0001140361-22-019248 | 10-Q | XBRL Viewer | Galectin Therapeutics INC

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2022	May 09, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Document Transition Report	false
Entity File Number	001-31791
Entity Registrant Name	GALECTIN THERAPEUTICS INC.
Entity Central Index Key	0001133416
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	04-3562325
Entity Address, Address Line One	4960 Peachtree Industrial Blvd.
Entity Address, Address Line Two	Suite 240
Entity Address, City or Town	Norcross
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30071
City Area Code	678
Local Phone Number	620 -3186
Title of 12(b) Security	Common Stock
Trading Symbol	GALT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		59,388,518

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 31,606,000	$ 39,648,000
Prepaid expenses and other current assets	1,901,000	2,172,000
Total current assets	33,507,000	41,820,000
Other assets	108,000	7,000
Total assets	33,615,000	41,827,000
Current liabilities:
Accounts payable	1,906,000	1,805,000
Accrued expenses and other	7,629,000	7,163,000
Accrued dividends payable	0	65,000
Total current liabilities	9,535,000	9,033,000
Convertible notes payable and accrued interest, net of discounts - related party (Note 3)	29,275,000	29,048,000
Derivative liabilities (Note 4)	901,000	1,130,000
Other liabilities	97,000	0
Total liabilities	39,808,000	39,211,000
Commitments and contingencies (Note 9)
Series C super dividend redeemable convertible preferred stock; 1,000 shares authorized, 176 shares issued and outstanding at March 31, 2022 and December 31, 2021, redemption value: $8,362,000, liquidation value: $1,760,000 at March 31, 2022	1,723,000	1,723,000
Stockholders' equity (deficit):
Undesignated stock, $0.01 par value; 20,000,000 shares authorized, 20,000,000 designated at March 31, 2022 and December 31, 2021, respectively	0	0
Series A 12% convertible preferred stock; 1,742,500 shares authorized, 1,302,500 issued and outstanding at March 31, 2022 and December 31, 2021, liquidation value $1,302,500 at March 31, 2022	527,000	527,000
Common stock, $0.001 par value; 150,000,000 shares authorized at March 31, 2022 and December 31, 2021, 59,388,518 and 59,341,305 issued and outstanding at March 31, 2022 and December 31, 2021, respectively	59,000	59,000
Additional paid-in capital	272,108,000	271,001,000
Retained deficit	(280,610,000)	(270,694,000)
Total stockholders' equity (deficit)	(7,916,000)	893,000
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)	$ 33,615,000	$ 41,827,000

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' (DEFICIT) EQUITY
Series C 6% super dividend redeemable convertible preferred stock, shares authorized (in shares)	1,000	1,000
Series C 6% super dividend redeemable convertible preferred stock, shares issued (in shares)	176	176
Series C 6% super dividend redeemable convertible preferred stock, shares outstanding (in shares)	176	176
Series C 6% super dividend redeemable convertible preferred stock, redemption value	$ 8,362,000
Series C 6% super dividend redeemable convertible preferred stock liquidation value	$ 1,760,000
Stockholders' equity (deficit):
Undesignated stock, par value (in dollars per share)	$ 0.01	$ 0.01
Undesignated stock, shares authorized (in shares)	20,000,000	20,000,000
Undesignated stock, shares designated (in shares)	20,000,000	20,000,000
Series A 12% convertible preferred stock, shares authorized (in shares)	1,742,500	1,742,500
Series A 12% convertible preferred stock, shares issued (in shares)	1,302,500	1,302,500
Series A 12% convertible preferred stock, shares outstanding (in shares)	1,302,500	1,302,500
Series A 12% convertible preferred stock, liquidation value	$ 1,302,500
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, issued (in shares)	59,388,518	59,341,305
Common stock, outstanding (in shares)	59,388,518	59,341,305

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating expenses:
Research and development	$ 8,058	$ 4,899
General and administrative	1,877	1,418
Total operating expenses	9,935	6,317
Total operating loss	(9,935)	(6,317)
Other income (expense):
Interest income	1	1
Change in fair value of derivatives	229	0
Interest expense	(227)	(22)
Total other income (expense)	3	(21)
Net loss	(9,932)	(6,338)
Preferred stock dividends	16	(2)
Net loss applicable to common stockholders	$ (9,916)	$ (6,340)
Net loss per common share - basic (in dollars per share)	$ (0.17)	$ (0.11)
Net loss per common share - diluted (in dollars per share)	$ (0.17)	$ (0.11)
Weighted average common shares outstanding - basic (in shares)	59,354	57,132
Weighted average common shares outstanding - diluted (in shares)	59,354	57,132

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (9,932)	$ (6,338)
Adjustments to reconcile net loss to net cash flows from operating activities:
Stock-based compensation expense	858	254
Amortization of right to use lease asset	10	10
Non-cash interest expense	80	22
Change in fair value of derivative liabilities	(229)	0
Changes in operating assets and liabilities:
Prepaid expenses and other assets	160	289
Accounts payable, accrued expenses and other liabilities	864	(619)
Accrued interest on convertible debt - related party	147	0
Net cash from operating activities	(8,042)	(6,382)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of common stock and warrants	0	0
Net cash flows from financing activities	0	0
NET DECREASE IN CASH AND CASH EQUIVALENTS	(8,042)	(6,382)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	39,648	27,142	$ 27,142
CASH AND CASH EQUIVALENTS, END OF PERIOD	31,606	20,760	$ 39,648
NONCASH FINANCING ACTIVITIES:
Payment of preferred stock dividends in common stock	49	67
Reclassification of accrued bonus to additional paid in capital	200	60
Noncash right to use lease asset	$ 111	$ 0

