Galectin Therapeutics (GALT) Registration filing summary

Company overview and business model

• Clinical-stage biopharmaceutical company focused on developing therapies for fibrotic disease, cancer, and other serious conditions by targeting galectin proteins, especially galectin-3.

• Lead candidate belapectin (GR-MD-02) is designed to treat advanced liver fibrosis and cirrhosis in NASH patients, with additional potential in other diseases.

• Completed multiple clinical trials, including a global Phase 2b/3 NAVIGATE trial for belapectin in NASH cirrhosis patients.

• Strategy includes rapid clinical development and seeking strategic partners for advanced programs.

Financial performance and metrics

• As of March 16, 2026, 65,827,448 shares of common stock were outstanding.

• Net tangible book value as of December 31, 2025, was approximately $(126) million, or $(1.94) per share.

• After the offering, net tangible book value would be $(95) million, or $(1.24) per share, with immediate dilution of $4.10 per share to new investors at an assumed price of $2.86 per share.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including working capital, R&D, clinical trial expenditures, acquisitions, investments, and potential repayment or redemption of preferred stock.

• Proceeds from the $32.5 million at-the-market offering will specifically support continued development of drug programs, including belapectin clinical trials.