Galectin Therapeutics Inc. (GALT) Balance Sheet
GALT balance sheet, 2025
December 31, 2025 · U.S. dollars$19.5M assets = $145.7M liabilities + −$126.2M equity
Liabilities exceed assets: shareholders’ equity is negative (−$126.2M).
Both columns are drawn to the same scale: what GALT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
GALT financial health
Descriptive bands, not a rating. Fiscal 2025.
GALT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $15.8M2016 | $19.5M2025 | +2.4%/yr | |
| Total liabilities | $3.8M2016 | $145.7M2025 | +50.0%/yr | |
| Shareholders’ equity | $12.0M2016 | −$126.2M2025 | — | |
| Cash & short-term investments | $15.4M2016 | $17.7M2025 | +1.6%/yr | |
| Total debt | $39,0002019 | $133.8M2025 | +288.3%/yr | |
| Net cash (debt) | $47.4M2019 | −$116.0M2025 | −$163.5M | |
| Working capital | $12.0M2016 | $11.4M2025 | −$608,000 | |
| Book value per share | $0.412016 | −$1.972025 | — | |
| Current ratio | 4.182016 | 2.422025 | −1.76 | |
| Debt / equity | 0.002019 | 11.112021 | +11.11 | |
| Shares outstanding | 29.2M2016 | 63.9M2025 | +9.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
GALT assets
GALT liabilities and equity
GALT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
GALT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $17.7M | $15.1M | $25.7M | $18.6M | $39.6M | $27.1M | $47.5M | $8.3M | $3.1M | $15.4M |
| Cash & equivalents | $17.7M | $15.1M | $25.7M | $18.6M | $39.6M | $27.1M | $47.5M | $8.3M | $3.1M | $15.4M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $1.7M | $2.1M | $2.0M | $2.0M | $2.2M | $2.3M | $729,000 | $579,000 | $766,000 | $432,000 |
| Total current assets | $19.4M | $17.3M | $27.7M | $20.6M | $41.8M | $29.5M | $48.2M | $8.8M | $3.8M | $15.8M |
| Property, plant & equipment (net) | $0 | $0 | $53,000 | $733,000 | $7,000 | $135,000 | $258,000 | $174,000 | $342,000 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2,000 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $96,000 | $243,000 | $437,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $19.5M | $17.5M | $28.2M | $21.3M | $41.8M | $29.6M | $48.5M | $9.0M | $4.2M | $15.8M |
| Liabilities | ||||||||||
| Accounts payable | $3.2M | $5.7M | $6.4M | $3.9M | $1.8M | $1.3M | $1.7M | $297,000 | $608,000 | $910,000 |
| Short-term debt | $22,000 | $21.1M | $46,000 | $40,000 | $8,000 | $44,000 | $39,000 | — | — | — |
| Deferred revenue | — | −$6.7M | $63,000 | — | — | — | — | — | — | — |
| Total current liabilities | $8.0M | $35.4M | $15.7M | $13.0M | $9.0M | $5.4M | $2.8M | $2.1M | $3.0M | $3.8M |
| Long-term debt | $133.7M | $85.1M | $71.7M | $39.8M | $29.0M | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $22,000 | $19,000 | $46,000 | $40,000 | $8,000 | $44,000 | $39,000 | — | — | — |
| Other long-term liabilities | $4.0M | $47,000 | $1.0M | $639,000 | $1.1M | $8,000 | $52,000 | $0 | $0 | $0 |
| Total liabilities | $145.7M | $120.6M | $88.4M | $53.5M | $39.2M | $5.4M | $2.9M | $2.1M | $3.0M | $3.8M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $65,000 | $62,000 | $61,000 | $59,000 | $59,000 | $56,000 | $56,000 | $41,000 | $36,000 | $33,000 |
