Galectin Therapeutics(GALT) - 2024 Q3 - Quarterly Results

Clinical Trials - The NAVIGATE trial for belapectin is on track for top-line results expected in December 2024, involving 357 patients across 14 countries[1][5] - Three abstracts from the NAVIGATE trial have been accepted for presentation at the AASLD 2024 meeting, highlighting key clinical data[3][5] - The NAVIGATE trial aims to evaluate the efficacy and safety of belapectin for the prevention of esophageal varices in patients with MASH cirrhosis[5] Financial Performance - As of September 30, 2024, the company reported cash and cash equivalents of $27.1 million, with an additional$6 million available under a new line of credit[7] - Research and development expenses for Q3 2024 were $7.6 million, slightly down from$7.7 million in Q3 2023[8] - The net loss applicable to common stockholders for Q3 2024 was $11.2 million, or ($0.18) per share, compared to a net loss of $14.0 million, or ($0.24) per share in Q3 2023[9] Liabilities and Equity - Total liabilities increased to $121.5 million as of September 30, 2024, compared to$88.4 million in December 2023[14] - Total stockholders' equity (deficit) was reported at $(94.2) million as of September 30, 2024, compared to$(61.9) million in December 2023[14] Corporate Events - The company plans to hold its 2024 Annual Meeting of Stockholders on January 23, 2025, following the expected top-line results of the NAVIGATE trial[6] Company Focus - Galectin Therapeutics is focused on developing therapies for chronic liver disease and cancer, with belapectin being a key drug in their pipeline[11]