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]