Galectin Posts Wider Q2 Loss but Advances Belapectin Toward Phase 3
GALT sits 70% above its 52-week low of $2.025.
Summary
Galectin reported a wider Q2 net loss of $9.2 million, driven by a non-cash derivative fair-value charge, but the real story is the regulatory progress on belapectin. The company has reached agreement with the FDA on the Phase 3 trial design for MASH cirrhosis and expects to submit the protocol in Q3 2026. This follows the June 23 FDA feedback and the August 4 debt-to-equity conversion that eliminated $105.8 million in debt. New publications in Hepatology and Gastro Hep Advances add scientific validation. The balance sheet is now clean, and the next major milestone is the Phase 3 protocol submission.
At the time of this announcement, GALT was trading at $3.45 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $356M. The 52-week trading range was $2.03 to $7.13. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.