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Galectin Therapeutics (NASDAQ: GALT) reported its Q1 2024 financial results and provided a business update. The NAVIGATE Phase 2b/3 trial of belapectin in liver cirrhosis due to MASH continues as planned, with an interim top-line readout expected late Q4 2024 after a positive fifth DSMB meeting.
Q1 financials show $23.6M in cash with an additional $10M available from a new line of credit. R&D expenses decreased to $8.1M from $8.8M YoY, while G&A expenses increased slightly to $1.6M from $1.5M. The net loss remained constant at $11.5M or ($0.19) per share YoY.
Corporate updates include the appointment of Dr. Khurram Jamil as VP of Clinical Development. The company mourns the loss of Dr. Stephen A. Harrison, a key figure in the belapectin program.
Galectin Therapeutics Inc. (NASDAQ: GALT) will participate in the H.C. Wainwright BioConnect Conference, presenting at the fireside chat on May 20, 2024, at 4:00 PM ET at the Nasdaq World Headquarters in New York City. The management team will be available for one-on-one meetings, and a webcast link will be provided on the Company's website.