| Retained earnings (deficit) | −$432.5M | −$401.6M | −$354.4M | −$309.6M | −$270.7M | −$240.0M | −$216.4M | −$196.2M | −$181.2M | −$163.7M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | $0 | — | $0 | $0 | −$74,000 | −$74,000 | −$74,000 | −$74,000 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | −$126.2M | −$103.1M | −$60.2M | −$32.2M | $2.6M | $24.2M | $45.6M | $6.9M | $1.2M | $12.0M |
| Key figures | ||||||||||
| Total debt | $133.8M | $106.2M | $71.8M | $39.9M | $29.1M | $44,000 | $39,000 | — | — | — |
| Net cash (debt) | −$116.0M | −$91.1M | −$46.1M | −$21.3M | $10.6M | $27.1M | $47.4M | — | — | — |
| Working capital | $11.4M | −$18.2M | $12.0M | $7.5M | $32.8M | $24.1M | $45.4M | $6.7M | $851,000 | $12.0M |
| Tangible book value | −$126.2M | −$103.1M | −$60.2M | −$32.2M | $2.6M | $24.2M | $45.6M | $6.9M | $1.2M | $12.0M |
| Book value per share | −$1.97 | −$1.65 | −$1.00 | −$0.54 | $0.04 | $0.42 | $0.87 | $0.18 | $0.03 | $0.41 |
| Shares outstanding | 63.9M | 62.3M | 60.2M | 59.4M | 58.5M | 57.0M | 52.2M | 39.4M | 35.5M | 29.2M |
| Current ratio | 2.42 | 0.49 | 1.77 | 1.58 | 4.63 | 5.46 | 17.10 | 4.19 | 1.29 | 4.18 |
| Quick ratio | 2.21 | 0.43 | 1.64 | 1.43 | 4.39 | 5.03 | 16.84 | 3.92 | 1.03 | 4.06 |
| Debt / equity | — | — | — | — | 11.11 | 0.00 | 0.00 | — | — | — |
| Equity / assets | −646.1% | −589.1% | −213.6% | −151.3% | 6.3% | 81.7% | 94.1% | 76.6% | 28.7% | 76.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $13.3M | $14.1M | $17.7M | $11.5M | $13.8M | $7.4M | $15.1M | $27.1M | $25.6M | $23.6M | $25.7M | $20.4M |
| Cash & equivalents | $13.3M | $14.1M | $17.7M | $11.5M | $13.8M | $7.4M | $15.1M | $27.1M | $25.6M | $23.6M | $25.7M | $20.4M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $1.4M | $1.6M | $1.7M | $1.2M | $1.7M | $1.9M | $2.1M | $1.6M | $1.7M | $1.9M | $2.0M | $1.2M |
| Total current assets | $14.7M | $15.7M | $19.4M | $12.7M | $15.4M | $9.3M | $17.3M | $28.7M | $27.3M | $25.5M | $27.7M | $21.6M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $35,000 | $45,000 | $53,000 | $62,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $167,000 | $68,000 | $96,000 | $136,000 | $175,000 | $243,000 | $243,000 | $306,000 | $333,000 | $385,000 | $437,000 | $490,000 |
| Total assets | $14.8M | $15.8M | $19.5M | $12.9M | $15.6M | $9.5M | $17.5M | $29.0M | $27.7M | $25.9M | $28.2M | $22.2M |
| Liabilities | ||||||||||||
| Accounts payable | $3.7M | $3.1M | $3.2M | $5.4M | $5.9M | $6.5M | $5.7M | $2.8M | $3.7M | $3.8M | $6.4M | $2.7M |
| Short-term debt | $137.8M | $6,000 | $22,000 | $122.3M | $52,000 | $97.2M | $21.1M | $10.6M | $44,000 | $48,000 | $46,000 | $45,000 |
| Deferred revenue | $3,000 | — | — | — | — | — | — | — | $63,000 | — | $63,000 | −$45,000 |
| Total current liabilities | $151.6M | $7.3M | $8.0M | $136.4M | $10.8M | $110.8M | $35.4M | $25.3M | $14.6M | $12.6M | $15.7M | $10.5M |
| Long-term debt | $0 | $135.7M | $133.7M | $0 | $120.5M | $10.8M | $85.1M | $94.0M | $93.4M | $82.5M | $71.7M | $61.1M |
| Lease obligations | $59,000 | $6,000 | $22,000 | $37,000 | $52,000 | $68,000 | $19,000 | $32,000 | $44,000 | $55,000 | $46,000 | $77,000 |
| Other long-term liabilities | $59,000 | $3.0M | $4.0M | $1.7M | $1.5M | $136,000 | $47,000 | $2.2M | $1.8M | $1.9M | $1.0M | $1.4M |
| Total liabilities | $151.7M | $146.0M | $145.7M | $138.2M | $132.8M | $121.8M | $120.6M | $121.5M | $109.8M | $97.0M | $88.4M | $73.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $66,000 | $65,000 | $65,000 | $64,000 | $63,000 | $63,000 | $62,000 | $62,000 | $62,000 | $61,000 | $61,000 | $61,000 |
