Galectin Therapeutics reports Q3 EPS (24c) vs. (14c) last year

Joel Lewis, Chief Executive Officer and President of Galectin Therapeutics, said: “Recently, two significant events occurred that we believe demonstrate confidence in our ongoing mission to bring to market a therapy for NASH cirrhosis patients where none currently exists. First, in late September 2023, our Board Chairman, Richard E. Uihlein, exercised 2,236,204 common stock purchase warrants for cash proceeds to the Company of $10 million. The price paid per share of $4.49 was significantly higher than the market price on the transaction date of $1.81. Additionally, as previously announced, Dr. Benjamin S. Carson, Sr. agreed to accept a nomination to join our Board of Directors. Dr. Carson has had an extraordinary career in medicine, business, and public service, and we are extremely pleased and gratified that he accepted the nomination. The support of Mr. Uihlein and Dr. Carson uniquely positions the Company to achieve our goals.”