This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Galectin Therapeutics Reports Full Year And Fourth Quarter 2011 Financial Results

Galectin Therapeutics Inc. (NASDAQ: GALT), the leading developer of therapeutics that target galectin proteins to treat fibrosis and cancer, today reported its financial results for the full year and fourth quarter, ended December 31, 2011. These results are included in the Company’s Annual Report on Form 10-K, which has been filed with the SEC.

On March 28, 2012, Galectin Therapeutics sold 2,666,722 shares of its common stock and related warrants to purchase 1,333,361 shares of common stock for gross proceeds of $12.0 million (net proceeds of approximately $10.5 million). Each warrant has an exercise price of $5.63 per share and is exercisable until March 28, 2017. On March 23, 2012, the Company effected a one-for-six reverse split of its common stock and began trading on The NASDAQ Capital Market under the symbol GALT.

“Galectin Therapeutics has made very significant progress in our development programs and in our operations over the past year,” said Peter G. Traber, M.D., Chief Executive Officer, President and Chief Medical Officer, Galectin Therapeutics. “Our GR-MD-02 compound has demonstrated the ability to arrest and reverse liver fibrosis in several preclinical disease models, including fatty liver disease (non-alcoholic steatohepatitis, or NASH). We are now conducting preclinical studies with the aim of entering clinical trials for NASH in 2012. This program has the unique potential to offer a new treatment for NASH or liver fibrosis, for which the only current treatment option is liver transplantation.”

Traber continued, “Galectin Therapeutics also recently raised significant capital and completed a listing on the NASDAQ Capital Market. The proceeds from this financing will support the continued advancement of our portfolio of galectin inhibitors while the broader listing will offer the Company and its shareholders greater stability and liquidity. We are now in a very solid position to execute on our strategic objectives and look forward to data from our programs in NASH as well as cancer immunotherapy in 2012.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.83 0.20%
FB $118.57 0.00%
GOOG $698.21 0.00%
TSLA $238.90 -1.20%
YHOO $36.53 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs