Galectin Therapeutics (GALT) 10-Q 14 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 08, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Trading Symbol	GALT
Entity Registrant Name	GALECTIN THERAPEUTICS INC
Entity Central Index Key	1,133,416
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		40,913,855

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 10,497	$ 3,053
Prepaid expenses and other current assets	541	766
Total current assets	11,038	3,819
Other	172	342
Total assets	11,210	4,161
Current liabilities:
Accounts payable	220	608
Accrued expenses	1,148	2,292
Accrued dividends payable	67	68
Total current liabilities	1,435	2,968
Total liabilities	1,435	2,968
Commitments and contingencies (Note 9)
Stockholders' equity (deficit):
Undesignated stock, $0.01 par value; 20,000,000 shares authorized, 20,000,000 designated at June 30, 2018 and December 31, 2017, respectively	0	0
Common stock, $0.001 par value; 100,000,000 and 50,000,000 shares authorized at June 30, 2018 and December 31, 2017, respectively, 40,628,183 and 35,789,388 issued and outstanding at June 30, 2018 and December 31, 2017, respectively	41	36
Additional paid-in capital	190,602	173,363
Retained deficit	(189,820)	(181,168)
Total stockholders' equity (deficit)	8,052	(530)
Total liabilities, redeemable convertible preferred stock and stockholders' equity(deficit)	11,210	4,161
Series C super dividend convertible preferred stock
Current liabilities:
Convertible preferred stock, value	1,723	1,723
Series A 12% convertible preferred stock
Stockholders' equity (deficit):
Convertible preferred stock, value	547	557
Series B-1 12% convertible preferred stock
Stockholders' equity (deficit):
Convertible preferred stock, value	1,761	1,761
Series B-2 12% convertible preferred stock
Stockholders' equity (deficit):
Convertible preferred stock, value	3,697	3,697
Series B-3 8% convertible preferred stock
Stockholders' equity (deficit):
Convertible preferred stock, value	$ 1,224	$ 1,224

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Undesignated stock, par value	$ 0.01	$ 0.01
Undesignated stock, shares authorized	20,000,000	20,000,000
Undesignated stock, shares designated	20,000,000	20,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	50,000,000
Common stock, issued	40,628,183	35,789,388
Common stock, outstanding	40,628,183	35,789,388
Series C super dividend convertible preferred stock
Convertible preferred stock, shares authorized	1,000	1,000
Convertible preferred stock, shares issued	176	176
Convertible preferred stock, shares outstanding	176	176
Convertible preferred stock, redemption value	$ 7,983,000
Convertible preferred stock, liquidation value	$ 1,760,000
Series A 12% convertible preferred stock
Convertible preferred stock, shares authorized	1,742,500	1,742,500
Convertible preferred stock, issued	1,352,500	1,377,500
Convertible preferred stock, outstanding	1,352,500	1,377,500
Convertible preferred stock, liquidation value	$ 1,352,500
Series B-1 12% convertible preferred stock
Convertible preferred stock, shares authorized	900,000	900,000
Convertible preferred stock, issued	900,000	900,000
Convertible preferred stock, outstanding	900,000	900,000
Convertible preferred stock, liquidation value	$ 1,800,000
Series B-2 12% convertible preferred stock
Convertible preferred stock, shares authorized	2,100,000	2,100,000
Convertible preferred stock, issued	2,100,000	2,100,000
Convertible preferred stock, outstanding	2,100,000	2,100,000
Convertible preferred stock, liquidation value	$ 4,200,000
Series B-3 8% convertible preferred stock
Convertible preferred stock, shares authorized	2,508,000	2,508,000
Convertible preferred stock, issued	2,508,000	2,508,000
Convertible preferred stock, outstanding	2,508,000	2,508,000
Convertible preferred stock, liquidation value	$ 2,508,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Operating expenses:
Research and development	$ 1,476	$ 3,444	$ 3,774	$ 7,216
General and administrative	2,283	1,070	4,163	2,244
Total operating expenses	3,759	4,514	7,937	9,460
Total operating loss	(3,759)	(4,514)	(7,937)	(9,460)
Other income (expense):
Interest income	4	6	8	15
Interest expense	(85)		(169)
Total other income (expense)	(81)	6	(161)	15
Net loss	(3,840)	(4,508)	(8,098)	(9,445)
Preferred stock dividends	(268)	(301)	(553)	(573)
Net loss applicable to common stockholders	$ (4,108)	$ (4,809)	$ (8,651)	$ (10,018)
Net loss per common share - basic and diluted	$ (0.11)	$ (0.14)	$ (0.23)	$ (0.29)
Weighted average common shares outstanding - basic and diluted	38,227	34,692	37,755	34,312

