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LOS ANGELES, April 27, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Galectin Therapeutics, Inc., (“Galectin" or the "Company") (NASDAQ: GALT) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/galectin-therapeutics-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Galectin’s stock price plummeted $1.78 per share, or 28.9%, to close at $4.38 per share on December 19, 2025, thereby injuring investors. This sharp market contraction was triggered by a December 19, 2025, announcement regarding a significant shift in the regulatory engagement for the Company’s primary drug development program. The primary driver of the valuation collapse was the disclosure that the U.S. Food and Drug Administration (FDA) had downgraded the nature of its interaction regarding belapectin, an investigational galectin-3 inhibitor.
The decline was further exacerbated by the revelation that federal regulators had "converted the Company’s initial request for an in-person or teleconference meeting to a written response." This procedural shift signaled a lack of direct dialogue during a critical phase of the "Type C meeting request." While Galectin indicated there was "alignment with the agency on the proposed patient population," the Company admitted that "key aspects of the trial design remain unresolved." The revelation that the Company must now "pursue a follow-up Type C meeting" to finalize the remaining components of its next clinical trial led to an immediate loss of investor confidence. This downward pressure resulted in a rapid erosion of shareholder value as the market adjusted to the increased regulatory uncertainty and the extended timeline for the commencement of a registration-enabling study.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
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