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Galectin closes rights offering, raises $44.5mm

Executive Summary

Galectin Therapeutics Inc. (chronic liver and skin diseases and cancer) raised $44.5mm through a rights offering which resulted in the issuance of 10.4mm common shares at $4.28 per share. Investors also received seven-year warrants to purchase 2.6mm shares at $7. A portion of the proceeds will support a Phase III trial with GRMD02 in nonalcoholic steatohepatitis patients without esophageal varices.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
    • Drug Delivery
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement
    • Other

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