Galectin Therapeutics (GALT) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2020	May 05, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Registrant Name	GALECTIN THERAPEUTICS INC
Entity Central Index Key	0001133416
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Trading Symbol	GALT
Entity Common Stock, Shares Outstanding		57,029,209
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Address, State or Province	GA
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 43,328	$ 47,480
Prepaid expenses and other current assets	556	729
Total current assets	43,884	48,209
Other assets	227	258
Total assets	44,111	48,467
Current liabilities:
Accounts payable	660	1,661
Accrued expenses and other	656	1,093
Accrued dividends payable		66
Total current liabilities	1,316	2,820
Other liabilities	42	52
Total liabilities	1,358	2,872
Commitments and contingencies (Note 10)
Stockholders' equity:
Undesignated stock, $0.01 par value; 20,000,000 shares authorized, 20,000,000 designated at March 31, 2020 and December 31, 2019, respectively
Common stock, $0.001 par value; 100,000,000 shares authorized at March 31, 2020 and December 31, 2019, 57,029,209 and 56,894,642 issued and outstanding at March 31, 2020 and December 31, 2019, respectively	56	56
Additional paid-in capital	260,382	259,673
Retained deficit	(219,945)	(216,394)
Total stockholders' equity	41,030	43,872
Total liabilities, redeemable convertible preferred stock and stockholders' equity	44,111	48,467
Series C 6% super dividend redeemable convertible preferred stock
Current liabilities:
Convertible preferred stock, value	1,723	1,723
Series A 12% convertible preferred stock
Stockholders' equity:
Convertible preferred stock, value	$ 537	$ 537

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
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	100,000,000
Common stock, issued	57,029,209	57,029,209
Common stock, outstanding	56,894,642	56,894,642
Series C super dividend redeemable 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	$ 8,573,000
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	1,327,500	1,327,500
Convertible preferred stock, outstanding	1,327,500	1,327,500
Convertible preferred stock, liquidation value	$ 1,327,500

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating expenses:
Research and development	$ 2,144,000	$ 646,000
General and administrative	1,440,000	1,721,000
Total operating expenses	3,584,000	2,367,000
Total operating loss	(3,584,000)	(2,367,000)
Other income (expense):
Interest income	50,000	14,000
Interest expense	(22,000)	(22,000)
Total other income (expense)	28,000	(8,000)
Net loss	(3,556,000)	(2,375,000)
Preferred stock dividends	6,000	(96,000)
Warrant modification (Note 9)		(6,622,000)
Net loss applicable to common stockholders	$ (3,550,000)	$ (9,093,000)
Net loss per common share — basic and diluted	$ (0.06)	$ (0.20)
Weighted average common shares outstanding — basic and diluted	56,956	44,975

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,556)	$ (2,375)
Adjustments to reconcile net loss to net cash flows from operating activities:
Payment of preferred stock dividends		(395)
Stock-based compensation expense	430	412
Amortization of right to use lease asset	9	10
Non-cash interest expense	22	22
Changes in operating assets and liabilities:
Prepaid expenses and other assets	173	(137)
Accounts payable and accrued expenses	(1,449)	(821)
Net cash from operating activities	(4,371)	(3,284)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of common stock and warrants	219	2,003
Net cash from financing activities	219	2,003
NET DECREASE IN CASH AND CASH EQUIVALENTS	(4,152)	(1,281)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	47,480	8,253
CASH AND CASH EQUIVALENTS, END OF PERIOD	43,328	$ 6,972
NONCASH FINANCING ACTIVITIES:
Payment of preferred stock dividends in common stock	$ 60

