|
|
|
(State or Other Jurisdiction of Incorporation)
|
(Commission File Number)
|
(IRS Employer Identification No.)
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Title of each class
|
Trading Symbol
|
Name of each exchange on which registered
|
|
|
|
Item 2.02 |
Results of Operations and Financial Condition.
|
Item 9.01 |
Financial Statements and Exhibits.
|
Exhibit Number
|
Description
|
||
Press Release dated November 14, 2022
|
Galectin Therapeutics Inc.
|
|||
Date: November 14, 2022
|
By:
|
/s/ Jack W. Callicutt
|
|
Jack W. Callicutt
|
|||
Chief Financial Officer
|
Three Months Ended
September 30,
|
Nine Months Ended
September 30,
|
|||||||||||||||
2022
|
2021
|
2022
|
2021
|
|||||||||||||
(in thousands, except per share data)
|
||||||||||||||||
Operating expenses:
|
||||||||||||||||
Research and development
|
$
|
6,598
|
$
|
6,613
|
$
|
22,730
|
$
|
17,962
|
||||||||
General and administrative
|
1,524
|
1,631
|
4,989
|
4,792
|
||||||||||||
Total operating expenses
|
8,122
|
8,244
|
27,719
|
22,754
|
||||||||||||
Total operating loss
|
(8,122
|
)
|
(8,244
|
)
|
(27,719
|
)
|
(22,754
|
)
|
||||||||
Other income (expense):
|
||||||||||||||||
Interest income
|
18
|
1
|
22
|
3
|
||||||||||||
Interest expense
|
(269
|
)
|
(111
|
)
|
(725
|
)
|
(217
|
)
|
||||||||
Change in fair value of derivative
|
(224
|
)
|
(166
|
)
|
280
|
(338
|
)
|
|||||||||
Total other income
|
(475
|
)
|
(276
|
)
|
(423
|
)
|
(552
|
)
|
||||||||
Net loss
|
$
|
(8,597
|
)
|
$
|
(8,520
|
)
|
$
|
(28,142
|
)
|
$
|
(23,306
|
)
|
||||
Preferred stock dividends
|
16
|
(37
|
)
|
(32
|
)
|
(104
|
)
|
|||||||||
Warrant modification
|
||||||||||||||||
Net loss applicable to common stock
|
$
|
(8,581
|
)
|
$
|
(8,557
|
)
|
$
|
(28,174
|
)
|
$
|
(23,410
|
)
|
||||
Basic and diluted net loss per share
|
$
|
(0.14
|
)
|
$
|
(0.14
|
)
|
$
|
(0.47
|
)
|
$
|
(0.40
|
)
|
||||
Shares used in computing basic and diluted net loss per share
|
59,396
|
59,290
|
59,380
|
58,253
|
September 30, 2022
|
December 31, 2021
|
|||||||
(in thousands)
|
||||||||
Cash and cash equivalents
|
$
|
15,831
|
$
|
39,648
|
||||
Total assets
|
17,914
|
41,827
|
||||||
Total current liabilities
|
9,588
|
9,033
|
||||||
Total liabilities
|
40,249
|
39,211
|
||||||
Total redeemable, convertible preferred stock
|
1,723
|
1,723
|
||||||
Total stockholders’ (deficit) equity
|
$
|
(24,058
|
)
|
$
|
893
|