Galectin Therapeutics Inc. (GALT)

[biotech2010]

I didn't 'turn on a dime', I said over a year ago that unless the CX trial was a success the company was dead.

The CX trial is a clear success regardless of how anyone spins it, they have a 1.5-2M patient population where it absolutely works. That, plus the Uehlein credit line, eliminate the issues with the company going forward while they work out a deal with a major pharma (which will undoubtedly happen within the next 3-12 months).

The success of the CX trial was no sure thing, had they not continued the 2.5 mg/kg treatment in addition to the 8 mg/kg dose it would have been an almost complete failure, particularly since most of their Phase 1 data was based on the higher dose and there was speculation that they would go to an even higher dose to enhance the change of success (something that is obviously an incorrect assumption).

Traber is clearly incompetent and had he not released the CX conference call presentation ahead of the actual call so that Feuerstein et al could spin the negative (and told the story in a logical, sensible manner) we would be looking at a share price well about $15 today, just another case of him screwing over shareholders