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders' Equity (Unaudited) - USD ($)	Total	Series A 12% convertible preferred stock	Series B-1 12% convertible preferred stock	Series B-2 12% convertible preferred stock	Series B-3 8% convertible preferred stock	Series C super dividend redeemable convertible preferred stock dividend	Series A 12% convertible preferred stock	Series B-1 12% convertible preferred stock	Series B-2 12% convertible preferred stock	Series B-3 8% convertible preferred stock	Common Stock [Member]	Common Stock [Member]Series A 12% convertible preferred stock	Common Stock [Member]Series C super dividend redeemable convertible preferred stock dividend	Common Stock [Member]Series B Convertible Preferred Stock [Member]	Additional Paid-In Capital	Additional Paid-In CapitalSeries A 12% convertible preferred stock	Additional Paid-In CapitalSeries C super dividend redeemable convertible preferred stock dividend	Additional Paid-In CapitalSeries B Convertible Preferred Stock [Member]	Retained Deficit	Retained DeficitSeries A 12% convertible preferred stock	Retained DeficitSeries B-1 12% convertible preferred stock	Retained DeficitSeries B-2 12% convertible preferred stock	Retained DeficitSeries B-3 8% convertible preferred stock	Retained DeficitSeries C super dividend redeemable convertible preferred stock dividend
Stockholders' Equity (Deficit), Balance (in shares) at Dec. 31, 2018							1,327,500	900,000	2,100,000	2,508,000	41,190,905
Stockholders' Equity (Deficit), Balance at Dec. 31, 2018	$ 5,175,000						$ 537,000	$ 1,761,000	$ 3,697,000	$ 1,224,000	$ 41,000				$ 194,130,000				$ (196,215,000)
Temporary Equity, Balance (in shares) at Dec. 31, 2018						176
Temporary Equity, Balance at Dec. 31, 2018						$ 1,723,000
Convertible preferred stock dividend		$ (40,000)	$ (6,000)	$ (15,000)	$ (9,000)	$ (26,000)														$ (40,000)	$ (6,000)	$ (15,000)	$ (9,000)	$ (26,000)
Issuance of common stock	1,865,000														1,865,000
Issuance of common stock (in shares)											395,233
Conversion of Series B Convertible Preferred to common								$ (1,761,000)	$ (3,697,000)	$ (1,224,000)				$ 4,000				$ 6,678,000
Conversion of Series B Convertible Preferred to common (in shares)								(900,000)	(2,100,000)	(2,508,000)				3,789,346
Issuance of common stock for exercise of warrants and options	138,000														138,000
Warrant modification (Note 5)															6,622,000				(6,622,000)
Issuance of common stock for exercise of warrants and options (in shares)											218,927
Temporary Equity, Balance (in shares) at Mar. 31, 2019						176
Net loss	(2,375,000)																		(2,375,000)
Temporary Equity, Balance at Mar. 31, 2019						$ 1,723,000
Stock-based compensation expense	412,000														412,000
Stockholders' Equity (Deficit), Balance (in shares) at Mar. 31, 2019							1,327,500				45,594,411
Stockholders' Equity (Deficit), Balance at Mar. 31, 2019	5,119,000						$ 537,000				$ 45,000				209,845,000				(205,308,000)
Stockholders' Equity (Deficit), Balance (in shares) at Dec. 31, 2019							1,327,500				56,894,642
Stockholders' Equity (Deficit), Balance at Dec. 31, 2019	43,872,000						$ 537,000				$ 56,000				259,673,000				(216,394,000)
Temporary Equity, Balance (in shares) at Dec. 31, 2019						176
Temporary Equity, Balance at Dec. 31, 2019						$ 1,723,000
Convertible preferred stock dividend		$ 40,000				$ 25,000										$ 26,000	$ 34,000			$ 14,000				$ (9,000)
Convertible preferred stock dividend (in shares)												13,275	17,600
Issuance of common stock for stock option exercises	$ 219,000														219,000
Issuance of common stock for stock option exercises ( in shares)	84,624										84,624
Temporary Equity, Balance (in shares) at Mar. 31, 2020						176
Net loss	$ (3,556,000)																		(3,556,000)
Temporary Equity, Balance at Mar. 31, 2020						$ 1,723,000
Stock-based compensation expense	430,000										$ 19,068				430,000
Stockholders' Equity (Deficit), Balance (in shares) at Mar. 31, 2020							1,327,500				57,029,209
Stockholders' Equity (Deficit), Balance at Mar. 31, 2020	$ 41,030,000						$ 537,000				$ 56,000				$ 260,382,000				$ (219,945,000)