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (8,098)	$ (9,445)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		1
Stock-based compensation expense	2,630	599
Issuance of common stock for services	10	18
Non-cash interest expense	169
Changes in operating assets and liabilities:
Prepaid expenses and other assets	226	230
Accounts payable and accrued expenses	(1,532)	(268)
Net cash used in operating activities	(6,595)	(8,865)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of common stock and warrants	14,039	2,630
Net cash provided by financing activities	14,039	2,630
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	7,444	(6,235)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	3,053	15,362
CASH AND CASH EQUIVALENTS, END OF PERIOD	10,497	9,127
NONCASH FINANCING ACTIVITIES:
Payment of preferred stock dividends in common stock	$ 553	$ 573

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Basis of Presentation	1. Basis of Presentation Galectin Therapeutics Inc. (the “Company”) is a clinical stage biopharmaceutical company that is applying its leadership in galectin science and drug development to create new therapies for fibrotic disease, skin diseases and cancer. These candidates are based on the Company’s targeting of galectin proteins which are key mediators of biologic and pathologic functions. These compounds also may have application for drugs to treat other diseases and chronic health conditions. The unaudited condensed consolidated financial statements as reported in this Quarterly Report on Form 10-Q 10-K The Company has operated at a loss since its inception and has had no significant revenues. The Company anticipates that losses will continue for the foreseeable future. At June 30, 2018, the Company had $10.5 million of unrestricted cash and cash equivalents available to fund future operations. The Company believes there is sufficient cash, including availability of the line of credit (discussed in Note 3 below), to fund currently planned operations at least through June 30, 2019. The Company’s ability to fund operations after its current cash resources are exhausted depends on its ability to obtain additional financing or achieve profitable operations, as to which no assurances can be given. Accordingly, based on the forecasts and estimates underlying the Company’s current operating plan, the financial statements do not currently include any adjustments that might be necessary if the Company is unable to continue as a going concern. The Company was founded in July 2000, was incorporated in the State of Nevada in January 2001 under the name “Pro-Pharmaceuticals,

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2018
Accrued Expenses	2. Accrued Expenses Accrued expenses consist of the following: June 30, December 31, (in thousands) Legal and accounting fees $ 77 $ 74 Accrued compensation 692 790 Accrued research and development costs and other 379 1,428 Total $ 1,148 $ 2,292

Line of Credit

Line of Credit	6 Months Ended
	Jun. 30, 2018
Line of Credit	3. Line of Credit On December 19, 2017, the Company entered into a $10 million Line of Credit arrangement with Richard E. Uihlein, a director and shareholder who has an approximate 7% ownership interest in the Company on a fully-diluted basis at December 31, 2017. Borrowings may be made by the Company through December 31, 2018. Borrowings bear interest at the Applicable Federal Rate for short term loans published by the Internal Revenue Service (1.51% on December 19, 2017). All borrowings and interest are due on December 31, 2019 but may be prepaid without penalty. In connection with the Line of Credit agreement, the Company issued to Mr. Uihlein warrants to purchase 1 million shares of the Company’s common stock for $5 per share. Half of the warrants vested at closing of the Line of Credit and the other half vest ratably with borrowings under the agreement. There have been no borrowings under the Line of Credit through June 30, 2018. The fair value of the 500,000 warrants vested at closing was $696,000 at the date of issuance based on the following assumptions: an expected life of 7 years, volatility of 98%, risk free interest rate of 2.05% and zero dividends. The fair value of the vested warrants was recorded in other current assets and other assets (non-current)

