Galectin Therapeutics (GALT) saw its shares plummet approximately 35% following an update on its discussions with the FDA regarding its MASH candidate, belapectin. The company announced securing an additional $10 million credit line from its chairman, Richard Uihlein, to fund operations through March 2027. Despite a past trial setback, Galectin is progressing with plans for a registration trial, having aligned with the FDA on trial enrollment and assessment methods. The company intends to request a Type C meeting to finalize the trial's design.
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