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Basis of Presentation	1. Basis of Presentation Galectin Therapeutics Inc. and subsidiaries (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 and cancer. These candidates are based on the Company’s targeting of galectin proteins which are key mediators of biologic and pathologic function. 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 revenues. The Company anticipates that losses will continue for the foreseeable future. At March 31, 2020, the Company had $43,328,000 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 (see Note 3), to fund currently planned operations at least through September 30, 2021. We will require more cash to fund our operations after September 30, 2021 and believe we will be able to obtain additional financing. The currently planned operations include costs related to a planned adaptively designed Phase 2b/3 clinical trial. While the costs of the trial and general overhead during the first stage of the trial are currently estimated to be approximately $125 million, the costs and timing of such trial is not yet finalized. These costs will require additional funding. However, there can be no assurance that we will be successful in obtaining such new financing or, if available, that such financing will be on terms favorable to us. If we are unsuccessful in raising additional capital to fund operations before September 30, 2021, we may be required to cease operations. Accordingly, based on the forecasts and estimates underlying our current operating plan, the financial statements do not currently include any adjustments that might be necessary if we are 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 and Other

Accrued Expenses and Other	3 Months Ended
	Mar. 31, 2020
Accrued Expenses and Other	2. Accrued Expenses and Other Accrued expenses consist of the following: March 31, December 31, (in thousands) Legal and accounting fees $ 117 $ 81 Accrued compensation 469 973 Lease liability 40 39 Accrued research and development costs and other 30 — Total $ 656 $ 1,093

Line of Credit

Line of Credit	3 Months Ended
	Mar. 31, 2020
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. Originally, 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 (1.6% in December 2019). All borrowings and interest were originally 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 to date. On December 20, 2018, the Line of Credit arrangement was extended for one year for both borrowings and maturity. At the time of the conversion of the Series B Convertible Preferred stock into common stock (See Note 9), on January 11, 2019, the Line of Credit arrangement was extended for an additional two years for both borrowings and maturity. After the second amendment to the Line of Credit arrangement, borrowings may be made through December 31, 2021 with repayment due on December 31, 2022. There was no additional consideration or benefits provided to Mr. Uihlein for any of the extensions of the Line of Credit. The fair value of the 500,000 warrants vested at closing in December 2017 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	3 Months Ended
	Mar. 31, 2020
Stock-Based Compensation	4. 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 2020 2019 Research and development $ 157 $ 86 General and administrative 273 326 Total stock-based compensation expense $ 430 $ 412 The following table summarizes the stock option activity in the Company’s equity incentive plans, including non-plan Shares Weighted Average Outstanding, December 31, 2019 3,000,256 $ 4.88 Granted 845,000 2.47 Exercised (84,624 ) 2.61 Options forfeited/cancelled (23,057 ) 1.80 Outstanding, March 31, 2020 3,737,575 $ 4.40 As of March 31, 2020, there was $1,732,000 of unrecognized compensation related to 967,500 unvested options, which is expected to be recognized over a weighted–average period of approximately 2.14 years. The weighted-average grant date fair value for options granted during the three months ended March 31, 2020 was $1.92. The Company granted 845,000 stock options during the three months ended March 31, 2020. The fair value of all other options granted is determined using the Black-Scholes option-pricing model. The following weighted average assumptions were used: Three Three 2020 2019 Risk-free interest rate 1.55 % 2.68 % Expected life of the options 6 6 Expected volatility of the underlying stock 100 % 104 % Expected dividend rate 0 % 0 % In January 2019, two directors elected to take restricted stock grants in lieu of cash retainers for 2019. A total of 19,068 shares of restricted stock valued at approximately $90,000 was amortized to expense on a straight-line basis until January 16, 2020 when the stock vested in full. In January 2020, two directors elected to take restricted stock grants in lieu of cash retainers for 2020. A total of 32,693 shares of restricted stock valued at approximately $93,500 is being amortized to expense on a straight-line basis until January 9, 2021 when the stock vests in full.

