NORCROSS, Ga., March 23, 2017 (GLOBE NEWSWIRE) -- Galectin Therapeutics Inc. (NASDAQ:GALT), the leading developer of therapeutics that target galectin proteins, announced today that trading will be halted in GALTW and GALTU at close of business on March 23, 2017 due to the expiration, on March 28, 2017, of certain publicly traded warrants that were issued in March 2012. The Company's common stock, GALT, will not be affected and will continue to trade on the Nasdaq market. GALTU are units that were sold in March 2012 that consist of two shares of GALT common stock and one warrant. Unit holders had the right at any time to separate each GALTU unit into two shares of GALT common stock and one publicly traded warrant, and most unit holders exercised that right. GALTW are the free-standing warrants that were separated from the units. Unit holders who did not previously separate their units may now exchange each unit for two shares of GALT common stock.
About Galectin Therapeutics
Galectin Therapeutics is dedicated to developing novel therapies to improve the lives of patients with chronic liver and skin diseases and cancer. Galectin's lead drug (GR-MD-02) is a carbohydrate-based drug that inhibits the galectin-3 protein which is directly involved in multiple inflammatory, fibrotic, and malignant diseases. The lead development program is in non-alcoholic steatohepatitis (NASH) with cirrhosis, the most advanced form of NASH related fibrosis. This is the most common liver disease and one of the largest drug development opportunities available today. Additional development programs are in treatment of severe atopic dermatitis, moderate-to-severe plaque psoriasis, and in combination immunotherapy for advanced melanoma and other malignancies. Galectin seeks to leverage extensive scientific and development expertise as well as established relationships with external sources to achieve cost-effective and efficient development. Additional information is available at www.galectintherapeutics.com.
Jack Callicutt, Chief Financial Officer
Source: Galectin Therapeutics
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