. Each warrant will be exercisable from the date of issuance through its expiration 7 years from the date of issuance.
·This offering is not being offered in any jurisdiction where the offer is not permitted under applicable law. Residency restrictions may apply to stockholders outside of the United States; as such, acceptance is at the sole discretion of the Company.
·The Company reserves the right to amend, cancel, extend, or withdraw the offering in its sole discretion.
·Holders are urged to obtain a current price quote for Galectin Therapeutics Inc. common stock (symbol GALT) before exercising their subscription rights.
·The subscription rights are non-transferable and will not be listed on any exchange or other market.
·The Company does not intend list the common stock or the warrants for trading on the Nasdaq Capital Market or any other securities exchange or market.
·The common stock and the warrants comprising the Units will separate upon closing of the Rights Offering and will be issued separately.
STILL UNDERVALUED AT THIS PRICE
If I'm going to believe something it's the prospectus and official PR directly from the company. The prospectus is not wrong.
The GALT press release clearly states that the Rights Offering shares will be correct but the Schwab summary (and at least one other brokerage) is incorrect, it is either a GALT error or something else, I doubt that the brokerages both made the same mistake.
I can't confirm that is what Schwab sent you but if it is then they are clearly wrong.
I'm not misreading anything, there is a discrepancy between the original PR and the offering I received from Charles Schwab-point out to me in my last post (which is directly from the Schwab information) where they are the same.
You're misreading the prospectus.
This is directly from the prospectus:
The price for each share of common stock in the offering and the related warrant will be at the Initial Price (as defined below), which shall be paid in cash.
You are awarded units based on the number of shares that you own. So 1000 shares owned give you rights to 1000 units. You then get to buy 300 shares at the offering price. It specifically states that the offering price is for the shares you are purchasing. Not the units.
Here is the press release: http://investor.galectintherapeutics.com/news-releases/news-release-details/galectin-therapeutics-inc-announces-record-date-subscription
This is taken directly from the PR above.
Further by way of example, if the Initial Price ($5.50) is lower than the Alternate Price, then the stockholder choosing to buy the 1000 units will pay the sum of $1,650 ($5.50 x 1000 x 0.30).
The offering I received through TD Ameritrade says the purchase price for each share, not each unit. I subscribed and it worked out fine.
My math isn't wrong, I took what is in the brokerage offering and posted it.
Here it is the exact wording, it doesn't equate to what you are describing (which would be an equitable offering):
Offer details:
· Galectin Therapeutics Inc. (the Company) has distributed to holders, one (1) non-transferable subscription right for each common share
held as of April 29, 2019 (the Record Date), to purchase up to 14,019,137 Units.
· Each (1) subscription right entitles the holder to purchase one (1) Unit of Galectin Therapeutics Inc. at a subscription price of the lesser of
(i) $5.50 (the "Initial Price") and (ii) ninety-five (95%) percent of the volume weighted average price of the common stock for the twenty-five trading day
period through and including on the Expiration Date but not less than $4.00 per Unit (the Alternative Price). Fractional Units will not be issued.
· Holders who exercise their rights will be required to pay the initial subscription price ($5.50) for each right exercised.
¨ For example: A holder that exercises 100 rights would need to pay the initial subscription price of $550.00 (100 rights x initial
subscription price of $5.50) to receive 100 Units.
· If, on the Expiration Date, the Alternative Price is lower than the Initial Price, any excess subscription amounts paid by the
holder will be put towards the purchase of additional Units.
¨ For example: If the actual subscription price is determined to be $4.00 (100 rights x subscription price $4.00) and the excess
subscription amount paid equals $150 then holders would receive 37 additional Units ($150 divided by $4.00 = 37.5 Units), subject to proration.
· Each Unit consist of 0.3 shares of a Galectin Therapeutic common stock (sym: GALT) and one warrant.
The bolded sections indicate shareholders are buying one unit for the offering price and each unit is 0.3 shares plus 1 Warrant (14 Warrants equal 1 share).
I believe your math is wrong. I just subscribed through TD Ameritrade and they set it up with a simple online questionnaire. You can fully subscribe to purchase .3 shares for every share you currently own. If you own 1,000 share and fully subscribe you buy 300 shares between 4.00 and 5.50. My guess is it will end up around 4.50. You get the warrants for free.
You and the rest who are participating in the Rights Offering are giving GALT $3 a share for nothing to fund Ph3-no shares for that money, just a Warrant to purchase 1/14 of a share at an exercise price of $7.
It's really simple math, are you unable to understand it?
I appreciate your contribution, it will help fund Ph3.
I've sold most of my shares at a substantial profit but holding some in case they ever do something right.
That makes no sense.
Sell and move on and be happy
Please send all of your money to GALT for this offering as it will fund Ph3 and could make my shares more valuable without me spending anything, thank you.
To each his own
Ones I know are exercising and understand what are they doing? Why do you even own the stock if you are so bitter and say nothing positive.
Good luck.
This rights offering is a joke.
For anywhere from $4 to $5.50 you get the following:
-0.3 Shares of common stock (current value is $4.6x 0.3= $1.38)
-1 Warrant to purchase 0.075 common shares with an exercise price of $7-based on the above, the company is valuing this Warrant @ anywhere from $2.6-$4 a share, the stock would have to be in the $35-$40 range for this to be in the money at this price
I'm sure lots of shareholders will unknowingly exercise their rights and get screwed over, not me and not any other shareholder I know personally (I've already had a few look at this and come to the same conclusion).
BIVI >>> Clinically de-risked development program for treating related liver diseases.
https://www.biovieinc.com/wp-content/uploads/2019/01/BioVie-Non-Conf-Deck_Dec_2018.pdf
According to theory, but who really knows ?
We were at $5, The the official announcement of 30% increase in shares. Thus, the resulting 23% decrease in price. (Do the math; that’s right) So we should settle around $3.85.
Looks like 2-3 years of bad road with a lot of short pot holes along the way unless they sell,licence or partner up. I think a lot or traders where speculating on the buyout that was promised before the end of 2018.
Right, and I would expect $3.50 if this were a traditional offering. Not sure how low we will go with this.
It has been dropping the last few days since they released the particulars of the Stock subscription program.
It drops like this almost EVERY day in the morning hours. Comes back up in the afternoon. Probably not today though.
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