Galectin Therapeutics Q3 net loss $14.0M ($0.24/share); chairman exercises warrants for $10M

GALECTIN THERAPEUTICS INC

2023-Q3 EPS reported -$0.58

Net loss $14.0M ($0.24 loss per share) vs $8.6M ($0.14) in Q3 2022; includes $3.6M non-cash deemed dividend from warrant modification.
Chairman Richard Uihlein exercised 2.24M warrants at $4.49/share, providing $10M cash; market price was $1.81.
Cash and equivalents $20.4M; additional $30M credit line from chairman; cash sufficient through at least Dec 2024.
Belapectin safety profile positive; interim analysis for NAVIGATE trial expected Q4 2024.
Dr. Benjamin Carson Sr. nominated to Board of Directors.

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 0.7

GALECTIN THERAPEUTICS INC reported financial results for nine months ended September 30, 2023.

Period: nine months ended September 30, 2023
Result: reported results

Exact text from the filing

Galectin Therapeutics Inc. (“Galectin Therapeutics”) issued a press release announcing its results of operations and financial condition as of and for the three and nine months ended September 30, 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GALECTIN THERAPEUTICS INC reported three months ended September 30, 2023 results: net income net loss applicable to common stockholders of $14.0 million, EPS ($0.24) per share.

Period: three months ended September 30, 2023
Net income: net loss applicable to common stockholders of $14.0 million
EPS: ($0.24) per share
Result: reported results

Exact text from the filing

For the three months ended September 30, 2023, the Company reported a net loss applicable to common stockholders of $14.0 million, or ($0.24) per share

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GALECTIN THERAPEUTICS INC filing history →

Source: SEC EDGAR

accession 0001140361-23-052753

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