The Galectin Therapeutics (NASDAQ:GALT) stock emerged as one of the major gainers in the market this past week. During the course of the week, the stock soared by as much as 78% and much of that was led by an announcement from the company on April 19.
The company announced that it appointed Dr. Ben Carson Sr as a special consultant. It is a major coup for the company since Dr. Carson is a world-famous neurosurgeon and on top of that that he had also served as the Secretary of the U.S. Department of Housing and Urban Development.
Dr. Carson is going to help Galectin with the development of the galectin 3 inhibitor. However, that’s not all. On the same day, Galectin Therapeutics also announced that it signed a new debt financing deal to the tune of $10 million with the company’s biggest shareholder and chairman Richard E. Uihlein.