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2018
Stock-Based Compensation	. Stock-Based Compensation Following is the stock-based compensation expense related to common stock options, common stock, restricted common stock and common stock warrants: Three Months Ended Six Months Ended 2018 2017 2018 2017 Research and development $ 627 $ 132 $ 1,161 $ 301 General and administrative 816 137 1,469 298 Total stock-based compensation expense $ 1,443 $ 269 $ 2,630 $ 599 The following table summarizes the stock option activity in the Company’s equity incentive plans, including non-plan Shares Weighted Average Outstanding, December 31, 2017 5,155,263 $ 4.11 Granted 1,001,875 5.02 Exercised (1,829,525 ) 1.79 Options forfeited/cancelled (33,334 ) 6.24 Outstanding, June 30, 2018 4,294,279 $ 5.30 As of June 30, 2018, there was $1,819,000 of unrecognized compensation related to 1,140,318 unvested options, which is expected to be recognized over a weighted–average period of approximately 0.5 years. The weighted-average grant date fair value for options granted during the three months ended June 30, 2018 was $3.98. The Company granted 460,000 stock options In January 2018, of which 115,000 options vested upon grant with the remaining 345,000 options vesting over the remainder of 2018. Approximately $526,000 of non-cash, non-cash, The fair value of all other options granted is determined using the Black-Scholes option-pricing model. The following weighted average assumptions were used: Six Six Risk-free interest rate 2.47 % — Expected life of the options 5.7 years — Expected volatility of the underlying stock 104 % — Expected dividend rate 0 % —

Common Stock Warrants

Common Stock Warrants	6 Months Ended
	Jun. 30, 2018
Common Stock Warrants	5. Common Stock Warrants The following table summarizes the common stock warrant activity from December 31, 2017 through June 30, 2018: Shares Weighted Average Outstanding, December 31, 2017 13,229,778 $ 3.35 Granted 267 5.15 Exercised (2,414,709 ) 2.50 Forfeited/cancelled — — Outstanding, June 30, 2018 10,815,336 $ 3.53

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2018
Fair Value of Financial Instruments	6. Fair Value of Financial Instruments At times, the Company has certain financial assets and liabilities recorded at fair value. Fair values determined by Level 1 inputs utilize observable data such as quoted prices in active markets. Fair values determined by Level 2 inputs utilize data points other than quoted prices in active markets that are observable either directly or indirectly. Fair values determined by Level 3 inputs utilize unobservable data points in which there is little or no market data, which require the reporting entity to develop its own assumptions. The carrying amounts reflected in the consolidated balance sheets for cash equivalents, accounts payable and accrued expenses approximate their carrying value due to their short-term nature. There were no level 2 or level 3 assets or liabilities at June 30, 2018 or December 31, 2017.

Loss Per Share

Loss Per Share	6 Months Ended
	Jun. 30, 2018
Loss Per Share	7. Loss Per Share Basic net loss per common share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss available to common stockholders by the weighted average number of common shares and other potential common shares then outstanding. Potential common shares consist of common shares issuable upon the assumed exercise of in-the-money Dilutive shares which could exist pursuant to the exercise of outstanding stock instruments and which were not included in the calculation because their affect would have been anti-dilutive are as follows: June 30, 2018 June 30, 2017 Warrants to purchase shares of common stock 10,815,336 12,249,189 Options to purchase shares of common stock 4,294,279 4,656,888 Shares of common stock issuable upon conversion of preferred stock 4,308,115 4,312,282 19,417,730 21,218,359