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (UNAUDITED) - USD ($) $ in Thousands	Preferred Stock [Member] Series A 12% Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Deficit [Member]	Total
Beginning balance at Dec. 31, 2020					$ 1,723
Beginning balance (in shares) at Dec. 31, 2020					176
Ending balance at Mar. 31, 2021					$ 1,723
Ending balance (in shares) at Mar. 31, 2021					176
Beginning balance at Dec. 31, 2020	$ 527	$ 56	$ 261,883	$ (239,996)	$ 22,470
Beginning balance (in shares) at Dec. 31, 2020	1,302,500	57,077,055
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Series A 12% convertible preferred stock dividend			28	10	38
Series A 12% convertible preferred stock dividend (in shares)		13,025
Series C super dividend redeemable convertible preferred stock dividend			39	(12)	27
Series C super dividend redeemable convertible preferred stock dividend (in shares)		17,600
Issuance of common stock for exercise of options (in shares)		46,282
Stock-based compensation expense			314		314
Stock-based compensation expense (in shares)		32,693
Net loss				(6,338)	(6,338)
Ending balance at Mar. 31, 2021	$ 527	$ 56	262,264	(246,336)	16,511
Ending balance (in shares) at Mar. 31, 2021	1,302,500	57,186,655
Beginning balance at Dec. 31, 2021					$ 1,723
Beginning balance (in shares) at Dec. 31, 2021					176
Ending balance at Mar. 31, 2022					$ 1,723
Ending balance (in shares) at Mar. 31, 2022					176
Beginning balance at Dec. 31, 2021	$ 527	$ 59	271,001	(270,694)	$ 893
Beginning balance (in shares) at Dec. 31, 2021	1,302,500	59,341,305
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Series A 12% convertible preferred stock dividend			20	18	38
Series A 12% convertible preferred stock dividend (in shares)		13,025
Series C super dividend redeemable convertible preferred stock dividend			29	(2)	27
Series C super dividend redeemable convertible preferred stock dividend (in shares)		17,600
Stock-based compensation expense			1,058		1,058
Stock-based compensation expense (in shares)		16,588
Net loss				(9,932)	(9,932)
Ending balance at Mar. 31, 2022	$ 527	$ 59	$ 272,108	$ (280,610)	$ (7,916)
Ending balance (in shares) at Mar. 31, 2022	1,302,500	59,388,518

Basis of Presentation and Liquidity	3 Months Ended
Basis of Presentation and Liquidity	Mar. 31, 2022
Basis of Presentation and Liquidity [Abstract]
Basis of Presentation	1. Basis of Presentation and Liquidity Galectin Therapeutics Inc. and subsidiaries (the “Company”) is a clinical stage biopharmaceutical company that is applying its leadership in galectin science and drug development to create new therapies for fibrotic disease and cancer. These candidates are based on the Company’s targeting of galectin proteins which are key mediators of biologic and pathologic function. These compounds also may have application for drugs to treat other diseases and chronic health conditions. The unaudited condensed consolidated financial statements as reported in this Quarterly Report on Form 10-Q reflect all adjustments which are, in the opinion of management, necessary to present fairly the financial position of the Company as of March 31, 2022 and the results of its operations for the three months ended March 31, 2022 and 2021 and its cash flows for the three months ended March 31, 2022 and 2021. All adjustments made to the interim financial statements include all those of a normal and recurring nature. Amounts presented in the condensed consolidated balance sheet as of December 31, 2021 are derived from the Company’s audited consolidated financial statements as of that date, but do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated through the date these financial statements are available to be issued. The results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. The unaudited condensed consolidated financial statements of the Company should be read in conjunction with its Annual Report on Form 10-K for the year ended December 31, 2021. The Company has operated at a loss since its inception and has had no revenues. The Company anticipates that losses will continue for the foreseeable future. At March 31, 2022, the Company had $31,606,000 of unrestricted cash and cash equivalents available to fund future operations. The Company believes there is sufficient cash to fund currently planned operations at least through May 16, 2023. We will require more cash to fund our operations after May 16, 2023 and believe we will be able to obtain additional financing. The currently planned operations include costs related to our adaptively designed NAVIGATE Phase 2b/3 clinical trial. Currently, we expect to require an additional approximately $40-$45 million to cover costs of the trial to reach the planned interim analysis estimated to occur in mid-2024 along with drug manufacturing and other scientific support activities and general and administrative costs. However, there can be no assurance that we will be successful in obtaining such new financing or, if available, that such financing will be on terms favorable to us. If we are unsuccessful in raising additional capital to fund operations before May 16, 2023, we may be required to cease operations. Accordingly, based on the forecasts and estimates underlying our current operating plan, the financial statements do not currently include any adjustments that might be necessary if we are unable to continue as a going concern. The Company was founded in July 2000, was incorporated in the State of Nevada in January 2001 under the name “Pro-Pharmaceuticals, Inc.,” and changed its name to “Galectin Therapeutics Inc.” on May 26, 2011.

Accrued Expenses and Other

3 Months Ended

Mar. 31, 2022

Accrued Expenses and Other [Abstract]

Accrued Expenses and Other

2. Accrued Expenses and Other

Accrued expenses consist of the following:

	March 31, 2022		December 31, 2021
	(in thousands)
Legal and accounting fees	$	90	$	68
Accrued compensation		300		728
Lease liability		14		8
Accrued research and development costs and other		7,225		6,359
Total	$	7,629	$	7,163

Research and development expenses, including personnel costs, allocated facility costs, lab supplies, outside services, contract laboratory costs related to manufacturing drug product, clinical trials and preclinical studies are charged to research and development expense as incurred. The Company accounts for nonrefundable advance payments for goods and services that will be used in future research and development activities as expense when the service has been performed or when the goods have been received. Our current NAVIGATE clinical trial is being supported by third-party contract research organizations, or CROs, and other vendors. We accrue expenses for clinical trial activities performed by CROs based upon the estimated amount of work completed on each trial. For clinical trial expenses and related expenses associated with the conduct of clinical trials, the significant factors used in estimating accruals include the number of patients enrolled, the number of active clinical sites, and the duration for which the patients have been enrolled in the trial. We monitor patient enrollment levels and related activities to the extent possible through internal reviews, review of contractual terms and correspondence with CROs. We base our estimates on the best information available at the time. We monitor patient enrollment levels and related activities to the extent possible through discussions with CRO personnel and based our estimates of clinical trial costs on the best information available at the time. However, additional information may become available to us which will allow us to make a more accurate estimate in future periods. In that event, we may be required to record adjustments to research and development expenses in future periods when the actual level of activity becomes more certain.

