Galectin Therapeutics Inc. (GALT)

[biotech2010]

Notes from the conference call:

-They have only done 4 patients and have 3 additional getting enrolled.
-Each of the 4 patients agreed to extend their treatment for 12 more weeks, that says they feel like there are benefits in addition to the better PASI scores-this includes the patient that had the lower level response.
-The total cost of this trial is $850K (including the extension of treatment) and is already factored into the financials
-They are interested in a partnership to continue with further trials but the data is new and has not been shared with anyone as of this date
-Vern Bernadino, one of the analysts that covers GALT, thinks the results are very impressive
-Other drugs approved by FDA have treatments ranging from 12 to 24 weeks with a PASI 75 improvement-the range is from the high 50s to low 80s, it does NOT mean that all patients reach 75.
-The other advanced 'biologics' that are being used for treatment have potential serious side effects, that's not an issue with GR-MD-02
-The initial trial wasn't able to enroll patients with very severe psoriasis where the typical Phase 3 trials for other biologics have many patients with PASI scores in the 17-low 20's, the next patient has does have a PASI score of 19; it's very possible that patients with the higher PASI scores will have a stronger response
-Dr Ritchie believes the patients in this trial are progressing in a manner similar to that with other biologics