Galectin Therapeutics Inc (NASDAQ:GALT), the leading developer of therapeutics that target galectin proteins to treat fibrosis and cancer, today announced the appointment of Adam E. Allgood, Pharm.D., R.Ph. as executive director of clinical development, effective immediately. Dr. Allgood is an experienced industry professional with more than 28 years of pharmaceutical industry experience in effectively designing, implementing, monitoring, and directing clinical programs in all four phases of clinical development, ranging from Phase 1 first-in-human trials to large global Phase 3 clinical trials and post marketing trials. His therapeutic expertise spans a variety of therapeutic areas including gastroenterology, and encompasses clinical trial leadership, key opinion leader interface, significant contract research organization management experience, clinical trial investigator training, and clinical advisory board responsibilities. In addition, Dr. Allgood has extensive clinical research and/or regulatory experience in immunology, rheumatology, neurology, and women’s health.
“Adam is an excellent addition to our team as he brings a broad range of clinical development experience, including a track record of success in designing, executing and successfully completing clinical studies. He joins Galectin at a critical time as the Company has started a multi-trial Phase 2 clinical development program focused on the use of GR-MD-02 for treatment of non-alcoholic steatohepatitis (NASH) in patients with fibrosis and cirrhosis. Adam will be an important part of the team as we work to deliver on the promise of a treatment for this common and deadly disorder,” said Peter G. Traber, M.D., president, chief executive officer, and chief medical officer of Galectin.
“I welcome the opportunity to join the Galectin team in its exciting endeavor to develop GR-MD-02 to its full potential for impacting the lives of patients who suffer from severe diseases such as NASH, other fibrotic organ conditions, and cancer,” added Dr. Allgood. “I look forward to contributing to Galectin’s already extensive and impressive scientific, development, and regulatory expertise focusing on developing galectin inhibitors to fill the continuing significant unmet medical need for effective treatments for these serious and life-threatening diseases.”
Dr. Allgood most recently was associate director of global pharmaceutical regulatory affairs at UCB Inc., a multinational biopharmaceutical company. His prior positions include leadership roles at Abbott Laboratories and Solvay Pharmaceuticals in regulatory affairs, clinical development and medical affairs.
Dr. Allgood earned his Doctor of Pharmacy (Pharm.D.) degree summa cum laude from Mercer University College of Pharmacy and Health Sciences inAtlanta and is a Registered Pharmacist (R.Ph.). He is a member of the American Pharmacists Association (APHA), the Georgia Pharmacy Association(GPHA), and the Association of the United States Army (AUSA). (Original Source)
Shares of Galectin Therapeutics closed today at $2.79, up $0.06 or 2.20%. GALT has a 1-year high of $16.55 and a 1-year low of $2.50. The stock’s 50-day moving average is $2.84 and its 200-day moving average is $3.25.
On the ratings front, MLV & Co. analyst Vernon Bernardino reiterated a Buy rating on GALT, with a price target of $16, in a report issued on March 19. The current price target represents a potential upside of 471.4% from where the stock is currently trading. According to TipRanks.com, Bernardino has a total average return of -2.1%, a 45.3% success rate, and is ranked #3156 out of 3708 analysts.
Galectin Therapeutics Inc is a clinical stage biopharmaceutical company. The Company is engaged in drug research and development to create new therapies for fibrotic disease and cancer.