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SEC Comment Letter for GALECTIN THERAPEUTICS INC (GALT) (CIK 0001133416) (GALT) — Apr 8, 2008

GALECTIN THERAPEUTICS INC (GALT) (CIK 0001133416)
Date: April 8, 2008 · CIK: 0001133416 · Accession: 0000000000-08-018366

AI Filing Summary & Sentiment

Sentiment
Urgency
Document Type
Confidence
SEC Posture
Company Posture

Summary

Reasoning

Date
April 8, 2008
Author
Jeffrey P. Riedler
Form
UPLOAD
Company
GALECTIN THERAPEUTICS INC (GALT) (CIK 0001133416)

Letter

Mail Stop 6010 April 8, 2008 David Platt, Ph.D. Chief Executive Officer and Chairman of the Board Pro-Pharmaceuticals, Inc. 7 Wells Avenue Newton, Massachusetts 02459 Re: Pro-Pharmaceuticals, Inc. Preliminary Proxy Statement on Schedule 14A Filed April 3, 2008 File No. 1-31791

Dear Dr. Platt: We have reviewed your filing and have the following comment. Where indicated, we think you should revise your document in response to this comment. If you disagree, we will consider your explanation as to why our comment is inapplicable or a revision is unnecessary. Please be as detailed as necessary in your explanation. Please understand that the purpose of our review process is to assist you in your compliance with the applicable disclosure requirements and to enhance the overall disclosure in your filing. We look forward to working with you in these respects. We welcome any questions you may have about our comment or any other aspect of our review. Feel free to call us at the telephone numbers listed at the end of this letter. Proposal No. 3, page 15

1. We note that you are seeking stockholder approval of an amendment to your Articles of Incorporation providing for an increase in the number of authorized shares of your common stock from 100,000,000 to 200,000,000. Please revise your disclosure to describe any plans, arrangements or understandings to issue shares of common stock that will be available as a result of the amendment to your Articles of Incorporation. If you have no such plans, arrangements or understandings, please revise your disclosure to state so.

* * *

David Platt, Ph.D. Pro-Pharmaceuticals, Inc. April 8, 2008 Page 2 As appropriate, please amend your filing and respond to this comment within 10 business days or tell us when you will provide us with a response. You may wish to provide us with marked copies of the amendment to expedite our review. Please furnish a cover letter with your amendment that keys your response to our comment and provides any requested information. Detailed cover letters greatly facilitate our review. Please understand that we may have additional comments after reviewing your amendment and response to our comment. We urge all persons who are responsible for the accuracy and adequacy of the disclosure in the filing to be certain that the filing includes all information required under the Securities Exchange Act of 1934 and that they have provided all information investors require for an informed investment decision. Since the company and its management are in possession of all facts relating to a company’s disclosure, they are responsible for the accuracy and adequacy of the disclosures they have made. In connection with responding to our comments, please provide, in writing, a statement from the company acknowledging that: • the company is responsible for the adequacy and accuracy of the disclosure in the filing;

• staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and

• the company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. In addition, please be advised that the Division of Enforcement has access to all information you provide to the staff of the Di vision of Corporation Finance in our review of your filing or in response to our comments on your filing. Please contact Sebastian Gomez Aber o at (202) 551-3578 or me at (202) 551- 3715 with any questions. S i n c e r e l y , J e f f r e y P . R i e d l e r A s s i s t a n t D i r e c t o r

Show Raw Text
Mail Stop 6010          April 8, 2008   David Platt, Ph.D. Chief Executive Officer and Chairman of the Board Pro-Pharmaceuticals, Inc. 7 Wells Avenue Newton, Massachusetts 02459
 Re: Pro-Pharmaceuticals, Inc.
  Preliminary Proxy Statement on Schedule 14A   Filed April 3, 2008   File No. 1-31791

Dear Dr. Platt:   We have reviewed your filing and have the following comment.  Where indicated, we think you should revise your document in response to this comment.  If you disagree, we will consider your explanation as to why our comment is inapplicable or a revision is unnecessary.  Please be as detailed as necessary in your explanation.     Please understand that the purpose of our review process is to assist you in your compliance with the applicable disclosure requirements and to enhance the overall disclosure in your filing.  We look forward to working with you in these respects.  We welcome any questions you may have about our comment or any other aspect of our review.  Feel free to call us at the telephone numbers listed at the end of this letter.  Proposal No. 3, page 15

1. We note that you are seeking stockholder approval of an amendment to your Articles of Incorporation providing for an increase in the number of authorized shares of your common stock from 100,000,000 to 200,000,000.  Please revise your disclosure to describe any plans, arrangements or understandings to issue shares of common stock that will be available as a result of the amendment to your Articles of Incorporation.  If you have no such plans, arrangements or understandings, please revise your disclosure to state so.

* * *

David Platt, Ph.D.
Pro-Pharmaceuticals, Inc.
April 8, 2008 Page 2   As appropriate, please amend your filing and respond to this comment within 10 business days or tell us when you will provide us with a response.  You may wish to provide us with marked copies of the amendment to expedite our review.  Please furnish a cover letter with your amendment that keys your response to our comment and provides any requested information.  Detailed cover letters greatly facilitate our review.  Please understand that we may have additional comments after reviewing your amendment and response to our comment.   We urge all persons who are responsible for the accuracy and adequacy of the disclosure in the filing to be certain that the filing includes all information required under the Securities Exchange Act of 1934 and that they have provided all information investors require for an informed investment decision.  Since the company and its management are in possession of all facts relating to a company’s disclosure, they are responsible for the accuracy and adequacy of the disclosures they have made.   In connection with responding to our comments, please provide, in writing, a statement from the company acknowledging that:
• the company is responsible for the adequacy and accuracy of the disclosure in the
filing;

• staff comments or changes to disclosure in response to staff comments do not
foreclose the Commission from taking any action with respect to the filing; and

• the company may not assert staff comments as a defense in any proceeding initiated
by the Commission or any person under the federal securities laws of the United States.
  In addition, please be advised that the Division of Enforcement has access to all information you provide to the staff of the Di vision of Corporation Finance in our review
of your filing or in response to our comments on your filing.   Please contact Sebastian Gomez Aber o at (202) 551-3578 or me at (202) 551-
3715 with any questions.          S i n c e r e l y ,             J e f f r e y  P .  R i e d l e r          A s s i s t a n t  D i r e c t o r