Galectin Therapeutics Q2 loss widens to $9.2 million on $3.2 million derivative charge
Galectin Therapeutics reported its June 30, 2026 quarterly results, with a net loss applicable to common stockholders of $9.2 million, or $0.14 per share, up from $7.6 million, or $0.12 per share, a year earlier. The increase was mainly due to a $3.2 million charge for the change in fair value of derivative liabilities, and the company also reported that a $105.8 million debt conversion into common stock strengthened its balance sheet and that it reached FDA alignment on its planned Phase 3 trial.
Key points
- Q2 2026 net loss applicable to common stockholders was $9.2 million, or $0.14 per share, versus $7.6 million, or $0.12 per share, in Q2 2025
- Chairman Richard Uihlein's conversion of about $105.8 million in debt and accrued interest into 34,376,167 common shares took effect July 31, 2026
- Cash and cash equivalents were $13.2 million at June 30, 2026, with $10 million remaining under the chairman's line of credit; the company expects cash to fund planned operations through June 2027
- The company expects to submit the registrational Phase 3 protocol for belapectin in the third quarter of 2026
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 14, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.