Galectin Therapeutics Inc. Reports Net Loss of $20.6 Million for the First Half of 2023

Galectin Therapeutics Inc.(GALT), a biotechnology company specia lizing in the development of therapies for fibrotic diseases, has released its unaudited condensed consolidated financial statements for the second quarter and first half of 2023. The financial data reveals a net loss of $20.6 million for the first six months of the year, coupled with a revenue of $0.1 million for the second quarter. The company's financial position, liabilities, and equity are outlined in the following sections.

Net Loss of $20.6 Million in First Half of 2023

Galectin Therapeutics Inc. faced a net loss of $20.6 million for the first half of 2023, reflecting the company's operating expenses and other financial obligations. The net loss for the comparable period in 2022 was $19.5 million. Operating expenses, including research and development as well as general and administrative costs, contributed to the company's financial performance.

Revenue Stands at $0.1 Million for Q2 2023