Convertible Notes Payable - Related Party	3 Months Ended
Convertible Notes Payable - Related Party	Mar. 31, 2022
Convertible Notes Payable - Related Party [Member]
Debt Instrument [Line Items]
Convertible Notes Payable - Related Party	3. Convertible Notes Payable – Related Party On April 16, 2021, the Company and Richard E. Uihlein entered into a debt financing arrangement whereby Mr. Uihlein loaned $10,000,000 to Company. In consideration for the loan, the Company issued a convertible promissory note (the “April Note”) in the principal amount of ten million dollars. The April Note has a maturity date of April 16, 2025, is prepayable at the option of the Company in whole or in part at any time and is convertible into the Company’s common stock at a conversion price equal to $5.00 per share at the option of the noteholder. The April Note bears interest at the rate of two percent (2%) per annum, compounded annually. For the three months ended March 31, 2022, approximately $49,000 of interest expense was accrued and included with the principal in the financial statements. Inception to March 31, 2022, approximately $191,000 of interest expense has been accrued and included with the principal balance. The April Note also includes a contingent interest component that requires the Company to pay additional interest at a rate of two and one-half percent (2.5%) per quarter (10% per annum) (the “Additional Interest”) beginning on the date of issuance of this Note and ending on the maturity date, provided however, that such payment is only required if and only if the noteholder elects to convert the entire balance of the April Note into the Company’s common stock on or prior to maturity. As the contingent event is not based on creditworthiness, such feature is not clearly and closely related to the host instrument and accordingly must be bifurcated and recognized as a derivative liability and a debt discount on the April Note at its inception. The fair value of the contingent interest derivative liability was $420,000 and $391,000 at note inception (April 16, 2021) and March 31, 2022, respectively, and is recognized as a derivative liability in the consolidated balance sheet. The change in the fair value of the derivative liability from December 31, 2021 to March 31, 2022 of ($104,000) was charged to other income for the three months ended March 31, 2022. The amortization of the debt discount of $420,000 recorded initially upon note inception of $26,000 was recorded as additional interest expense for the for the three months ended March 31, 2022. On September 17, 2021, the Company and Mr. Uihlein entered into a loan agreement in the aggregate of $20,000,000 (the “Loan Agreement”) to be funded in two closings and evidenced by two separate unsecured convertible promissory notes. The first of the two promissory notes was also executed and delivered on September 17, 2021, (the “September Note”) to evidence the first loan in the principal amount of $10,000,000. The second closing under the Loan Agreement for the remaining $10,000,000 occurred on December 20, 2021. The September Note has a maturity date of September 17, 2025, is prepayable at the option of the Company in whole or in part at any time and is convertible into the Company’s common stock at a conversion price equal to $8.64 per share at the option of the noteholder. The September Note bears interest at the rate of two percent (2%) per annum, compounded annually. For the three months ended March 31, 2022, approximately $49,000 of interest expense was accrued and included with the principal in the financial statements. Inception to March 31, 2022, approximately $107,000 of interest expense has been accrued and included with the principal balance. The September Note also includes a contingent interest component that requires the Company to pay additional interest at a rate of two and one-half percent (2.5%) per quarter (10% per annum) (the “Additional Interest”) beginning on the date of issuance of this Note and ending on the maturity date, provided however, that such payment is only required if and only if the noteholder elects to convert the entire balance of the September Note into the Company’s common stock on or prior to maturity. As the contingent event is not based on creditworthiness, such feature is not clearly and closely related to the host instrument and accordingly must be bifurcated and recognized as a derivative liability and a debt discount on the September Note at its inception. The fair value of the contingent interest derivative liability was $433,000 and $188,000 at note inception (September 17, 2021) and March 31, 2022, respectively, and is recognized as a derivative liability in the consolidated balance sheet. The change in the fair value of the derivative liability from December 31, 2021 to March 31, 2022 of ($62,000) was recorded to other income for the three months ended March 31, 2022. The amortization of the debt discount of $433,000 recorded initially upon note inception of $27,000 was recorded as additional interest expense for the three months ended March 31, 2022. On December 20, 2021, the second of the two promissory notes under the Loan Agreement was executed and delivered, (the “December Note”) to evidence the second loan in the principal amount of $10,000,000. The December Note has a maturity date of December 20, 2025, is prepayable at the option of the Company in whole or in part at any time and is convertible into the Company’s common stock at a conversion price equal to $5.43 per share at the option of the noteholder. The December Note bears interest at the rate of two percent (2%) per annum, compounded annually. For the three months ended March 31, 2022, approximately $49,000 of interest expense was accrued and included with the principal in the financial statements. Inception to March 31, 2022, approximately $56,000 of interest expense has been accrued and included with the principal balance. The December Note also includes a contingent interest component that requires the Company to pay additional interest at a rate of two and one-half percent (2.5%) per quarter (10% per annum) (the “Additional Interest”) beginning on the date of issuance of this Note and ending on the maturity date, provided however, that such payment is only required if and only if the noteholder elects to convert the entire balance of the December Note into the Company’s common stock on or prior to maturity. As the contingent event is not based on creditworthiness, such feature is not clearly and closely related to the host instrument and accordingly must be bifurcated and recognized as a derivative liability and a debt discount on the December Note at its inception. The fair value of the contingent interest derivative liability was $415,000 and $323,000 at note inception (December 20, 2021) and March 31, 2022, respectively, and is recognized as a derivative liability in the consolidated balance sheet. The change in the fair value of the derivative liability from December 31, 2021 to March 31, 2022 of ($63,000) was recorded to other income for three months ended March 31, 2022. The amortization of the debt discount of $415,000 recorded initially upon note inception of $26,000 was recorded as additional interest expense for the for three months ended March 31, 2022. The Company’s contractual cash obligations related to the outstanding convertible notes payable is a repayment of the April Note of the $10,000,000 plus accrued interest on April 16, 2025 and a repayment of the September Note of the $10,000,000 plus accrued interest on September 17, 2025 and a repayment of the December Note of the $10,000,000 plus accrued interest on December 30, 2025, unless converted at the option of the noteholder.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2022

Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Instruments

4. Fair Value of Financial Instruments

The Company has certain financial assets and liabilities recorded at fair value. Fair values determined by Level 1 inputs utilize observable data such as quoted prices in active markets. Fair values determined by Level 2 inputs utilize data points other than quoted prices in active markets that are observable either directly or indirectly. Fair values determined by Level 3 inputs utilize unobservable data points in which there is little or no market data, which require the reporting entity to develop its own assumptions. The carrying amounts reflected in the consolidated balance sheets for cash equivalents, accounts payable and accrued expenses approximate their carrying value due to their short-term nature. There were no level 2 assets or liabilities at March 31, 2022 or December 31, 2021. See below for Fair Value of Derivatives related to Convertible Notes Payable at March 31, 2022 and December 31, 2021, which are level 3 liabilities.

