Galectin Therapeutics reports Q2 2024 net loss of $12.4M; NAVIGATE interim readout on track for Dec 2024

GALECTIN THERAPEUTICS INC

NAVIGATE Phase 2b/3 trial of belapectin on track for interim top-line analysis in December 2024.
Cash and equivalents of $25.6M at June 30, 2024; $10M line of credit from chairman available.
Net loss for Q2 2024 was $12.4M ($0.20 per share) vs $9.2M ($0.15 per share) in Q2 2023.
R&D expenses rose to $9.8M from $7.4M, driven by NAVIGATE trial costs.
Cash runway expected to fund operations through approximately May 15, 2025.

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