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Galectin Therapeutics (NASDAQ:GALT) Stock Rockets: How Far Can It Go?

Madison Hall , , , ,

Those who are monitoring the action in the premarket trading period may have noticed that the Galectin Therapeutics Inc (NASDAQ:GALT) has emerged as an early winner and soared by 50% at the time of writing.

This morning the company announced positive top line data with regards to the combination therapy of KEYTRUDA and Belapectin, which is meant for the treatment of patients suffering from progressive diseases. The data revealed that the combination therapy clocked cancer control rate of as much as 56% in case of melanoma and 40% in case of head and neck cancer. Hence, it is no surprise that investors have piled on to the stock this morning following the update from Galectin.

The announcement was made by the company jointly with the Earle A. Chiles Research Institute, which is a branch of the Providence Cancer Institute. The study was done under the guidance of well known melanoma and cancer specialist Dr. Brendan D. Curti. In this regard, it is also necessary to note that the patients suffering from melanoma also recorded some serious prognosis. Out of the nine patients, four had choroidal primary tumors and six were suffering from liver metastasis.

GALT stock is up by 45.30% to $4.01 in the pre-market session on high volume.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.