Jamil Khurram, serving as the Chief Medical Officer for Galectin Therapeutics Inc. (NASDAQ: GALT), reported a series of stock transactions that resulted in the disposition of common shares and the acquisition of an equal number of shares. According to a recent filing with the Securities and Exchange Commission, these activities took place over a four-day window between June 26 and June 29, 2026. The transactions were executed under the parameters of a Rule 10b5-1 trading plan, a mechanism often utilized to facilitate pre-arranged stock sales.
The insider activity involved the sale of 52,037 shares of common stock, generating total proceeds of $262,083. Prior to these sales, Khurram acquired the identical quantity of shares through the exercise of stock options, with a total acquisition value of $129,481. Following the completion of these offsetting transactions, the executive's direct holdings in Galectin Therapeutics Inc. common stock were reduced to zero.
On June 26, the executive executed two separate sales totaling 4,570 shares. This included the sale of 2,037 shares and 2,533 shares, both transacted at a weighted average price of $5.00 per share. These specific sales were part of a broader set of transactions where prices ranged from $5.00 to $5.01. On June 29, a larger block of 47,467 shares was sold at a weighted average price of $5.04 per share. Individual transaction prices on this date ranged from $5.00 to $5.13. The total proceeds from the June 26 and June 29 sales amounted to $262,083, with the per-share price received ranging from $5.00 to $5.04.
Before selling the shares, Khurram acquired the 52,037 shares via stock option exercises. On June 26, the acquisition included 2,037 shares at an exercise price of $2.20 per share and 2,533 shares at an exercise price of $2.50 per share. On June 29, the acquisition of the remaining 47,467 shares occurred at an exercise price of $2.50 per share. The total value of these acquisitions was $129,481, with exercise prices ranging from $2.20 to $2.50 per share.
The insider transactions occur against a backdrop of significant price appreciation for GALT stock. According to InvestingPro data, the stock has surged 48.72% over the past week and 119.91% over the past year. The stock currently trades at $4.64. However, InvestingPro analysis suggests the stock may be overvalued relative to its Fair Value, placing it among companies on the most overvalued list.
Concurrently with the insider activity, Galectin Therapeutics Inc. announced an agreement with the U.S. Food and Drug Administration regarding the design of a Phase 3 trial for belapectin. This development follows a Type C meeting with the FDA, where the company received positive feedback regarding the primary endpoint and regulatory path for belapectin’s potential full approval. The planned trial aims to treat patients with metabolic dysfunction-associated steatohepatitis cirrhosis and portal hypertension.
Additionally, Galectin Therapeutics published results from its NAVIGATE Phase 2b clinical trial in the journal Hepatology. This trial evaluated belapectin in patients with MASH cirrhosis and portal hypertension over an 18-month period. The study was global, randomized, and placebo-controlled, focusing on patients without esophageal varices at baseline. These recent developments highlight the company’s continued progress in advancing belapectin through the clinical trial phases.