Galectin Therapeutics Q2 2022 net loss $9.7M; secures $60M credit line; trial enrollment 230 patients randomized

GALECTIN THERAPEUTICS INC

2022-Q2 EPS reported -$0.33

Net loss applicable to common stockholders of $9.7M ($0.16/shr) vs $8.5M ($0.15/shr) in Q2 2021.
R&D expenses rose to $8.1M from $6.5M, driven by NAVIGATE trial costs.
Cash and equivalents $24.2M as of June 30, 2022; $60M line of credit from Richard Uihlein available.
NAVIGATE trial: 230 patients randomized, 70 in screening; enrollment expected to complete Q4 2022.
Planning to file IND with FDA for belapectin plus Keytruda in head and neck cancer.

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