NORCROSS, Ga., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Galectin Therapeutics, Inc. (NASDAQ: GALT), the leading developer of therapeutics that target galectin proteins, today reported financial results and provided a business update for the three and six months ended June 30, 2025. Joel Lewis, Chief Executive Officer and President of Galectin Therapeutics, stated "We are encouraged by the continued analysis of data from our NAVIGATE trial , which further supports the clinical profile of belapectin in patients with ...

Core Insights - Galectin Therapeutics reported significant progress in its belapectin program, particularly in treating MASH cirrhosis and portal hypertension, with a 68% reduction in new varices incidence in U.S. patients [2][6] - The company has sufficient cash to fund operations through August 2025, bolstered by a $5 million line of credit from its chairman [5][7] - Financial results for 2024 show a net loss of $47.2 million, an increase from $44.5 million in 2023, primarily due to rising research and development costs [11][13] Financial Highlights - As of December 31, 2024, the company had $15.1 million in unrestricted cash and cash equivalents, with an additional $6 million available under a line of credit [5][14] - Research and development expenses for 2024 were $36.6 million, up from $32.1 million in 2023, driven by costs associated with the NAVIGATE clinical trial [11][13] - The total net loss applicable to common stockholders for 2024 was $47.2 million, or ($0.76) per share, compared to a net loss of $44.5 million, or ($0.74) per share in 2023 [11][13] Belapectin Program Highlights - Belapectin targets galectin-3, a protein involved in the pathogenesis of NASH and fibrosis, and has received Fast Track designation from the FDA [3][8] - The NAVIGATE trial demonstrated a 49% reduction in varices incidence in the per-protocol population and a 68% reduction in U.S. patients treated with belapectin 2 mg compared to placebo [6][11] - The company plans to share additional results and biomarker analyses in the second quarter of 2025 [2][6]