Galectin Therapeutics Inc (OTC:GALT) has been on the progressive move since last week. Yesterday, the stock added another 
1.06% to ist price, while its traded volume decreased. At the same time, there was no news to explain the uptrend.
The last announcement by Galectin was issued ten days ago. Then the company announced the appointment of Thomas A. McGauley as the Acting Chief Financial Officer of GALT, effective March 6, this year. Mr. McGauley will replace the previous CFO of Galectin, Anthony D. Squeglia, until the earlier of Sept 30, 2012 and the time upon which a permanent CFO can be found.
The news did not seem that strong to inspire investors at once, though GALT started to climb up a few days later.
Galectin Therapeutics Inc. is a development stage company which creates new therapies for fibrotic disease and cancer. As of September 30, 2011 the company’s cash and cash equivalents have increased, though the deficit accumulated during the development stage also jumped up.
At the same time, the net loss rose by approximately 50% as compared to the previous year, the cash flow from operating activities remained negative, and the revenues kept pointing zero.[BANNER]
Still, the management believe that their cash on hand is sufficient to fund core operations through the first quarter of 2013. Though, they will require additional financing to fund the company’s operations.
However, there can be no assurance that GALT will be successful in obtaining such new financing or, if available, that it will be on terms favorable to the company. If the management are unsuccessful in raising additional capital before the end of the first quarter of 2013, they may be required to cease operations or seek bankruptcy protection.