Common Stock

Common Stock	6 Months Ended
	Jun. 30, 2018
Common Stock	8. Common Stock 2014 At Market Issuance of Common Stock On March 30, 2014, the Company entered into an At Market Issuance Sales Agreement (the “2014 At Market Agreement”) with a sales agent under which the Company may issue and sell shares of its common stock having an aggregate offering price of up to $30.0 million from time to time through the sales agent. Sales of the Company’s common stock through the sales agent, if any, will be made by any method that is deemed an “at the market” offering as defined by the U.S. Securities and Exchange Commission. The Company will pay to the sales agent a commission rate equal to 3.0% of the gross proceeds from the sale of any shares of common stock sold through the sales agent under the 2014 At Market Agreement. During the three months ended March 31, 2017, the Company issued 1,496,797 shares of common stock for net proceeds of approximately $1,945,000 under the 2014 At Market Agreement. The 2014 At Market Agreement expired in March 2017. 2017 At Market Issuance of Common Stock On May 19, 2017, the Company entered into an At Market Issuance Sales Agreement (the “2017 At Market Agreement”) with a sales agent under which the Company may issue and sell shares of its common stock having an aggregate offering price of up to $30.0 million from time to time through the sales agent. Sales of the Company’s common stock through the sales agent, if any, will be made by any method that is deemed an “at the market” offering as defined by the U.S. Securities and Exchange Commission. The Company will pay to the sales agent a commission rate equal to 3.0% of the gross proceeds from the sale of any shares of common stock sold through the sales agent under the 2017 At Market Agreement. During June 2018, the Company issued 618,614 shares of common stock for net proceeds of approximately $5,241,000 under the 2017 At Market Agreement. 2017 Private Placement On February 28, 2017, the Company closed a transaction with five individual investors through a private placement of common stock and warrants. In total, the Company issued 102,368 shares of common stock for proceeds of $200,000. The Company also issued, to the five investors, warrants to purchase 76,776 shares of common stock at $5.00 per share. The warrants have an expiration date of February 28, 2024. The exercise price of each warrant is adjustable in the event of a stock split or stock combination, capital reorganization, merger or similar event. The warrants were valued at approximately $101,000 as of the date of issuance, using the closing price of $1.86, a life of 7 years, a volatility of 97% and a risk-free interest rate of 1.92%. Based upon the Company’s analysis of the criteria contained in ASC Topic 815-40, paid-in Other In 2018, the Company entered an agreement with a vendor whereby the Company will issue common stock to vendor in lieu of paying in cash in amount up to $100,000 for the year. For the six months ended June 30, 2018, the Company has issued 2,655 shares of common stock and 267 warrants to purchase shares of common stock pursuant to this agreement and the value of such shares has been recorded as research and development expense. For the six months ended June 30, 2018, the Company has issued a total of 106,082 shares of common stock for dividends on Series A, Series B and Series C Preferred Stock.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies	9. Commitments and Contingencies The Company records accruals for such contingencies to the extent that the Company concludes that their occurrence is probable, and the related damages are estimable. There are no other significant pending legal proceedings.

Galectin Sciences LLC

Galectin Sciences LLC	6 Months Ended
	Jun. 30, 2018
Galectin Sciences LLC	10. Galectin Sciences LLC In January 2014, we created Galectin Sciences, LLC (the “LLC” or “Investee”), a collaborative joint venture co-owned galectin-3 in-process non-controlling

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2018
Accrued Expenses	Accrued expenses consist of the following: June 30, December 31, (in thousands) Legal and accounting fees $ 77 $ 74 Accrued compensation 692 790 Accrued research and development costs and other 379 1,428 Total $ 1,148 $ 2,292

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2018
Stock-Based Compensation Expense Related to Common Stock Options, Restricted Common Stock and Common Stock Warrants	Following is the stock-based compensation expense related to common stock options, common stock, restricted common stock and common stock warrants: Three Months Ended Six Months Ended 2018 2017 2018 2017 Research and development $ 627 $ 132 $ 1,161 $ 301 General and administrative 816 137 1,469 298 Total stock-based compensation expense $ 1,443 $ 269 $ 2,630 $ 599
Summary of Stock Option Activity	The following table summarizes the stock option activity in the Company’s equity incentive plans, including non-plan Shares Weighted Average Outstanding, December 31, 2017 5,155,263 $ 4.11 Granted 1,001,875 5.02 Exercised (1,829,525 ) 1.79 Options forfeited/cancelled (33,334 ) 6.24 Outstanding, June 30, 2018 4,294,279 $ 5.30
Weighted Average Assumptions Used to Determine Fair Value of Options Granted	The fair value of all other options granted is determined using the Black-Scholes option-pricing model. The following weighted average assumptions were used: Six Six Risk-free interest rate 2.47 % — Expected life of the options 5.7 years — Expected volatility of the underlying stock 104 % — Expected dividend rate 0 % —

Common Stock Warrants (Tables)