Assets and liabilities measured and recorded at fair value on a recurring basis at March 31, 2022 were as follows:

	Level 1		Level 2		Level 3		Total
Derivative Liability – Contingent Interest April Note	$	—	$	—	$	391,000	$	391,000
Derivative Liability – Contingent Interest September Note	$	—	$	—	$	188,000	$	188,000
Derivative Liability – Contingent Interest December Note	$	—	$	—	$	323,000	$	323,000

The April Note derivative liability – contingent interest was valued using a Monte Carlo Geometric Brownian Stock Path Model. The key assumptions used in the model at inception, and at March 31, 2022 are as follows:

	Inception			March 31, 2022
Stock Price	$	2.19		$	1.61
Conversion Price of conversion feature	$	5.00		$	5.00
Term	4 years			3.04 years
Risk Free Interest Rate		0.59	%		2.45	%
Credit Adjusted Discount Rate		7.60	%		10.25	%
Volatility		88	%		78	%
Dividend Rate		0	%		0	%

The roll forward of the April Note derivative liability – contingent interest is as follows:

Balance – December 31, 2020	$	—
Issuance of April convertible note payable – related party		420,000
Fair Value Adjustment		75,000
Balance – December 31, 2021	$	495,000
Fair Value Adjustment		(104,000	)
Balance – March 31, 2022	$	391,000

The September Note derivative liability – contingent interest was valued using a Monte Carlo Geometric Brownian Stock Path Model. The key assumptions used in the model at inception, and at March 31, 2022 are as follows:

		Inception				March 31, 2022
Stock Price		$	4.06			$	1.61
Conversion Price of conversion feature		$	8.64			$	8.64
Term	4 years				3.47 years
Risk Free Interest Rate			0.68	%			2.45	%
Credit Adjusted Discount Rate			7.59	%			10.25	%
Volatility			91	%			78	%
Dividend Rate			0	%			0	%

The roll forward of the September Note derivative liability – contingent interest is as follows:

Balance – December 31, 2020	$	—
Issuance of September convertible note payable – related party		433,000
Fair Value Adjustment		(183,000	)
Balance – December 31, 2021	$	250,000
Fair Value Adjustment		(62,000	)
Balance – March 31, 2022	$	188,000

The December Note derivative liability – contingent interest was valued using a Monte Carlo Geometric Brownian Stock Path Model. The key assumptions used in the model at inception, and at March 31, 2022 are as follows:

	Inception			March 31, 2022
Stock Price	$	2.32		$	1.61
Conversion Price of conversion feature	$	5.43		$	5.43
Term	4 years			3.73 years
Risk Free Interest Rate		1.04	%		2.44	%
Credit Adjusted Discount Rate		8.54	%		10.25	%
Volatility		86	%		79	%
Dividend Rate		0	%		0	%

The roll forward of the December Note derivative liability – contingent interest is as follows:

Balance – December 31, 2020	$	—
Issuance of September convertible note payable – related party		415,000
Fair Value Adjustment		(30,000	)
Balance – December 31, 2021	$	385,000
Fair Value Adjustment		(62,000	)
Balance – March 31, 2022	$	323,000

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stock-Based Compensation

3 Months Ended

Mar. 31, 2022

Stock-Based Compensation [Abstract]

Stock-Based Compensation

5. Stock-Based Compensation

Following is the stock-based compensation expense related to common stock options, restricted common stock, common stock warrants and deferred stock units:

	Three Months Ended March 31,
	2022		2021
Research and development	$	225	$	67
General and administrative		633		187
Total stock-based compensation expense	$	858	$	254

The following table summarizes the stock option activity in the Company’s equity incentive plans, including non-plan grants to Company executives, from December 31, 2021 through March 31, 2022:

	Shares			Weighted Average Exercise Price
Outstanding, December 31, 2021		4,895,561		$	3.14
Granted		745,000			1.98
Exercised		—
Options forfeited/cancelled		(10,000	)		4.50
Outstanding, March 31, 2022		5,630,561		$	2.98

As of March 31, 2021, there was $3,995,000 of unrecognized compensation related to 2,945,001 unvested options, which is expected to be recognized over a weighted–average period of approximately 1.75 years. The weighted-average grant date fair value for options granted during the three months ended March 31, 2022 was $1.48. The Company granted 745,000 stock options during the three months ended March 31, 2022.

The fair value of all other options granted is determined using the Black-Scholes option-pricing model. The following weighted average assumptions were used:

	Three Months Ended March 31,			Three Months Ended March 31,
	2022			2021
Risk-free interest rate		1.23	%		0.54	%
Expected life of the options	5.5 years			6 years
Expected volatility of the underlying stock		95	%		91	%
Expected dividend rate		0	%		0	%

In January 2022, the Company’s board chairman elected to take restricted stock grants in lieu of cash retainers for 2022. A total of 17,677 shares of restricted stock valued at approximately $35,000 is being amortized to expense on a straight-line basis until December 31, 2022 when the stock vests in full.

In March 2021, the Company’s board chairman elected to take a restricted stock grant in lieu of cash retainers for 2021. A total of 16,588 shares of restricted stock valued at approximately $35,000 was amortized to expense on a straight-line basis until December 31, 2021 when the stock vested in full.

In September 2020, the Company entered into an employment agreement with its new Chief Executive Officer whereby 20% of his base salary and performance bonuses will be paid in cash, and 80% will be paid in the form of deferred stock units (“DSUs”) in accordance with the terms and subject to the provisions set forth in the DSU Agreement. DSUs credited to Mr. Lewis as of any date shall be fully vested and nonforfeitable at all times. The Company shall issue the shares underlying the outstanding whole number of DSUs credited to Mr. Lewis as follows: twenty five percent shall be issued on March 1, 2023, twenty five percent shall be issued on September 1, 2023 and fifty percent shall be issued on March 1, 2024. For the three months ended March 31, 2022, approximately $103,000 of his compensation was recorded as stock compensation expense representing 55,626 shares of common stock to be issued under the DSU agreement with a weighted average grant date fair value of $1.86 per share. Also, Mr. Lewis’ bonus for the year ended December 31, 2021 of $200,000 (which was included in accrued compensation at December 31, 2021) was approved in January 2022 and represents 103,627 shares of common stock to be issued under the DSU agreement with a grant date fair value of $1.93 per share. The $200,000 was reclassified from accrued compensation to additional paid in capital in January 2022. There is no unrecognized compensation expense related to the DSUs.

Common Stock Warrants

3 Months Ended

Mar. 31, 2022

Common Stock Warrants [Abstract]

Common Stock Warrants

6. Common Stock Warrants

The following table summarizes the common stock warrant activity from December 31, 2021 through March 31, 2022:

	Shares		Weighted Average Exercise Price
Outstanding, December 31, 2021		10,857,964	$	4.37
Granted		—		—
Exercised		—		—
Forfeited/cancelled		—		—
Outstanding, March 31, 2022		10,857,964	$	4.37

The weighted average expiration of the warrants outstanding as of March 31, 2022 is 2.5 years.

Loss Per Share

3 Months Ended

Mar. 31, 2022

Loss Per Share [Abstract]

Loss Per Share

7. Loss Per Share

Basic net loss per common share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares and other potential common shares then outstanding. Potential common shares consist of common shares issuable upon the assumed exercise of in-the-money stock options and warrants and potential common shares related to the conversion of the preferred stock. The computation of diluted net loss per share does not assume the issuance of common shares that have an anti-dilutive effect on net loss per share.

Dilutive shares which could exist pursuant to the exercise of outstanding stock instruments and which were not included in the calculation because their affect would have been anti-dilutive are as follows:

	March 31, 2022 (shares)		March 31, 2021 (shares)
Warrants to purchase shares of common stock		10,857,964		12,538,204
Options to purchase shares of common stock		5,630,561		5,762,575
Shares of common stock issuable upon conversion of convertible notes payable		5,365,259		—
Shares of common stock issuable upon conversion of preferred stock		510,424		510,424
		22,364,208		18,811,203

Common Stock	3 Months Ended
Common Stock	Mar. 31, 2022
Common Stock [Abstract]
Common Stock	8. Common Stock 2020 At Market Issuance of Common Stock On May 11, 2020, the Company entered into an At Market Issuance Sales Agreement (the “2020 At Market Agreement”) with a sales agent under which the Company may issue and sell shares of its common stock having an aggregate offering price of up to $40.0 million from time to time through the sales agent. Sales of the Company’s common stock through the sales agent, if any, will be made by any method that is deemed an “at the market” offering as defined by the U.S. Securities and Exchange Commission. The Company will pay to the sales agent a commission rate equal to 3.0% of the gross proceeds from the sale of any shares of common stock sold through the sales agent under the 2020 At Market Agreement. During the quarter ended March 31, 2022, there were no issuances of shares of common stock under the 2020 At Market Agreement. For each of the three months ended March 31, 2022 and 2021, the Company issued a total of 30,625 and 30,625 shares of common stock, respectively, for dividends on Series A and Series C Preferred Stock.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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+ Details

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2022
Commitments and Contingencies [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies Other Legal Proceedings The Company records accruals for such contingencies to the extent that the Company concludes that their occurrence is probable and the related damages are estimable. There are no significant pending legal proceedings. Clinical Trial and Research Commitments The Company has entered into agreements with contractors for research and development activities to further its product candidates. The contracts generally may be canceled at any time by providing thirty days’ notice.

Leases

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

10. Leases

The Company has one operating lease for its office space which was amended effective March 1, 2022 for a term of 38 months with no residual value guarantees or material restrictive covenants. The amended lease provided for free rent for the first six and a half months of the lease and continues the security deposit of $6,000. In addition to base rental payments included in the contractual obligations table above, the Company is responsible for our pro-rata share of the operating expenses for the building. Our lease cost for the three-month periods ended March 31, 2022 and 2021 was approximately $11,000 for each period and is included in general and administrative expenses. As of March 31, 2022, the right to use lease asset consisted of $108,000 and is included in other assets. Also, at March 31, 2022, current lease liability of $14,000 is included in accrued expenses and long term lease liability was $97,000 and included in other liabilities.

Maturity of operating lease as of March 31, 2022 in thousands:

2022		14
2023		50
2024		51
2025		18
Total		133
Less imputed interest		22
Present value of lease liability	$	111

The discount rate used in calculating the present value of the lease payments was 11%.

Galectin Sciences LLC	3 Months Ended
Galectin Sciences LLC	Mar. 31, 2022
Galectin Sciences LLC [Abstract]
Galectin Sciences LLC	11. Galectin Sciences LLC In January 2014, we created Galectin Sciences, LLC (the “LLC” or “Investee”), a collaborative joint venture co-owned by SBH Sciences, Inc. (“SBH”), to research and develop small organic molecule inhibitors of galectin-3 for oral administration. The LLC was initially capitalized with a $400,000 cash investment to fund future research and development activities, which was provided by the Company, and specific in-process research and development (“IPR&D”) contributed by SBH. The estimated fair value of the IPR&D contributed by SBH, on the date of contribution, was $400,000. Initially, the Company and SBH each had a 50% equity ownership interest in the LLC, with neither party having control over the LLC. Accordingly, from inception through the fourth quarter of 2014, the Company accounted for its investment in the LLC using the equity method of accounting. Under the equity method of accounting, the Company’s investment was initially recorded at cost with subsequent adjustments to the carrying value to recognize additional investments in or distributions from the Investee, as well as the Company’s share of the Investee’s earnings, losses and/or changes in capital. The estimated fair value of the IPR&D contributed to the LLC was immediately expensed upon contribution as there was no alternative future use available at the point of contribution. The operating agreement provides that if either party does not desire to contribute its equal share of funding required after the initial capitalization, then the other party, providing all of the funding, will have its ownership share increased in proportion to the total amount contributed from inception. In the fourth quarter of 2014, after the LLC had expended the $400,000 in cash, SBH decided not to contribute its share of the funding required. Cumulatively, the Company has contributed a total of $3,068,000, including $43,000 for the three months ended March 31, 2022, for expenses of the LLC. Since the end of 2014, SBH has contributed $158,000 for expenses in the LLC. As of March 31, 2022, the Company’s ownership percentage in the LLC was 84.6%. The Company accounts for the interest in the LLC as a consolidated, less than wholly owned subsidiary. Because the LLC’s equity is immaterial, the value of the non-controlling interest is also deemed to be immaterial.

Accrued Expenses and Other (Tables)

3 Months Ended

Mar. 31, 2022

Accrued Expenses and Other [Abstract]

Accrued Expenses

Accrued expenses consist of the following:

	March 31, 2022		December 31, 2021
	(in thousands)
Legal and accounting fees	$	90	$	68
Accrued compensation		300		728
Lease liability		14		8
Accrued research and development costs and other		7,225		6,359
Total	$	7,629	$	7,163

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value of Financial Instruments [Abstract]

Assets and Liabilities Measured and Recorded at Fair Value on Recurring Basis

Assets and liabilities measured and recorded at fair value on a recurring basis at March 31, 2022 were as follows:

	Level 1		Level 2		Level 3		Total
Derivative Liability – Contingent Interest April Note	$	—	$	—	$	391,000	$	391,000
Derivative Liability – Contingent Interest September Note	$	—	$	—	$	188,000	$	188,000
Derivative Liability – Contingent Interest December Note	$	—	$	—	$	323,000	$	323,000

April Note [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Key Assumptions Used in Model at Inception

	Inception			March 31, 2022
Stock Price	$	2.19		$	1.61
Conversion Price of conversion feature	$	5.00		$	5.00
Term	4 years			3.04 years
Risk Free Interest Rate		0.59	%		2.45	%
Credit Adjusted Discount Rate		7.60	%		10.25	%
Volatility		88	%		78	%
Dividend Rate		0	%		0	%

Roll Forward of Derivative Liability - Contingent Interest

The roll forward of the April Note derivative liability – contingent interest is as follows:

Balance – December 31, 2020	$	—
Issuance of April convertible note payable – related party		420,000
Fair Value Adjustment		75,000
Balance – December 31, 2021	$	495,000
Fair Value Adjustment		(104,000	)
Balance – March 31, 2022	$	391,000

September Note [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Key Assumptions Used in Model at Inception

		Inception				March 31, 2022
Stock Price		$	4.06			$	1.61
Conversion Price of conversion feature		$	8.64			$	8.64
Term	4 years				3.47 years
Risk Free Interest Rate			0.68	%			2.45	%
Credit Adjusted Discount Rate			7.59	%			10.25	%
Volatility			91	%			78	%
Dividend Rate			0	%			0	%

Roll Forward of Derivative Liability - Contingent Interest

The roll forward of the September Note derivative liability – contingent interest is as follows:

Balance – December 31, 2020	$	—
Issuance of September convertible note payable – related party		433,000
Fair Value Adjustment		(183,000	)
Balance – December 31, 2021	$	250,000
Fair Value Adjustment		(62,000	)
Balance – March 31, 2022	$	188,000

December Note [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Key Assumptions Used in Model at Inception

	Inception			March 31, 2022
Stock Price	$	2.32		$	1.61
Conversion Price of conversion feature	$	5.43		$	5.43
Term	4 years			3.73 years
Risk Free Interest Rate		1.04	%		2.44	%
Credit Adjusted Discount Rate		8.54	%		10.25	%
Volatility		86	%		79	%
Dividend Rate		0	%		0	%

Roll Forward of Derivative Liability - Contingent Interest

The roll forward of the December Note derivative liability – contingent interest is as follows:

Balance – December 31, 2020	$	—
Issuance of September convertible note payable – related party		415,000
Fair Value Adjustment		(30,000	)
Balance – December 31, 2021	$	385,000
Fair Value Adjustment		(62,000	)
Balance – March 31, 2022	$	323,000

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Stock-Based Compensation [Abstract]

Components of Stock-Based Compensation Expense

Following is the stock-based compensation expense related to common stock options, restricted common stock, common stock warrants and deferred stock units:

	Three Months Ended March 31,
	2022		2021
Research and development	$	225	$	67
General and administrative		633		187
Total stock-based compensation expense	$	858	$	254

Stock Option Activity

The following table summarizes the stock option activity in the Company’s equity incentive plans, including non-plan grants to Company executives, from December 31, 2021 through March 31, 2022:

	Shares			Weighted Average Exercise Price
Outstanding, December 31, 2021		4,895,561		$	3.14
Granted		745,000			1.98
Exercised		—
Options forfeited/cancelled		(10,000	)		4.50
Outstanding, March 31, 2022		5,630,561		$	2.98

Weighted Average Assumptions Used to Determine Fair Value of Options Granted

The fair value of all other options granted is determined using the Black-Scholes option-pricing model. The following weighted average assumptions were used:

	Three Months Ended March 31,			Three Months Ended March 31,
	2022			2021
Risk-free interest rate		1.23	%		0.54	%
Expected life of the options	5.5 years			6 years
Expected volatility of the underlying stock		95	%		91	%
Expected dividend rate		0	%		0	%

Common Stock Warrants (Tables)

3 Months Ended

Mar. 31, 2022

Common Stock Warrants [Abstract]

Common Stock Warrant Activity

The following table summarizes the common stock warrant activity from December 31, 2021 through March 31, 2022:

	Shares		Weighted Average Exercise Price
Outstanding, December 31, 2021		10,857,964	$	4.37
Granted		—		—
Exercised		—		—
Forfeited/cancelled		—		—
Outstanding, March 31, 2022		10,857,964	$	4.37

Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2022

Loss Per Share [Abstract]

Antidilutive Securities Excluded from Computation of Earnings Per Share

	March 31, 2022 (shares)		March 31, 2021 (shares)
Warrants to purchase shares of common stock		10,857,964		12,538,204
Options to purchase shares of common stock		5,630,561		5,762,575
Shares of common stock issuable upon conversion of convertible notes payable		5,365,259		—
Shares of common stock issuable upon conversion of preferred stock		510,424		510,424
		22,364,208		18,811,203

Leases (Tables)

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Maturity of Operating Lease

Maturity of operating lease as of March 31, 2022 in thousands:

2022		14
2023		50
2024		51
2025		18
Total		133
Less imputed interest		22
Present value of lease liability	$	111

Basis of Presentation and Liquidity (Details) - USD ($)	3 Months Ended
Basis of Presentation and Liquidity (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Basis of Presentation [Abstract]
Cash and cash equivalents	$ 31,606,000	$ 39,648,000
Minimum [Member]
Basis of Presentation [Abstract]
Additional estimated costs of clinical trial and general overhead	40,000,000
Maximum [Member]
Basis of Presentation [Abstract]
Additional estimated costs of clinical trial and general overhead	$ 45,000,000

Accrued Expenses and Other (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Accrued Expenses and Other [Abstract]
Legal and accounting fees	$ 90,000	$ 68,000
Accrued compensation	300,000	728,000
Lease liability	14,000	8,000
Accrued research and development costs and other	7,225,000	6,359,000
Total	$ 7,629,000	$ 7,163,000

