Galectin Therapeutics Inc. reported its financial results for the first quarter of 2026, revealing a net loss of $5.0 million, a significant decrease from the $9.6 million loss recorded in the same period of 2025. The company’s total operating expenses for the quarter were $4.1 million, down 48% from $7.9 million a year earlier, primarily due to a reduction in research and development costs, which fell to $2.2 million from $6.5 million. This decline reflects the completion of the NAVIGATE clinical trial, which had previously incurred substantial expenses.
The company’s cash and cash equivalents stood at $14.1 million as of March 31, 2026, a decrease from $17.7 million at the end of 2025. Total current assets also declined to $15.7 million from $19.5 million, while total liabilities remained relatively stable at $146.0 million compared to $145.7 million at the end of the previous fiscal year. The company continues to rely on funding from its chairman, Richard Uihlein, who has provided a line of credit of up to $60 million to support operations.
In terms of operational developments, Galectin Therapeutics is focused on advancing its lead product candidate, belapectin, which targets galectin-3 for the treatment of fibrotic diseases and cancer. The NAVIGATE trial, which aims to evaluate the efficacy of belapectin in preventing esophageal varices in patients with metabolic dysfunction-associated steatohepatitis (MASH) cirrhosis, completed patient randomizations in February 2023. The company plans to analyze the trial results further and has engaged in discussions with the FDA regarding the next steps.
Looking ahead, Galectin Therapeutics anticipates that it will require additional capital to fund operations beyond May 2027. The company is exploring various financing options, including potential collaborations and partnerships, to support its ongoing clinical development programs. Despite the challenges, management remains optimistic about the future of belapectin and its potential to address significant unmet medical needs in the treatment of fibrotic diseases and cancer.
About GALECTIN THERAPEUTICS INC
Galectin Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on developing therapies targeting galectin proteins, especially galectin-3, to treat fibrotic diseases, cancer, and inflammatory conditions. Its lead candidate, belapectin, aims to reverse liver fibrosis and prevent complications in NASH cirrhosis. The company leverages proprietary carbohydrate-based compounds, conducts clinical trials, and seeks strategic partnerships to advance its innovative, patent-protected drug development pipeline.
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