Galectin Therapeutics (GALT) Q4 2025 earnings summary

Executive summary

• Advanced belapectin program for MASH cirrhosis and portal hypertension, with encouraging biomarker and clinical signals from the NAVIGATE dataset.

• Engaged with regulators and experts to determine the optimal path forward; upcoming FDA meeting scheduled for Q2 2026.

• Strengthened financial position with an additional $10 million line of credit, extending cash runway through April 2027.

• Appointed Dr. Henry Brem to the Board, enhancing clinical development expertise.

Financial highlights

• Research and development expenses decreased to $14.3 million in 2025 from $36.6 million in 2024, mainly due to the conclusion of the NAVIGATE trial.

• General and administrative expenses were $5.8 million in 2025, nearly flat year-over-year.

• Net loss applicable to common stockholders was $31.0 million ($0.48 per share) in 2025, improved from $47.2 million ($0.76 per share) in 2024.

• As of December 31, 2025, held $17.7 million in cash and cash equivalents, plus $10 million available under a line of credit.

Outlook and guidance

• Sufficient cash to fund planned operations and R&D activities through April 2027.

• Focused on advancing belapectin program, with upcoming FDA meeting and multiple presentations at EASL 2026.