Convertible Notes Payable - Related Party (Details)							3 Months Ended			6 Months Ended	11 Months Ended
Convertible Notes Payable - Related Party (Details)	Dec. 30, 2025 USD ($)	Sep. 17, 2025 USD ($)	Apr. 16, 2025 USD ($)	Dec. 20, 2021 USD ($) PromissoryNote $ / shares	Sep. 17, 2021 USD ($) loan PromissoryNote	Apr. 16, 2021 USD ($)	Mar. 31, 2022 USD ($) $ / shares	Mar. 31, 2022 USD ($) $ / shares	Mar. 31, 2021 USD ($)	Mar. 31, 2022 USD ($) $ / shares	Mar. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($)
Convertible Notes Payable - Related Party [Abstract]
Fair value of derivative liability							$ 901,000	$ 901,000		$ 901,000	$ 901,000	$ 1,130,000
Change in fair value of derivative								229,000	$ 0
April Note [Member]
Convertible Notes Payable - Related Party [Abstract]
Change in fair value of derivative								(104,000)
Amortization of debt discount								420,000
Additional interest expense								$ 26,000
April Note [Member] \| Forecast [Member]
Convertible Notes Payable - Related Party [Abstract]
Convertible note payable repayment			$ 10,000,000
April Note [Member] \| Richard E. Uihlein [Member]
Convertible Notes Payable - Related Party [Abstract]
Debt financing arrangement						$ 10,000,000
Convertible note principal						$ 10,000,000
Maturity date								Apr. 16, 2025
Conversion price (in dollars per share) \| $ / shares							$ 5.00	$ 5.00		$ 5.00	$ 5.00
Interest rate compounded annually							2.00%	2.00%		2.00%	2.00%
Accrued interest expense								$ 49,000			$ 191,000
Additional interest rate per quarter						2.50%
Additional interest rate per annum from issuance date to maturity date period						10.00%
Fair value of derivative liability						$ 420,000	$ 391,000	391,000		$ 391,000	$ 391,000
September Note [Member]
Convertible Notes Payable - Related Party [Abstract]
Change in fair value of derivative								(62,000)
Amortization of debt discount								433,000
Additional interest expense								$ 27,000
September Note [Member] \| Forecast [Member]
Convertible Notes Payable - Related Party [Abstract]
Convertible note payable repayment		$ 10,000,000
September Note [Member] \| Richard E. Uihlein [Member]
Convertible Notes Payable - Related Party [Abstract]
Debt financing arrangement					$ 20,000,000
Maturity date								Sep. 17, 2025
Number of loans closing \| loan					2
Number of promissory notes evidenced by loans agreement \| PromissoryNote					2
Number of promissory notes executed \| PromissoryNote					2
Conversion price (in dollars per share) \| $ / shares							$ 8.64	$ 8.64		$ 8.64	$ 8.64
Interest rate compounded annually							2.00%	2.00%		2.00%	2.00%
Accrued interest expense								$ 49,000		$ 107,000
Additional interest rate per quarter					2.50%
Additional interest rate per annum from issuance date to maturity date period					10.00%
Fair value of derivative liability					$ 433,000		$ 188,000	$ 188,000		188,000	$ 188,000
First Closing [Member] \| Richard E. Uihlein [Member]
Convertible Notes Payable - Related Party [Abstract]
Debt financing arrangement					$ 10,000,000
Second Closing [Member] \| Richard E. Uihlein [Member]
Convertible Notes Payable - Related Party [Abstract]
Debt financing arrangement				$ 10,000,000
December Note [Member]
Convertible Notes Payable - Related Party [Abstract]
Convertible note principal				$ 10,000,000
Maturity date								Dec. 20, 2025
Number of promissory notes evidenced by loans agreement \| PromissoryNote				2
Conversion price (in dollars per share) \| $ / shares				$ 5.43
Interest rate compounded annually				2.00%
Accrued interest expense							56,000	$ 49,000
Additional interest rate per quarter				2.50%
Additional interest rate per annum from issuance date to maturity date period				10.00%
Fair value of derivative liability				$ 415,000			$ 323,000	323,000		$ 323,000	$ 323,000
Change in fair value of derivative								(63,000)
Amortization of debt discount								415,000
Additional interest expense								$ 26,000
December Note [Member] \| Forecast [Member]
Convertible Notes Payable - Related Party [Abstract]
Convertible note payable repayment	$ 10,000,000

Fair Value of Financial Instruments, Assets and Liabilities Measured at Fair Value (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	$ 901,000	$ 1,130,000
April Note [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	391,000	495,000	$ 0
September Note [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	188,000	250,000	0
December Note [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	323,000	385,000	$ 0
Recurring [Member] \| Level 2 [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Assets	0	0
Liabilities	0	$ 0
Recurring [Member] \| April Note [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	391,000
Recurring [Member] \| April Note [Member] \| Level 1 [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	0
Recurring [Member] \| April Note [Member] \| Level 2 [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	0
Recurring [Member] \| April Note [Member] \| Level 3 [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	391,000
Recurring [Member] \| September Note [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	188,000
Recurring [Member] \| September Note [Member] \| Level 1 [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	0
Recurring [Member] \| September Note [Member] \| Level 2 [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	0
Recurring [Member] \| September Note [Member] \| Level 3 [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	188,000
Recurring [Member] \| December Note [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	323,000
Recurring [Member] \| December Note [Member] \| Level 1 [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	0
Recurring [Member] \| December Note [Member] \| Level 2 [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	0
Recurring [Member] \| December Note [Member] \| Level 3 [Member]
Assets and Liabilities Measured at Fair Value [Abstract]
Derivative Liability - Contingent Interest	$ 323,000

Fair Value of Financial Instruments, Key Assumptions (Details)				3 Months Ended
	Dec. 20, 2021 shares	Sep. 17, 2021	Apr. 16, 2021	Mar. 31, 2022 shares
Stock Price [Member] \| April Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input			2.19	1.61
Stock Price [Member] \| September Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input		4.06		1.61
Stock Price [Member] \| December Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input	2.32			1.61
Conversion Price of Conversion Feature [Member] \| April Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input			5.00	5.00
Conversion Price of Conversion Feature [Member] \| September Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input		8.64		8.64
Conversion Price of Conversion Feature [Member] \| December Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input	5.43			5.43
Term [Member] \| April Note [Member]
Key Assumptions [Abstract]
Term			4 years	3 years 14 days
Term [Member] \| September Note [Member]
Key Assumptions [Abstract]
Term		4 years		3 years 5 months 19 days
Term [Member] \| December Note [Member]
Key Assumptions [Abstract]
Term	4 years			3 years 8 months 23 days
Risk Free Interest Rate [Member] \| April Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input			0.0059	0.0245
Risk Free Interest Rate [Member] \| September Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input		0.0068		0.0245
Risk Free Interest Rate [Member] \| December Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input	0.0104			0.0244
Credit Adjusted Discount Rate [Member] \| April Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input			0.0760	0.1025
Credit Adjusted Discount Rate [Member] \| September Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input		0.0759		0.1025
Credit Adjusted Discount Rate [Member] \| December Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input	0.0854			0.1025
Volatility [Member] \| April Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input			0.88	0.78
Volatility [Member] \| September Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input		0.91		0.78
Volatility [Member] \| December Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input	0.86			0.79
Dividend Rate [Member] \| April Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input			0	0
Dividend Rate [Member] \| September Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input		0		0
Dividend Rate [Member] \| December Note [Member]
Key Assumptions [Abstract]
Derivative liability, measurement input	0			0

Fair Value of Financial Instruments, Roll Forward of Derivative Liability (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Roll Forward of Derivative Liability [Roll Forward]
Balance	$ 1,130,000
Fair Value Adjustment	(229,000)	$ 0
Balance	901,000		$ 1,130,000
April Note [Member]
Roll Forward of Derivative Liability [Roll Forward]
Balance	495,000	0	0
Issuance of convertible note payable - related party			420,000
Fair Value Adjustment	(104,000)		75,000
Balance	391,000		495,000
September Note [Member]
Roll Forward of Derivative Liability [Roll Forward]
Balance	250,000	0	0
Issuance of convertible note payable - related party			433,000
Fair Value Adjustment	(62,000)		(183,000)
Balance	188,000		250,000
December Note [Member]
Roll Forward of Derivative Liability [Roll Forward]
Balance	385,000	$ 0	0
Issuance of convertible note payable - related party			415,000
Fair Value Adjustment	(62,000)		(30,000)
Balance	$ 323,000		$ 385,000

