Galectin Therapeutics reports FY2023 net loss of $44.8M; cash runway through March 2025

GALECTIN THERAPEUTICS INC

Net loss applicable to common stockholders of $44.8M ($0.74/share) vs $38.9M ($0.65/share) in FY2022.
Cash and equivalents $25.7M at Dec 31; plus $20M available credit line and new $10M facility from chairman.
NAVIGATE Phase 2b/3 trial for belapectin in MASH cirrhosis fully enrolled (357 patients); interim analysis readout expected Q4 2024.
Appointed Benjamin S. Carson, Sr., M.D. to Board of Directors.
Fourth DSMB meeting authorized continuation of NAVIGATE trial without modifications.

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 the year ended December 31, 2023 results: net income net loss applicable to common stockholders of $44.8 million, or ($0.74) per share, EPS $(0.74).

Period: the year ended December 31, 2023
Net income: net loss applicable to common stockholders of $44.8 million, or ($0.74) per share
EPS: $(0.74)
Result: reported results

Exact text from the filing

For the year ended December 31, 2023, the Company reported a net loss applicable to common stockholders of $44.8 million, or ($0.74) per share, compared to a net loss applicable to common stockholders of $38.9 million, or ($0.65) per share for the year ended December 31, 2022.

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Source: SEC EDGAR

accession 0001140361-24-016454

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