Galectin Therapeutics Inc. (GALT)

[biotech2010]

GALT burn rate was down in latest quarter, now project enough cash until June 30, 2017.

All prior reports had identified cash running out on March 31, 2017.

No new shares issued in quarter as well.

The last cash infusion included approximately 3.5M warrants with an exercise price of $2.50, once the share price gets above that level it's very likely that Sabby Management will begin to exercise those warrants and sell them on the open market-while that would slow down the rate at which the price is increasing it would also raise enough money for the rest of 2017 and through the top line reporting date for the CX trial.

I consider this, along with the recent press releases and share price increase (it is now above the share price for the last offering) very positive developments.