Galectin Therapeutics (GALT) said Friday its trial evaluating belapectin in cirrhotic portal hypertension patients showed a 48.9% reduction in varices in the per-protocol population for the 2 mg/kg dose group.

In the intent-to-treat population, while the incidence of varices showed a 43.2% reduction, "the composite endpoint did not reach statistical significance," the company said.

The safety profile of belapectin remained favorable, the company said.

Galectin Therapeutics' shares were nearly 30% lower in recent premarket trading.