Common Stock Warrants (Tables)	6 Months Ended
	Jun. 30, 2018
Common Stock Warrant Activity	The following table summarizes the common stock warrant activity from December 31, 2017 through June 30, 2018: Shares Weighted Average Outstanding, December 31, 2017 13,229,778 $ 3.35 Granted 267 5.15 Exercised (2,414,709 ) 2.50 Forfeited/cancelled — — Outstanding, June 30, 2018 10,815,336 $ 3.53

Loss Per Share (Tables)

Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2018
Dilutive Shares Which Could Exist Pursuant to Exercise of Outstanding Stock Instruments and Which were not Included in Calculation	Dilutive shares which could exist pursuant to the exercise of outstanding stock instruments and which were not included in the calculation because their affect would have been anti-dilutive are as follows: June 30, 2018 June 30, 2017 Warrants to purchase shares of common stock 10,815,336 12,249,189 Options to purchase shares of common stock 4,294,279 4,656,888 Shares of common stock issuable upon conversion of preferred stock 4,308,115 4,312,282 19,417,730 21,218,359

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Basis of Presentation [Line Items]
Unrestricted cash and cash equivalents	$ 10,497	$ 3,053	$ 9,127	$ 15,362

Accrued Expenses (Detail)

Accrued Expenses (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Schedule of Accrued Liabilities [Line Items]
Legal and accounting fees	$ 77	$ 74
Accrued compensation	692	790
Accrued research and development costs and other	379	1,428
Total	$ 1,148	$ 2,292

Line of Credit - Additional Inf

Line of Credit - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2017	Dec. 19, 2017
Line of Credit Facility [Line Items]
Number of securities called by warrant	500,000	500,000
Warrant value		$ 696,000
Expected life		5 years 8 months 12 days
Expected Volatility		104.00%
Expected dividend		0.00%
Risk free interest rate		2.47%
Amortization of interest expense	$ 85,000	$ 169,000
Director
Line of Credit Facility [Line Items]
Minority interest			7.00%
Unsecured Line Of Credit | Director
Line of Credit Facility [Line Items]
Line of credit facility				$ 10,000,000
Short term borrowing interest rate				1.51%
Number of securities called by warrant	1,000,000	1,000,000
Exercise price of warrant	$ 5	$ 5
Line of credit current	$ 0	$ 0
Warrant
Line of Credit Facility [Line Items]
Expected life		7 years
Expected Volatility		98.00%
Expected dividend		0.00%
Risk free interest rate		2.05%

Stock-Based Compensation Expens

Stock-Based Compensation Expense Related to Common Stock Options, Restricted Common Stock and Common Stock Warrants (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 1,443	$ 269	$ 2,630	$ 599
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	627	132	1,161	301
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 816	$ 137	$ 1,469	$ 298

Summary of Stock Option Activit

Summary of Stock Option Activity (Detail) - $ / shares	1 Months Ended		6 Months Ended
	May 31, 2018	Jan. 31, 2018	Jun. 30, 2018
Shares
Beginning Balance		5,155,263	5,155,263
Granted	506,875	460,000	1,001,875
Exercised			(1,829,525)
Options forfeited/cancelled			(33,334)
Ending Balance			4,294,279
Weighted Average Exercise Price
Beginning Balance		$ 4.11	$ 4.11
Granted			5.02
Exercised			1.79
Options forfeited/cancelled			6.24
Ending Balance			$ 5.30

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended			6 Months Ended
	May 31, 2018	Jan. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 1,819,000			$ 1,819,000
Unvested option			1,140,318			1,140,318
Unrecognized compensation cost, recognition period						6 months
Weighted-average grant-date fair values of options granted			$ 3.98
Number of options granted	506,875	460,000				1,001,875
Number of options vested	115,000	115,000
Stock-based compensation expense			$ 1,443,000		$ 269,000	$ 2,630,000	$ 599,000
Remainder Of 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options vested	391,875	345,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 433,000	$ 526,000

Weighted Average Assumptions Us

Weighted Average Assumptions Used to Determine Fair Value of Options Granted (Detail)	6 Months Ended
	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.47%
Expected life of the options	5 years 8 months 12 days
Expected volatility of the underlying stock	104.00%
Expected dividend rate	0.00%

