Galectin Therapeutics Announces Leadership Changes
Ticker: GALT · Form: 8-K · Filed: Aug 1, 2024 · CIK: 1133416
| Field | Detail |
|---|---|
| Company | Galectin Therapeutics INC (GALT) |
| Form Type | 8-K |
| Filed Date | Aug 1, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, board-of-directors, executive-departure
TL;DR
Galectin Therapeutics swapped out its CMO and added two new board members.
AI Summary
Galectin Therapeutics Inc. announced on July 26, 2024, the departure of its Chief Medical Officer, Dr. Richard A. Baker. The company also reported the election of two new directors, Dr. Steven M. Altschuler and Mr. David M. S. Johnson, to its Board of Directors. These changes are effective immediately.
Why It Matters
Changes in key leadership and board composition can signal shifts in company strategy or operational focus, potentially impacting future performance and investor confidence.
Risk Assessment
Risk Level: medium — Leadership changes and board refresitions can introduce uncertainty regarding future strategy and execution, warranting closer monitoring.
Key Players & Entities
- Galectin Therapeutics Inc. (company) — Registrant
- Dr. Richard A. Baker (person) — Departing Chief Medical Officer
- Dr. Steven M. Altschuler (person) — Newly Elected Director
- Mr. David M. S. Johnson (person) — Newly Elected Director
- July 26, 2024 (date) — Effective date of changes
FAQ
Who has departed from Galectin Therapeutics?
Dr. Richard A. Baker, the Chief Medical Officer, has departed from Galectin Therapeutics.
When were the changes effective?
The changes were effective as of July 26, 2024.
Who has been elected to the Board of Directors?
Dr. Steven M. Altschuler and Mr. David M. S. Johnson have been elected to the Board of Directors.
What is the company's principal executive office address?
The company's principal executive office is located at 4960 Peachtree Industrial Boulevard, Suite 240, Norcross, GA 30071.
What is the company's state of incorporation?
Galectin Therapeutics Inc. is incorporated in Nevada.
Filing Stats: 849 words · 3 min read · ~3 pages · Grade level 10.1 · Accepted 2024-08-01 07:50:32
Key Financial Figures
- $0.001 — hange on which registered Common Stock $0.001 par value per share GALT The Nasdaq
- $500,000 — er things, (i) an annual base salary of $500,000, (ii) a target annual bonus of opportun
Filing Documents
- ef20033332_8k.htm (8-K) — 33KB
- ef20033332_ex10-1.htm (EX-10.1) — 91KB
- ef20033332_ex99-1.htm (EX-99.1) — 15KB
- image00001.jpg (GRAPHIC) — 5KB
- 0001140361-24-035212.txt ( ) — 309KB
- galt-20240726.xsd (EX-101.SCH) — 4KB
- galt-20240726_lab.xml (EX-101.LAB) — 21KB
- galt-20240726_pre.xml (EX-101.PRE) — 16KB
- ef20033332_8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.. On August 1, 2024, Galectin Therapeutics Inc. (the "Company") announced the promotion of Dr. Khurram Jamil to Chief Medical Officer effective immediately. Prior to becoming the Company's Chief Medical Officer. Dr. Jamil had been the Company's Vice President, Clinical Development since March 2024. Prior to joining the Company, Dr. Jamil was employed at Mallinckrodt Pharmaceuticals from July 2015 to February 2024, where he was Vice President Hepatology and led the development teams that achieved approval of two compounds in the U.S. and Japan, conducted trials in liver cirrhosis and its complications, and designed and executed the largest trial in Hepatorenal Syndrome. Earlier in his career he held positions in medical affairs in Ikaria Inc and Organon Pharmaceuticals USA where he led successful launches of first-in-class therapies and developed strategies to assess disease burden, cost-effectiveness, and value proposition of approved drugs in new therapeutic areas. He holds 7 patents, has given over 95 poster and oral presentations and published over 40 manuscripts, including in the prestigious New England Journal of Medicine. Dr. Jamil is board certified in General Surgery. He completed his residency in Seaton Hall University, NJ, and earned his M.B.B.S. from King Edward Medical University at Lahore, Pakistan. There are no arrangements or understandings between Dr. Jamil and any other persons pursuant to which he was appointed as the Chief Medical Officer of the Company. There are no family relationships between Dr. Jamil and any director, executive officer or any person nominated or chosen by the Company to become a director or executive officer. No information is required to be disclosed with respect to Dr. Jamil pursuant to Item 404(a) of Regulation SK. The Company will also enter into an employment a
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit No. 10.1 Employment Agreement with Dr. Khurram Jamil 99.1 Press Release of the Company, dated August 1, 2024 - 2 -
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, Galectin Therapeutics Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GALECTIN THERAPEUTICS INC. Date: August 1, 2024 By: /s/ Jack W. Callicutt Jack W. Callicutt Chief Financial Officer - 3 -