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Business Summary: Galectin Therapeutics, Inc. is a clinical stage biopharmaceutical company dedicated to developing novel therapies to improve the lives of patients with chronic liver disease and cancer. The Company's drug candidates are based on its method of targeting galectin proteins, which are key mediators of biologic and pathologic functions. The Company's lead drug, belapectin, is a carbohydrate-based drug that inhibits the galectin-3 protein, which is directly involved in multiple inflammatory, fibrotic, and malignant diseases, for which it has Fast Track designation by the United States Food and Drug Administration. The lead development program is in metabolic dysfunction-associated steatohepatitis (MASH, formerly known as nonalcoholic steatohepatitis, or NASH) with cirrhosis, the most advanced form of MASH-related fibrosis. The Company's additional development programs are in treatment of combination immunotherapy for advanced head and neck cancers and other malignancies.
Financial Summary: BRIEF: For the three months ended 31 March 2024, Galectin Therapeutics Inc revenues was not reported. Net loss applicable to common stockholders remained flat at $11.5M. Net income also reflects Research and development decrease of 9% to $7.7M (expense), Stock-based Compensation in SGA decrease of 28% to $281K (expense), Total other income increase of 82% to $80K (income), offset by Interest expense increase from $460K to $1.1M (expense).