Earnings ·
Galectin Therapeutics Inc. reported financial results for the quarter ended June 30, 2026, and provided a business…
GALTGalectin Therapeutics Inc
Galectin Therapeutics Inc. reported financial results for the quarter ended June 30, 2026, and provided a business update on August 14, 2026. The company announced that Chairman Richard E. Uihlein converted approximately $105.8 million in debt and accrued interest into 34,376,167 shares of common stock, significantly strengthening the balance sheet. For the quarter, Galectin reported a net loss of $9.2 million, or $0.14 per share, compared to a $7.6 million loss in the prior year period. Cash and cash equivalents stood at $13.2 million as of June 30, 2026. The company reached an agreement with the FDA on key elements for its planned Phase 3 trial of belapectin in MASH cirrhosis and portal hypertension, with a protocol submission expected in the third quarter of 2026. Galectin Therapeutics Inc. is a clinical-stage biopharmaceutical company developing therapeutics targeting galectin proteins for chronic liver disease and cancer.