GALECTIN THERAPEUTICS INC. (NASDAQ:GALT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b)On June12, 2018, Galectin Therapeutics Inc. (the “Company”) announced that Peter Traber, MD resigned as President and Chief Executive Officer of the Company effective July6, 2018 and will be replaced in those roles by Harold H. Shlevin Ph.D. The Company and Dr.Traber subsequently agreed to accelerate the resignations effective June14, 2018.
Dr.Traber will remain an employee of the Company through July6, 2018.
About GALECTIN THERAPEUTICS INC. (NASDAQ:GALT)
Galectin Therapeutics Inc. is a clinical-stage biopharmaceutical company engaged in drug research and development to create therapies for fibrotic disease and cancer. The Company’s drug candidates are based on its method of targeting galectin proteins, which are mediators of biologic and pathologic functions. It uses naturally occurring, readily-available plant materials as starting material in manufacturing processes to create complex carbohydrates with specific molecular weights and other pharmaceutical properties. The Company has two product candidates, GR-MD-02 and GM-CT-01. The Company’s galectin-3 inhibitor is GR-MD-02. The Company is focusing on development of GR-MD-02 intended to be used in the treatment of liver fibrosis associated with fatty liver disease (NASH), moderate to severe plaque psoriasis and in cancer therapy in combination with immune-system modifying agent(s). GM-CT-01 is a compound that continues to be explored in preclinical studies.