Common Stock Warrant Activity (

Common Stock Warrant Activity (Detail) - Warrant	6 Months Ended
	Jun. 30, 2018$ / sharesshares
Shares
Outstanding, December 31, 2017 | shares	13,229,778
Granted | shares	267
Exercised | shares	(2,414,709)
Forfeited/cancelled | shares	0
Outstanding, June 30, 2018 | shares	10,815,336
Weighted Average Exercise Price
Outstanding, December 31, 2017 | $ / shares	$ 3.35
Granted | $ / shares	5.15
Exercised | $ / shares	2.50
Forfeited/cancelled | $ / shares	0
Outstanding, June 30, 2018 | $ / shares	$ 3.53

Dilutive Shares Which Could Exi

Dilutive Shares Which Could Exist Pursuant to Exercise of Outstanding Stock Instruments and Which were not Included in Calculation (Detail) - shares	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	19,417,730	21,218,359
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	10,815,336	12,249,189
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	4,294,279	4,656,888
Contingently Issuable Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	4,308,115	4,312,282

Common Stock - Additional Infor

Common Stock - Additional Information (Detail) - USD ($)	Feb. 28, 2017	Jun. 30, 2018	Mar. 31, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	May 19, 2017	Mar. 30, 2014
Class of Stock [Line Items]
Net proceeds from issuance of common stock				$ 14,039,000	$ 2,630,000
Common stock, value, issued		$ 41,000		$ 41,000		$ 36,000
Common stock, shares, issued		40,628,183		40,628,183		35,789,388
Private Placement 2017
Class of Stock [Line Items]
Shares of common stock issued	102,368
Proceeds from sale of common stock	$ 200,000
Warrants issued	76,776
Issuance of warrants, price per share	$ 5
Issuance of warrants, value	$ 101,000
Issuance of warrants, closing price	$ 1.86
Warrants expiration date				Feb. 28, 2024
Private Placement 2017 | Measurement Input, Expected Term
Class of Stock [Line Items]
Warrants and rights outstanding, term	7 years
Private Placement 2017 | Measurement Input, Price Volatility
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input percentage	97.00%
Private Placement 2017 | Measurement Input, Risk Free Interest Rate
Class of Stock [Line Items]
Warrants and rights outstanding, measurement input percentage	1.92%
2014 At Market Agreement
Class of Stock [Line Items]
Aggregate offering price								$ 30,000,000
Commission to sales agent as a percentage of gross proceeds								3.00%
Shares of common stock issued			1,496,797
Net proceeds from issuance of common stock			$ 1,945,000
2017 At Market Agreement
Class of Stock [Line Items]
Aggregate offering price							$ 30,000,000
Commission to sales agent as a percentage of gross proceeds							3.00%
Shares of common stock issued		618,614
Net proceeds from issuance of common stock		$ 5,241,000
Other Agreements
Class of Stock [Line Items]
Warrants issued				267
Other Agreements | Series A, B and C Preferred Stock
Class of Stock [Line Items]
Common stock issued for dividend				106,082
Other Agreements | Vendor
Class of Stock [Line Items]
Common stock, shares, issued		2,655		2,655
Other Agreements | Maximum | Vendor
Class of Stock [Line Items]
Common stock, value, issued		$ 100,000		$ 100,000

Galectin Science LLC - Addition

Galectin Science LLC - Additional Information (Detail) - Galectin Sciences, LLC - USD ($)	1 Months Ended	3 Months Ended	42 Months Ended
	Jan. 31, 2014	Jun. 30, 2018	Jun. 30, 2018
Investments in and Advances to Affiliates [Line Items]
Equity method investment in Galectin Sciences LLC	$ 400,000
Subsequent capital contribution		$ 60,000	$ 1,723,000
Equity Method Investment, Ownership Percentage	50.00%	80.20%	80.20%
SBH Sciences, Inc
Investments in and Advances to Affiliates [Line Items]
Subsequent capital contribution			$ 123,000
Ownership Percentage		80.20%
SBH Sciences, Inc | In Process Research and Development
Investments in and Advances to Affiliates [Line Items]
Estimated fair value of the IPR&D Contributed by SBH	$ 400,000