(Reuters) – Drug developer Galecto said on Tuesday it will discontinue development of its lung disease treatment after it failed to meet its primary goal in a mid-stage study.
It was developing the treatment, GB0139, for idiopathic pulmonary fibrosis, a condition in which the lungs become scarred and breathing becomes difficult.
The trial failed to meet its main goal of improving the maximum amount of air a patient can forcibly exhale from the lungs after fully inhaling.
The disease affects about 100,000 people in the United States.
The company said it will now focus on the development opportunities for the treatment of severe liver diseases.
Trading in Galecto’s shares were halted before the bell.
(Reporting by Sriparna Roy in Bengaluru; Editing by Arun Koyyur)
