They don't have nearly enough data to convince any major pharma to enter in to a partnership for atopic dermatitis or psoriasis, period. Nor do they have the funds to conduct trials with a sufficient amount.
NVS acquired a a British company, Ziarco, in December, 2016 to add this drug to their pipeline-the data had a 50% improvement for 98 patients. This is an oral treatment, not IV.
The financial details were not released but it potentially was a $1B deal subject to milestones. Pfizer also has a drug that was approved for atopic dermatitis as well (Ecrisa) in late 2016.
IF Galt had a Phase 2 trial showing equivalent results it might be worth a similar amount but they don't so what is the value at their current level of development? And which company might be interested considering Pfizer and NVS have already made a decision?
GR-MD-02 is an IV drug, both of the other drugs mentioned here are either oral or topical so puts GALT at a severe disadvantage.
You are welcome to believe that GALT 'can compete' with both of these companies but there are also other drugs in development and further ahead, in particular Sanofi/Regeneron's Dupixent.
Based on this and GALT's lack of effort in this area I fail to see how they can attract a suitable investor partner in 2017 for skin treatments, you are welcome to see it another way. As I have previously mentioned on this board my asset allocation in this sector has gone from 100% GALT to 90% CNAT and 10% GALT over the past 6 months and I see no reason to change that approach.