Core Viewpoint - Galectin Therapeutics reported positive clinical data for belapectin, indicating its potential to slow disease progression in patients with compensated MASH cirrhosis, and submitted the NAVIGATE data package to the FDA for feedback on next steps [2][4]. Clinical Data Summary - The NAVIGATE trial presented at AASLD showed consistent improvements in key biomarkers, including FibroScan, ELF, and PRO-C3, supporting belapectin's antifibrotic activity [2][4]. - Belapectin demonstrated a significant reduction in clinically significant portal hypertension (CSPH) risk categories, with a decrease from 33.3% to 25.9% in the 2 mg/kg group, compared to a smaller decrease from 34.2% to 32.9% in the placebo group [8]. - The treatment also improved the no/low-risk category for CSPH, increasing from 42.0% to 56.8% in the belapectin group versus an increase from 44.7% to 51.3% in the placebo group [8]. Financial Highlights - As of September 30, 2025, the company reported cash and cash equivalents of $11.5 million, with total assets of $12.9 million [14]. - Research and development expenses for Q3 2025 were $2.6 million, a decrease from $7.6 million in Q3 2024, primarily due to the timing of expenditures related to the NAVIGATE trial [6][12]. - The net loss applicable to common stockholders for Q3 2025 was $8.2 million, or ($0.13) per share, compared to a net loss of $11.2 million, or ($0.18) per share in Q3 2024 [12][13].