| Retained earnings (deficit) | −$446.8M | −$437.6M | −$432.5M | −$427.0M | −$418.8M | −$411.2M | −$401.6M | −$389.5M | −$378.3M | −$365.9M | −$354.4M | −$344.3M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | −$1.7M | −$60,999 | −$1.7M |
| Total shareholders' equity | −$136.9M | −$130.2M | −$126.2M | −$125.3M | −$117.2M | −$112.3M | −$103.1M | −$92.5M | −$82.1M | −$71.1M | −$60.2M | −$50.9M |
| Key figures | ||||||||||||
| Total debt | $137.7M | $135.7M | $133.8M | $122.3M | $120.5M | $108.0M | $106.2M | $104.6M | $93.5M | $82.5M | $71.8M | $61.2M |
| Net cash (debt) | −$124.4M | −$121.6M | −$116.0M | −$110.8M | −$106.7M | −$100.6M | −$91.1M | −$77.5M | −$67.9M | −$59.0M | −$46.1M | −$40.9M |
| Working capital | −$137.0M | $8.4M | $11.4M | −$123.7M | $4.7M | −$101.6M | −$18.2M | $3.4M | $12.7M | $12.8M | $12.0M | $11.1M |
| Tangible book value | −$136.9M | −$130.2M | −$126.2M | −$125.3M | −$117.2M | −$112.3M | −$103.1M | −$92.5M | −$82.1M | −$71.1M | −$60.2M | −$50.9M |
| Book value per share | −$2.08 | −$1.98 | −$1.97 | −$1.95 | −$1.85 | −$1.78 | −$1.64 | −$1.48 | −$1.32 | −$1.15 | −$1.00 | −$0.85 |
| Shares outstanding | 65.9M | 65.8M | 63.9M | 64.2M | 63.4M | 63.2M | 62.7M | 62.3M | 62.2M | 62.0M | 60.2M | 59.7M |
| Current ratio | 0.10 | 2.15 | 2.42 | 0.09 | 1.43 | 0.08 | 0.49 | 1.13 | 1.87 | 2.02 | 1.77 | 2.05 |
| Quick ratio | 0.09 | 1.93 | 2.21 | 0.08 | 1.28 | 0.07 | 0.43 | 1.07 | 1.75 | 1.86 | 1.64 | 1.94 |
| Equity / assets | −923.1% | −826.4% | −646.1% | −974.0% | −751.0% | −1,178.2% | −589.1% | −319.2% | −297.0% | −274.6% | −213.6% | −229.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
GALT financial position
At the end of fiscal 2025 (December 31, 2025), Galectin Therapeutics had total assets of $19.5 million (up 11.6% from a year earlier), total liabilities of $145.7 million and shareholders' equity of -$126.2 million. It held $17.7 million in cash and short-term investments against $133.8 million of debt, net debt of $116.0 million. Its current ratio was 2.42. In the latest quarter (ended June 30, 2026) total assets were $14.8 million and equity -$136.9 million.
Related: GALT income statement, GALT cash flow statement, GALT key metrics. See the GALT stock overview for the latest quote and news.
GALT balance sheet FAQ
What are Galectin Therapeutics's total assets?
Galectin Therapeutics reported total assets of $19.5 million at the end of fiscal 2025 (December 31, 2025), compared with $17.5 million a year earlier.
How much debt does Galectin Therapeutics have?
Galectin Therapeutics had $133.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Galectin Therapeutics have?
Galectin Therapeutics held $17.7 million in cash and short-term investments at the end of fiscal 2025; with $133.8 million of debt that is net debt of $116.0 million.
What is Galectin Therapeutics's book value?
Galectin Therapeutics's shareholders' equity (book value) was -$126.2 million at the end of fiscal 2025, or −$1.97 per share.
What is Galectin Therapeutics's current ratio?
Galectin Therapeutics had current assets of $19.4 million and current liabilities of $8.0 million, a current ratio of 2.42 (it can cover its short-term obligations).