Jamil Khurram, serving as the Chief Medical Officer for Galectin Therapeutics Inc. (NASDAQ: GALT), has completed the sale of company shares following the exercise of equity options, as detailed in a Form 4 filing submitted to the Securities and Exchange Commission. The transaction activity was executed on June 23, 2026.
Mr. Khurram divested a total of 7,557 shares of common stock. The shares were sold at prices fluctuating between $3.10 and $3.17 per share, resulting in a weighted average sale price of $3.14. The aggregate value of this divestment was approximately $23,728. Prior to executing the sale, Mr. Khurram acquired the identical block of 7,557 shares by exercising stock options at a cost of $1.23 per share, totaling $9,295. These options had vested on December 31, 2025, as part of a broader grant structure.
Both the acquisition and the subsequent disposition of shares were carried out in accordance with a pre-arranged Rule 10b5-1 trading plan. This plan was established by Mr. Khurram on February 2, 2026, to govern the timing and execution of these transactions.
Following these recent activities, Jamil Khurram no longer holds any direct common stock in Galectin Therapeutics Inc. However, he retains a position in derivative securities. Specifically, he continues to hold 32,500 stock options, which are scheduled to expire on January 23, 2035.
Market data from InvestingPro indicates that GALT stock has experienced a significant upward movement, surging 38.76% over the past week to reach $4.23 per share. Current valuation metrics suggest the stock is trading above its calculated Fair Value. This valuation status places GALT on the watchlist for the most overvalued stocks, according to the data provider.
Outside of executive trading activity, Galectin Therapeutics has announced substantial progress regarding its therapeutic agent, belapectin. The company has reached an agreement with the U.S. Food and Drug Administration (FDA) concerning the design of a Phase 3 clinical trial for belapectin. This trial is intended for patients diagnosed with metabolic dysfunction-associated steatohepatitis cirrhosis and portal hypertension.
The regulatory agreement follows a Type C meeting with the FDA, which focused on critical elements such as study design, the primary endpoint, and the regulatory framework for the upcoming trial. Additionally, Galectin Therapeutics has published results from its NAVIGATE Phase 2b clinical trial in the journal Hepatology. This trial evaluated the efficacy of belapectin in patients with MASH cirrhosis and portal hypertension over an 18-month period.
These developments underscore Galectin's advancement of belapectin through clinical trial phases. The company is pursuing potential full approval for the drug, with the FDA's positive feedback supporting its continued development. The alignment on trial design and the publication of clinical data highlight the firm's efforts to establish the regulatory and scientific foundation for belapectin's future market entry.