Galectin Therapeutics Q1 net loss widens to $11.5M; NAVIGATE trial fully enrolled with 357 patients

GALECTIN THERAPEUTICS INC

2023-Q1 EPS reported -$0.19

Net loss of $11.5M ($0.19/shr) vs $9.9M loss in Q1 2022, driven by higher R&D costs.
R&D expenses rose to $8.8M from $8.1M, primarily for the NAVIGATE trial.
Cash and equivalents $17.8M; additional $40M available under chairman's line of credit.
NAVIGATE Phase 2b/3 trial for NASH cirrhosis esophageal varices enrolled 357 patients; interim results expected Q4 2024.
Company evaluating potential Phase 2 trial of belapectin + Keytruda in advanced head and neck cancers.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GALECTIN THERAPEUTICS INC reported three months ended March 31, 2023 results: net income net loss applicable to common stockholders of $11.5 million, or ($0.19) per share, EPS ($0.19) per share.

Period: three months ended March 31, 2023
Net income: net loss applicable to common stockholders of $11.5 million, or ($0.19) per share
EPS: ($0.19) per share
Result: reported results

Exact text from the filing

Galectin Therapeutics Reports Financial Results for the Quarter Ended March 31, 2023 and Provides Business Update

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GALECTIN THERAPEUTICS INC filing history →

Source: SEC EDGAR

accession 0001140361-23-024500

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