Galectin Therapeutics Inc. reported its financial results for the third quarter of 2025, revealing a net loss of $8.2 million, a decrease from the $11.2 million loss recorded in the same period of 2024. For the nine months ending September 30, 2025, the company reported a net loss of $25.4 million, down from $35.2 million in the prior year. The reduction in losses is attributed to a significant decrease in research and development expenses, which fell by 66% to $2.6 million for the quarter and by 51% to $12.4 million for the nine-month period, primarily due to the conclusion of the NAVIGATE clinical trial.
Total operating expenses for the third quarter were $4.2 million, down from $9.1 million in the same quarter of 2024. The decrease in expenses was driven by lower research and development costs, which accounted for the majority of the reduction. General and administrative expenses increased slightly to $1.6 million for the quarter, compared to $1.5 million in the previous year, reflecting higher legal and investor relations costs.
As of September 30, 2025, Galectin Therapeutics had $11.5 million in cash and cash equivalents, a decrease from $15.1 million at the end of 2024. The company also has a $10 million line of credit available, which it believes will be sufficient to fund operations through June 2026. However, the company anticipates needing additional capital beyond that date to support ongoing operations and development efforts.
In terms of operational developments, Galectin Therapeutics continues to focus on its lead product candidate, belapectin, which is being evaluated for the treatment of non-alcoholic steatohepatitis (NASH) cirrhosis. The NAVIGATE trial, which completed patient randomization in February 2023, is a pivotal study assessing the efficacy of belapectin in preventing esophageal varices in patients with NASH cirrhosis. The company is also exploring potential partnerships to advance its clinical programs, particularly in oncology, where belapectin is being investigated in combination with immune checkpoint inhibitors.
Looking ahead, Galectin Therapeutics remains committed to its clinical development programs and is actively analyzing data from its trials. The company acknowledges the challenges of securing additional funding and the uncertainties inherent in drug development but is optimistic about the potential of its therapies to address significant unmet medical needs in 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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