The broader market is down. Biotech's are down. I think what we are experiencing must be just the normal inconsistency of the market.
I agree with Biotech2010's comparison to ICPT. Perhaps the small sample size of Cohort 1 may explain the market cap difference between ICPT and GALT? Maybe the "big boys" require a larger sample size before they accept the results as statistically significant?
Also, I have confidence in GALT's management team. But if you think that GALT's management would falsify data or otherwise scam investors, you should probably sell.