Galectin Therapeutics Inc. (GALT)

[biotech2010]

What seems to happen is that the funds tracking the Russell have deals in place with their MMs to inventory enough shares to cover their buying positions.

The MMs have a couple of weeks to collect that inventory and then transfer them with Market at Close orders.

There were almost 2M shares 'traded' at the close, that is more than 10% of the float that is now taken out of circulation for the next year.

While I enjoy sharing information with other shareholders regarding the developments and prospects for GALT, I have no interest in worthless arguments about the daily movements in the share price. I have spent way too much time involved in this over the past couple of weeks, mostly because I am a true believer in the prospects for the company.

I have a long standing position of over 7500 shares of GALTW plus some July calls and an extra 1200 shares of GALT purchased today. I am comfortable with my position (the effective cost of which is $0).

I may continue to post occasionally about the things that actually impact the company but this is my last post about what to expect regarding the short term prospects for the share price. I will simply ignore all those posts from this point forward.

As to the really important stuff about GALT, the two most important developments this week (and both of them have long term impact) are the addition of the company to a major index of growth stocks PLUS the press release regarding the successful completion of the Oral medication animal trial-we will look back on these event down the road and truly recognize that.