Galecto Discontinues Lead Product Candidate in Chronic Lung Disease Study

Galecto, a clinical-stage biotechnology company based in Boston, has made the decision to discontinue its lead product candidate following the failure of a Phase 2b study. The study was focused on evaluating the safety and efficacy of inhaled GB0139 for the treatment of idiopathic pulmonary fibrosis (IPF), a chronic lung disease.

Unfortunately, the study did not meet its primary endpoint, which was to determine the change from baseline in the rate of decline in forced vital capacity. Forced vital capacity measures the maximum amount of air that a patient can exhale forcefully from their lungs.

As a result of these findings, Galecto has chosen to end the development of GB0139 and shift its focus towards advancing its pipeline for the treatment of severe liver diseases. The company, which had approximately $49 million in cash, equivalents, and investments as of July, is also evaluating its resource allocation to extend its cash runway into 2025.

In light of this development, trading in Galecto's shares was halted before the market opened on Tuesday.