secwatch.observer — SEC 8-K summary
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Issuer:     GALECTIN THERAPEUTICS INC (GALT)
CIK:        0001133416
Form:       8-K
Filed at:   2023-11-13T23:59:59+00:00
Accession:  0001140361-23-052731
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Galectin Therapeutics Q3 net loss $14M; cash $20.4M; Chairman exercises warrants for $10M
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- Net loss $14.0M ($0.24/sh) vs $8.6M ($0.14/sh) YoY; includes $3.6M non-cash deemed dividend from warrant modification.
- Cash and equivalents $20.4M at Sept 30; additional $30M available under chairman's credit line.
- Chairman Uihlein exercised 2.2M warrants at $4.49/sh for $10M gross proceeds; Dr. Benjamin Carson nominated to board.
- R&D expenses $7.7M (up from $6.6M) on hiring and belapectin activities; G&A $1.4M (down from $1.5M).
- Interim analysis for NAVIGATE belapectin trial on track for Q4 2023; company believes funded through Dec 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1133416/000114036123052731/0001140361-23-052731-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1133416/000114036123052731/ef20014482_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-052731

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer