Trade Galectin Therapeutics Inc. - GALT CFD

Trade Galectin Therapeutics Inc. - GALT

About Galectin Therapeutics Inc

Galectin Therapeutics Inc. is a biotechnology company that is focused on developing novel therapies to improve the lives of patients with chronic liver disease and cancer. The Company’s product candidates include galectin-3 inhibitor, belapectin (GR-MD-02) and GM-CT-01. The Company’s lead drug belapectin is a carbohydrate-based drug that inhibits the galectin-3 protein which is directly involved in multiple inflammatory, fibrotic, and malignant diseases. The Company is using a galectin-3 inhibitor to treat advanced liver fibrosis and liver cirrhosis in non-alcoholic steatohepatitis patients. The Company also designed a Phase IIb/II clinical study, the NAVIGATE trial, evaluating the safety and efficacy of its galectin-3 inhibitor, belapectin (GR-MD-02), for the prevention of esophageal varices in patients with non-alcoholic steatohepatitis (NASH) cirrhosis.

Financial summary

BRIEF: For the nine months ended 30 September 2021, Galectin Therapeutics Inc revenues was not reported. Net loss applicable to common stockholders increased 49% to $23.4M. Higher net loss reflects Research and development increase of 58% to $17.7M (expense), Other General and administrative increase of 15% to $3.6M (expense), Stock-based Compensation in SGA increase of 38% to $1.2M (expense).

Equity composition

Common Stock $.001 Par, 03/12, 300M auth., 12,842,850 issd. Insiders own 18.44%. Ser. A Pref. Stock 5M auth., 1,592,500 issd. Redeemable convt. Pref. stock Ser. B-1 900,000 auth., 900,000 issd. Ser. B-2 2.1M auth., 2,100,000 issd. PO 12/13/01, 1,428,572 shares @ $3.50by Atlas Capital Services LLC. 03/12. 1-for-6 Reverse split.