N,GALTW,N,N,N,Galectin Therapeutics annual loss widens

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03 April, 2025 14:04 IST

Galectin Therapeutics annual loss widens
Source: IRIS | 29 Mar, 2017, 12.00AM

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Galectin Therapeutics Inc. (GALT) saw its loss widen to $21.44 million, or $0.76 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $20.03 million, or $0.88 a share.

The company has not recorded any revenues for the current as well as previous year.

Operating loss for the year was $21.48 million, compared with an operating loss of $20.08 million in the previous year.

"Galectin Therapeutics achieved a number of significant milestones in the development of our lead compound, GR-MD-02, during 2016," said Peter G. Traber, M.D., president, chief executive officer and chief medical officer of Galectin Therapeutics. "Furthermore, we've recently completed equity financings that have generated sufficient funding to cover currently planned expenditures through 2017. "In summary, we believe that Galectin is in a solid position from clinical, financial and leadership perspectives," Dr. Traber concluded.

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