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Closing yesterday’s session at $2.59, the stock is trading 54.6% below its all-time high. Also, the stock has declined 26% over the past month and 6.8% over the past year. GALT is currently trading lower than its $3.65 and $2.82 respective 50-day and 200-day moving averages, which indicates a downtrend.
While recent positive results from GALT’s phase I clinical trial of Belapectin, in combination with KEYTRUDA, have garnered significant investor attention, given that its leading drug candidates are still in clinical trials, we believe it will take some time for the company to begin generating revenues and profit.