Stock-Based Compensation, Components of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock-Based Compensation Expense [Abstract]
Total stock-based compensation expense	$ 858	$ 254
Research and Development [Member]
Stock-Based Compensation Expense [Abstract]
Total stock-based compensation expense	225	67
General and Administrative [Member]
Stock-Based Compensation Expense [Abstract]
Total stock-based compensation expense	$ 633	$ 187

Stock-Based Compensation, Stock Option Activity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock Option Activity [Roll Forward]
Outstanding at beginning of period (in shares)	4,895,561
Granted (in shares)	745,000
Exercised (in shares)	0
Forfeited/cancelled (in shares)	(10,000)
Outstanding at end of period (in shares)	5,630,561
Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 3.14
Granted (in dollars per share)	1.98
Forfeited/cancelled (in dollars per share)	4.50
Outstanding at beginning of period (in dollars per share)	2.98
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized [Abstract]
Unrecognized compensation cost		$ 3,995,000
Unvested options (in shares)		2,945,001
Unrecognized compensation cost, recognition period		1 year 9 months
Weighted-average grant-date fair value of options granted (in dollars per share)	$ 1.48

Stock-Based Compensation, Weighted Average Assumptions Used to Determine Fair Value of Options Granted (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Weighted Average Assumptions for Stock Options Granted [Abstract]
Risk-free interest rate	1.23%	0.54%
Expected life of the options	5 years 6 months	6 years
Expected volatility of the underlying stock	95.00%	91.00%
Expected dividend rate	0.00%	0.00%

Stock-Based Compensation, Restricted Stock Grants and Employment Agreement (Details) - USD ($)	1 Months Ended		3 Months Ended		12 Months Ended
	Jan. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Restricted Stock Grants [Abstract]
Amortized expense			$ 858,000	$ 254,000
Unrecognized compensation cost		$ 3,995,000		$ 3,995,000
Restricted Stock [Member]
Restricted Stock Grants [Abstract]
Restricted stock awards granted (in shares)	17,677	16,588
Amortized expense	$ 35,000	$ 35,000
Chief Executive Officer [Member]
Restricted Stock Grants [Abstract]
Unrecognized compensation cost			$ 0
Chief Executive Officer [Member] \| Deferred Bonus [Member]
Restricted Stock Grants [Abstract]
Percentage of base salary paid in cash			20.00%
Percentage of base salary paid in deferred stock units			80.00%
Percentage of DSUs shall be credited on March 1, 2021			25.00%
Percentage of DSUs shall be credited on September 1, 2021			25.00%
Percentage of DSUs shall be credited on March 1, 2024			50.00%
Stock based compensation expense			$ 103,000		$ 200,000
Common stock reserved for future issuance (in shares)			55,626		103,627
Common Stock Weighted average Grant Date fair Value (in dollars per share)			$ 1.86		$ 1.93
Reclassification of accrued compensation to additional paid in capital			$ 200,000

Common Stock Warrants (Details)	3 Months Ended
Common Stock Warrants (Details)	Mar. 31, 2022 $ / shares shares
Weighted Average Exercise Price [Abstract]
Weighted average expiration term of warrants outstanding	2 years 6 months
Warrants [Member]
Common Stock Warrants shares [Roll Forward]
Outstanding at beginning of period (in shares) \| shares	10,857,964
Granted (in shares) \| shares	0
Exercised (in shares) \| shares	0
Forfeited/cancelled (in shares) \| shares	0
Outstanding at end of period (in shares) \| shares	10,857,964
Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share) \| $ / shares	$ 4.37
Granted (in dollars per share) \| $ / shares	0
Exercised (in dollars per share) \| $ / shares	0
Forfeited/cancelled (in dollars per share) \| $ / shares	0
Outstanding at end of period (in dollars per share) \| $ / shares	$ 4.37

Loss Per Share (Details) - shares	3 Months Ended
Loss Per Share (Details) - shares	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Amount excluded from calculation (in shares)	22,364,208	18,811,203
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Amount excluded from calculation (in shares)	10,857,964	12,538,204
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Amount excluded from calculation (in shares)	5,630,561	5,762,575
Convertible Notes Payable [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Amount excluded from calculation (in shares)	5,365,259	0
Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Amount excluded from calculation (in shares)	510,424	510,424

Common Stock (Details) - USD ($) $ in Millions	3 Months Ended
Common Stock (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Common Stock [Abstract]
Issuance of common stock (in shares)	59,388,518		59,341,305
2020 Market Agreement [Member]
Common Stock [Abstract]
Aggregate offering price	$ 40.0
Percentage of commission rate to be paid to sales agent	3.00%
Issuance of common stock (in shares)	0
2020 Market Agreement [Member] \| Series A and Series C Preferred Stock [Member]
Common Stock [Abstract]
Common stock issued for dividends (in shares)	30,625	30,625

Commitments and Contingencies (Details)	3 Months Ended
Commitments and Contingencies (Details)	Mar. 31, 2022
Commitments and Contingencies [Abstract]
Contract cancelation notice period	30 days

Leases (Details)	3 Months Ended
Leases (Details)	Mar. 31, 2022 USD ($) Lease	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($)
Lease Commitments [Abstract]
Number of operating leases \| Lease	1
Term of contract	38 months
Free rent period	6 months 15 days
Security deposit	$ 6,000
Right to use lease asset	$ 108,000
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets
Current lease liability	$ 14,000		$ 8,000
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current
Long term lease liability	$ 97,000
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Maturity of Operating Lease [Abstract]
2022	$ 14,000
2023	50,000
2024	51,000
2025	18,000
Total	133,000
Less imputed interest	22,000
Present value of lease liability	$ 111,000
Discount rate on present value of lease payments	11.00%
General and Administrative Expense [Member]
Lease Commitments [Abstract]
Lease cost	$ 11,000	$ 11,000

Galectin Sciences LLC (Details) - USD ($)	1 Months Ended	3 Months Ended			99 Months Ended
Galectin Sciences LLC (Details) - USD ($)	Jan. 31, 2014	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2014	Mar. 31, 2022
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Amount expanded in cash		$ (8,042,000)	$ (6,382,000)
Galectin Sciences, LLC [Member]
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Initial cash investment	$ 400,000
Equity ownership percentage		84.60%			84.60%
Amount expanded in cash				$ 400,000
Contribution for expenses		$ 43,000			$ 3,068,000
Ownership percentage		84.60%			84.60%
Galectin Sciences, LLC [Member] \| SBH [Member]
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Equity ownership percentage	50.00%
Contribution for expenses		$ 158,000
Ownership percentage	50.00%
Galectin Sciences, LLC [Member] \| SBH [Member] \| IPR&D [Member]
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Estimated fair value of asset contributed to joint venture	$ 400,000