Galectin Therapeutics Q2 loss widens

• Company expects to submit Phase 3 belapectin trial protocol in advanced MASH cirrhosis in 3Q 2026
• Galectin believes it has sufficient cash to fund planned operations through June 2027

Analyst coverage

• The one available analyst rating on the shares is "buy"
• The average consensus recommendation for the biotechnology & medical research peer group is "buy"
• Wall Street's median 12-month price target for Galectin Therapeutics Inc is $11.00, about 211.6% above its August 13 closing price of $3.53

• U.S. liver disease drug developer's Q2 net loss per share widened yr/yr
• Company converted $105.8 mln in debt to common stock, strengthening balance sheet
• Research and development expenses fell due to timing of NAVIGATE trial expenditures

Result drivers

• R&D expenses - Research and development costs decreased due to timing of expenditures related to the NAVIGATE clinical trial
• Derivative liability charge - Net loss increased mainly due to a $3.2 mln charge for change in fair value of derivative liabilities