$GALT
GALECTIN THERAPEUTICS INC

2021 Q4 Form 10-K Financial Statement

#000114036122012058 Filed on March 31, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.569M $6.361M $1.460M
YoY Change 7.47% 16.29% 5.04%
% of Gross Profit
Research & Development $5.856M $23.82M $6.370M
YoY Change -8.07% 32.5% 67.63%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $7.425M $30.18M $7.830M
YoY Change -5.17% 28.73% 50.87%
Operating Profit -$30.18M
YoY Change 28.73%
Interest Expense $204.0K $489.0K -$20.00K
YoY Change -1120.0% 462.07% -140.0%
% of Operating Profit
Other Income/Expense, Net -$348.0K
YoY Change 1557.14%
Pretax Income -$7.221M -$30.53M -$7.850M
YoY Change -8.01% 30.07% 52.72%
Income Tax
% Of Pretax Income
Net Earnings -$7.221M -$30.53M -$7.850M
YoY Change -8.01% 30.1% 52.72%
Net Earnings / Revenue
Basic Earnings Per Share -$0.52
Diluted Earnings Per Share -$121.7K -$0.52 -$137.5K
COMMON SHARES
Basic Shares Outstanding 59.34M 58.53M
Diluted Shares Outstanding 58.53M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $39.65M $39.65M $27.14M
YoY Change 46.09% 46.09% -42.84%
Cash & Equivalents $39.65M $39.65M $27.14M
Short-Term Investments
Other Short-Term Assets $2.172M $2.172M $2.320M
YoY Change -6.38% -6.38% 217.81%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $41.82M $41.82M $29.47M
YoY Change 41.93% 41.91% -38.88%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $7.000K $0.00
YoY Change -86.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.000K $135.0K
YoY Change -94.81% -47.67%
Total Long-Term Assets $7.000K $7.000K $135.0K
YoY Change -94.81% -94.62% -47.67%
TOTAL ASSETS
Total Short-Term Assets $41.82M $41.82M $29.47M
Total Long-Term Assets $7.000K $7.000K $135.0K
Total Assets $41.83M $41.83M $29.60M
YoY Change 41.31% 41.31% -38.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.805M $1.805M $1.292M
YoY Change 39.71% 39.92% -22.22%
Accrued Expenses $7.163M $7.163M $4.042M
YoY Change 77.21% 77.3% 269.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.033M $9.033M $5.399M
YoY Change 67.31% 67.28% 91.45%
LONG-TERM LIABILITIES
Long-Term Debt $29.05M $29.05M $0.00
YoY Change
Other Long-Term Liabilities $0.00 $1.130M $8.000K
YoY Change -100.0% 11200.0% -84.62%
Total Long-Term Liabilities $0.00 $30.18M $8.000K
YoY Change -100.0% 301680.0% -84.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.033M $9.033M $5.399M
Total Long-Term Liabilities $0.00 $30.18M $8.000K
Total Liabilities $39.21M $39.21M $5.407M
YoY Change 625.19% 624.79% 88.27%
SHAREHOLDERS EQUITY
Retained Earnings -$270.7M -$240.0M
YoY Change 12.79% 10.91%
Common Stock $59.00K $56.00K
YoY Change 5.36% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $893.0K $2.616M $22.47M
YoY Change
Total Liabilities & Shareholders Equity $41.83M $41.83M $29.60M
YoY Change 41.31% 41.31% -38.93%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$7.221M -$30.53M -$7.850M
YoY Change -8.01% 30.1% 52.72%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$6.951M -$24.31M -$5.410M
YoY Change 28.48% 17.99% 43.88%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $6.814M
YoY Change 2490.87%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.999M 36.81M 0.000
YoY Change 13897.72% -100.0%
NET CHANGE
Cash From Operating Activities -6.951M -24.31M -5.410M
Cash From Investing Activities 0.000
Cash From Financing Activities 9.999M 36.81M 0.000
Net Change In Cash 3.048M 12.51M -5.410M
YoY Change -156.34% -161.49% 89.82%
FREE CASH FLOW
Cash From Operating Activities -$6.951M -$24.31M -$5.410M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2019Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
500000
CY2019Q2 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2500000
CY2021Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
0
CY2021Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
500000
CY2021 galt Issuance Of Warrants Value
IssuanceOfWarrantsValue
696000
CY2021 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
174000
CY2020 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
87000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21478755
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17036203
CY2021 galt Number Of Operating Leases
NumberOfOperatingLeases
1
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
8000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
8000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
0
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
8000
CY2021Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.1104
CY2021 galt Contract Cancelation Notice Period
ContractCancelationNoticePeriod
P30D
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
54949000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
46203000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
3720000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
910000
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1652000
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
5438000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
60321000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
52551000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
60321000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
52551000
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.047
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.047
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.005
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.008
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.022
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.253
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.271
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
72855000
CY2020Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
79191000
CY2021Q4 galt Deferred Tax Assets Valuation Allowance Percentage
DeferredTaxAssetsValuationAllowancePercentage
1

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