Galectin Therapeutics Announces Conversion of $105.8 Million in Debt to Equity, Significantly Strengthening Balance Sheet
Summary
Galectin Therapeutics announced that its chairman converted $105.8 million of debt and accrued interest into common stock. The transaction eliminated all outstanding notes under five credit facilities and significantly strengthened the company’s balance sheet. Galectin said the move improves capitalization and supports its plans to advance belapectin and other clinical programs. The company also noted that one remaining $10 million facility is still available but remains undrawn. The release frames the conversion as a show of support from its largest stockholder and chairman.
Funding
Amount
$105.8M
Total raised
Date
July 31, 2026
Announcement date
Investors
-
Lead investors
Company
galectintherapeutics.com
Funded company
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