Galectin Therapeutics Reports Reduced Net Loss and Advances Clinical Trials in Q2 2025

Galectin Therapeutics Inc. reported its financial results for the second quarter of 2025, revealing a net loss of $7.5 million, a decrease from a net loss of $12.4 million in the same period last year. For the six months ending June 30, 2025, the company recorded a net loss of $17.2 million, down from $23.9 million in the prior year. The reduction in losses is attributed to a significant decrease in operating expenses, which totaled $4.6 million for the quarter, compared to $11.3 million in the second quarter of 2024. Research and development expenses saw a notable decline, dropping by 67% to $3.3 million for the quarter, primarily due to reduced costs associated with the NAVIGATE clinical trial, which concluded in early 2025.

In terms of liquidity, Galectin Therapeutics reported $13.8 million in cash and cash equivalents as of June 30, 2025, down from $15.1 million at the end of 2024. The company also secured a new $10 million line of credit from its chairman, Richard Uihlein, on July 8, 2025, which is expected to support operations through June 2026. The company anticipates needing additional capital beyond this period and plans to explore various financing options, including debt or equity offerings.

Operationally, Galectin Therapeutics is focused on advancing its lead product candidate, belapectin, which is in clinical trials for treating non-alcoholic steatohepatitis (NASH) cirrhosis. The NAVIGATE trial, which aimed to evaluate the efficacy of belapectin in preventing esophageal varices in patients with NASH cirrhosis, completed patient randomization in February 2023. While the trial did not achieve statistical significance in its primary endpoint, further analysis indicated a 49.3% reduction in varices incidence in the per-protocol population, suggesting potential efficacy that the company continues to explore.

The company has also been active in expanding its research initiatives, including a new study protocol filed with the FDA to assess belapectin's effects in subjects with varying degrees of hepatic impairment. Additionally, Galectin Therapeutics is pursuing opportunities in oncology, particularly in combination therapies involving belapectin and immune checkpoint inhibitors for treating head and neck cancers. The company remains committed to leveraging its scientific expertise and partnerships to enhance its drug development pipeline, which is focused on addressing significant unmet medical needs in fibrotic diseases and cancer.