Common Stock Warrants

Common Stock Warrants	3 Months Ended
	Mar. 31, 2020
Common Stock Warrants	5. Common Stock Warrants The following table summarizes the common stock warrant activity from December 31, 2019 through March 31, 2020: Shares Weighted Average Outstanding, December 31, 2019 12,538,204 $ 4.22 Granted — — Exercised — — Forfeited/cancelled — — Outstanding, March 31, 2020 12,538,204 $ 4.22

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Text Block]	6. Fair Value of Financial Instruments 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 March 31, 2020 or December 31, 2019.

Loss Per Share

Loss Per Share	3 Months Ended
	Mar. 31, 2020
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: March 31, 2020 March 31, 2019 Warrants to purchase shares of common stock 12,538,204 10,418,525 Options to purchase shares of common stock 3,737,575 3,071,044 Shares of common stock issuable upon conversion of preferred stock 514,602 514,602 16,790,381 14,004,171

Common Stock

Common Stock	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Common Stock	8. Common Stock 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 the three months ended March 31, 2019, the Company issued 395,233 shares of its common stock under the 2017 At Market Agreement for net proceeds of approximately $1,865,000. There were no issuances of common stock under the 2017 At Market Agreement during the three months ended March 31, 2020. For the three months ended March 31, 2020, the Company has issued a total of 30,875 shares of common stock for dividends on Series A and Series C Preferred Stock.

Preferred Stock Conversion into

Preferred Stock Conversion into Common Stock	3 Months Ended
	Mar. 31, 2020
Preferred Stock Conversion into Common Stock	9. Preferred Stock Conversion into Common Stock On January 11, 2019, 10X Fund L.P. (“10X Fund”), converted all of its Series B Convertible Preferred Stock into Common Stock of Galectin Therapeutics. Pursuant to the terms of the conversion, as of January 11, 2019, 10X Fund converted 5,508,000 shares of its Series B-1, B-2 B-3 In connection with the conversion of the Series B Preferred Stock, the Company extended by five years the exercise date of warrants for 3,579,642 shares of Common Stock issued by the Company in connection with sale of the Series B-1 B-2 The Company has accounted for the modified terms of the warrants pursuant to ASC 718, Stock Compensation, whereby the Company has recognized a charge for the change in fair value of the warrants immediately before and immediately after the modification. In January 2019, the Company recognized a one-time non-cash

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies	10. Commitments and Contingencies Other Legal Proceedings 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 significant pending legal proceedings.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases	11. Leases The Company has one operating lease for its office space which was amended effective January 1, 2019 for a term of 38 months with no residual value guarantees or material restrictive covenants. The amended lease provided for free rent for the first two months of the lease and continues the security deposit of $6,000. In addition to base rental payments included in the contractual obligations table above, the Company is responsible for our pro-rata Maturity of operating lease as of March 31, 2020 in thousands: 2020 $ 35 2021 48 2022 8 Total 91 Less imputed interest 10 Present value of lease liability $ 81 The discount rate used in calculating the present value of the lease payments was 11.04%

Galectin Sciences LLC

Galectin Sciences LLC	3 Months Ended
	Mar. 31, 2020
Galectin Sciences LLC	12. 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 and Other (Tab

Accrued Expenses and Other (Tables)	3 Months Ended
	Mar. 31, 2020
Accrued Expenses	Accrued expenses consist of the following: March 31, December 31, (in thousands) Legal and accounting fees $ 117 $ 81 Accrued compensation 469 973 Lease liability 40 39 Accrued research and development costs and other 30 — Total $ 656 $ 1,093

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
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 2020 2019 Research and development $ 157 $ 86 General and administrative 273 326 Total stock-based compensation expense $ 430 $ 412
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: Three Three 2020 2019 Risk-free interest rate 1.55 % 2.68 % Expected life of the options 6 6 Expected volatility of the underlying stock 100 % 104 % Expected dividend rate 0 % 0 %
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, 2019 3,000,256 $ 4.88 Granted 845,000 2.47 Exercised (84,624 ) 2.61 Options forfeited/cancelled (23,057 ) 1.80 Outstanding, March 31, 2020 3,737,575 $ 4.40

