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.

On July 31, 2026, Galectin Therapeutics converted all outstanding convertible promissory notes held by Chairman Richard E. Uihlein into 34,376,167 shares of common stock. This transaction eliminated approximately $105.8 million in total debt obligations, comprising $91.0 million in principal and $14.8 million in accrued interest, across five line of credit facilities. The conversion occurred at a blended average price of approximately $3.07 per share. Post-conversion, the company has 100,849,644 common shares outstanding, with Mr. Uihlein holding approximately 44.3% of voting power. A sixth undrawn facility remains available. Galectin Therapeutics is a clinical-stage biopharmaceutical company developing therapies targeting galectin-3 for liver fibrosis and cancer.

Galectin Therapeutics Inc. issued a press release on June 23, 2026, regarding the results of a recent Type C meeting held with the U.S. Food and Drug Administration (FDA). The specific details of the meeting outcomes are contained in the attached exhibit. Galectin Therapeutics Inc. is a biotechnology company focused on developing therapies.