Common Stock Warrants (Tables)

Common Stock Warrants (Tables)	3 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
Common Stock Warrant Activity	The following table summarizes the common stock warrant activity from December 31, 2019 through March 31, 2020: Shares Weighted Average Outstanding, December 31, 2019 12,538,204 $ 4.22 Granted — — Exercised — — Forfeited/cancelled — — Outstanding, March 31, 2020 12,538,204 $ 4.22

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
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: March 31, 2020 March 31, 2019 Warrants to purchase shares of common stock 12,538,204 10,418,525 Options to purchase shares of common stock 3,737,575 3,071,044 Shares of common stock issuable upon conversion of preferred stock 514,602 514,602 16,790,381 14,004,171

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Maturity of operating lease	Maturity of operating lease as of March 31, 2020 in thousands: 2020 $ 35 2021 48 2022 8 Total 91 Less imputed interest 10 Present value of lease liability $ 81

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Basis of Presentation [Line Items]
Unrestricted cash and cash equivalents	$ 43,328	$ 47,480	$ 6,972	$ 8,253
Currently estimated costs of trail and general overhead	$ 125,000

Accrued Expenses and Other (Det

Accrued Expenses and Other (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Schedule of Accrued Liabilities [Line Items]
Legal and accounting fees	$ 117	$ 81
Accrued compensation	469	973
Lease liability	40	39
Accrued research and development costs and other	30
Total	$ 656	$ 1,093

Line of Credit - Additional Inf

Line of Credit - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Jan. 01, 2019	Dec. 19, 2017
Line of Credit Facility [Line Items]
Number of securities called by warrant	500,000			3,579,642
Warrant value	$ 696,000
Expected life	6 years	6 years
Expected Volatility	100.00%	104.00%
Expected dividend	0.00%	0.00%
Risk free interest rate	1.55%	2.68%
Amortization of interest expense	$ 22,000	$ 22,000
Unsecured Line Of Credit | Director
Line of Credit Facility [Line Items]
Line of credit facility					$ 10,000,000
Short term borrowing interest rate			1.60%
Number of securities called by warrant	1,000,000
Exercise price of warrant	$ 5
Line of credit current	$ 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 - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair values of options granted			$ 1.92
Unvested option			967,500
Unrecognized compensation cost			$ 1,732,000
Unrecognized compensation cost, recognition period			2 years 1 month 20 days
Number of options granted			845,000
Restricted Stock | Non Employees Seven Board Of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards granted	32,693
Amortized expense	$ 93,500
Restricted Stock | Non Employees Two Board Of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards granted		19,068
Amortized expense		$ 90,000

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
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 430	$ 412
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	157	86
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 273	$ 326

Summary of Stock Option Activit

Summary of Stock Option Activity (Detail)	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Shares
Beginning Balance | shares	3,000,256
Granted | shares	845,000
Forfeited/Cancelled | shares	(23,057)
Exercised | shares	(84,624)
Ending Balance | shares	3,737,575
Weighted Average Exercise Price
Beginning Balance | $ / shares	$ 4.88
Granted | $ / shares	2.47
Forfeited/Cancelled | $ / shares	1.80
Exercised | $ / shares	2.61
Ending Balance | $ / shares	$ 4.40

Weighted Average Assumptions Us

Weighted Average Assumptions Used to Determine Fair Value of Options Granted (Detail)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.55%	2.68%
Expected life of the options	6 years	6 years
Expected volatility of the underlying stock	100.00%	104.00%
Expected dividend rate	0.00%	0.00%

Common Stock Warrant Activity (

Common Stock Warrant Activity (Detail)	Mar. 31, 2020$ / sharesshares
Shares
Beginning Balance | shares	12,538,204
Ending Balance | shares	12,538,204
Weighted Average Exercise Price
Outstanding, December 31, 2019 | $ / shares	$ 4.22
Outstanding, March 31, 2020 | $ / shares	$ 4.22

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	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	16,790,381	14,004,171
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	12,538,204	10,418,525
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	3,737,575	3,071,044
Contingently Issuable Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive shares not included in calculation	514,602	514,602

Common Stock - Additional Infor

Common Stock - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	May 19, 2017
Class of Stock [Line Items]
Net proceeds from issuance of common stock	$ 219,000	$ 2,003,000
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	0	395,233
Net proceeds from issuance of common stock		$ 1,865,000
Other Agreements
Class of Stock [Line Items]
Common stock issued for dividend	30,875

Preferred Stock Conversion in_2

Preferred Stock Conversion into Common Stock - Additional Information (Detail)	Jan. 11, 2019USD ($)shares	Jan. 31, 2019shares	Mar. 31, 2019USD ($)	Mar. 31, 2020shares	Jan. 01, 2019yrshares
Number of shares called by warrants | shares				500,000	3,579,642
Recognition of non cash charge related to extension of warrants | $	$ 6,622,000		$ 6,622,000
Warrants Issued | shares		3,579,642
Derivative Liability					0
Minimum Expected Life Range [Member] | Maximum [Member] | Before Modification of Terms of Warrants [Member]
Derivative Liability | yr					1.33
Minimum Expected Life Range [Member] | Maximum [Member] | After Modification of Terms of Warrants [Member]
Derivative Liability | yr					6.33
Minimum Expected Life Range [Member] | Minimum [Member] | Before Modification of Terms of Warrants [Member]
Derivative Liability | yr					0.09
Minimum Expected Life Range [Member] | Minimum [Member] | After Modification of Terms of Warrants [Member]
Derivative Liability | yr					5.09
Measurement Input, Volatility Rate [Member] | Before Modification of Terms of Warrants [Member]
Derivative Liability					98
Measurement Input, Volatility Rate [Member] | After Modification of Terms of Warrants [Member]
Derivative Liability					106
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | Before Modification of Terms of Warrants [Member]
Derivative Liability					2.59
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | After Modification of Terms of Warrants [Member]
Derivative Liability					2.6
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | Before Modification of Terms of Warrants [Member]
Derivative Liability					2.4
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | After Modification of Terms of Warrants [Member]
Derivative Liability					2.56
Common Stock [Member] | 10X Fund L.P.[Member]
Common stocks issued upon conversion of Preferred Stock | shares	3,789,346
Series B1 B2 and B3 Convertible Preferred Stock [Member] | 10X Fund L.P.[Member]
Convertible preferred shares | shares	5,508,000

Galectin Science LLC - Addition

Galectin Science LLC - Additional Information (Detail) - Galectin Sciences, LLC - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended	75 Months Ended
	Jan. 31, 2014	Mar. 31, 2020	Dec. 31, 2014	Mar. 31, 2020
Investments in and Advances to Affiliates [Line Items]
Equity method investment in Galectin Sciences LLC	$ 400,000
Subsequent capital contribution		$ 207,000		$ 2,158,000
Equity Method Investment, Ownership Percentage	50.00%
Loss from equity method investment in Galectin Sciences, LLC			$ 400,000
SBH Sciences, Inc
Investments in and Advances to Affiliates [Line Items]
Subsequent capital contribution		$ 158,000
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
Ownership Percentage		82.10%

Leases Additional Information (

Leases Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Jan. 01, 2019
Term of Contract				38 months
Lease Deposits				$ 6,000
Lease liability	$ 40,000		$ 39,000
Discount rate	11.04%
Other assets
Right-of-Use Asset	$ 75,000
Accrued And Other Liabilities Current
Lease liability	40,000
Other liabilities
Non current lease liability	41,000
General and administrative
Lease cost	$ 11,000	$ 11,000

Leases - Maturity of operating

Leases - Maturity of operating lease (Details) $ in Thousands	Mar. 31, 2020USD ($)
Leases [Abstract]
2020	$ 35
2021	48
2022	8
Total	91
Less imputed interest	10
Present value of lease liability	$ 81