Galecto Inc. Stock Price, News & Analysis

Galecto Inc (NASDAQ: GLTO), a clinical-stage biotechnology company developing treatments for cancer and severe liver diseases, has announced its participation in three major upcoming investor conferences.

The company will present at the Oppenheimer 35th Annual Healthcare Life Sciences Conference on February 12, 2025, from 8:40-9:10 AM in a virtual format, featuring both a corporate presentation and one-on-one meetings. A live webcast will be available on Galecto's investor relations website, with replay access for 90 days.

Additionally, Galecto will attend the Leerink Partners Global Healthcare Conference on March 12 in Miami Beach, Florida, conducting one-on-one meetings, and the 37th Annual ROTH Conference on March 17-18 in Dana Point, CA, where they will deliver a corporate presentation and hold one-on-one meetings.

Galecto Inc (NASDAQ: GLTO) reported Q3 2024 financial results and strategic updates. The company completed a strategic review to focus on oncology and liver diseases, acquiring global rights to BRM-1420, a dual ENL-YEATS and FLT3 inhibitor for acute myeloid leukemia (AML). Cash position stood at $19.7 million as of September 30, 2024. Q3 net loss was $3.9 million ($3.39 per share), improved from $8.1 million loss year-over-year. R&D expenses decreased to $1.1 million from $2.6 million, while G&A expenses reduced to $2.7 million from $3.3 million in Q3 2023.

Galecto, Inc. (NASDAQ: GLTO), a clinical-stage biotechnology company focused on developing novel treatments for cancer and fibrosis, has appointed Dr. Amy Wechsler to its Board of Directors. Dr. Wechsler, board-certified in both dermatology and psychiatry, brings a unique combination of expertise and leadership experience in healthcare. She has been a practicing dermatologist since 2005 and has served on the Board of Directors for Bausch Health since 2016. Dr. Wechsler is also an adjunct clinical professor of psychiatry at Weill Cornell Medical College.

Dr. Carl Goldfischer, Chair of the Board of Galecto, expressed enthusiasm for Dr. Wechsler's appointment, highlighting her experience in guiding companies through critical growth stages. Dr. Wechsler holds a B.S. in psychology from Duke University, an M.D. from Cornell University Medical College, and recently earned an M.B.A. from Columbia Business School in 2024.

Galecto, Inc. (NASDAQ: GLTO) has announced a strategic shift to focus on cancer and liver disease, leveraging its clinical-stage asset GB1211. The company has also acquired global rights to BRM-1420, a novel dual ENL-YEATS and FLT3 inhibitor for acute myeloid leukemia (AML), from Bridge Medicines.

Key points:

• GB1211 has shown positive results in non-small cell lung cancer and decompensated cirrhosis studies
• BRM-1420 has potential for enhanced clinical effectiveness compared to FLT3 inhibitors alone
• Galecto issued 62,594 shares of common stock and 160.562 shares of new Series A preferred stock to Bridge Medicines as consideration
• Matthew Kronmiller, Bridge Medicine's CEO, will join Galecto as EVP of Strategy and Chief Business Officer

The strategic review aims to build value and develop breakthrough treatments for oncology and liver conditions.

Galecto Inc (NASDAQ: GLTO), a clinical-stage biotechnology company, has announced a 1-for-25 Reverse Stock Split of its common stock, effective August 29, 2024. This move, approved by shareholders on June 20, 2024, aims to bring the company into compliance with Nasdaq's minimum bid price requirement. The stock will trade under the existing symbol 'GLTO' with a new CUSIP number. The split will reduce outstanding shares from approximately 27.1 million to 1.1 million. Proportional adjustments will be made to stock options and restricted stock units. No fractional shares will be issued, with rounding up to the nearest whole number. The split does not impact shareholders' percentage ownership, except for minor adjustments due to fractional shares.

Galecto, Inc. announced the enrollment of the first patient in an investigator-initiated Phase 2 trial to evaluate GB1211, a galectin-3 inhibitor, in combination with pembrolizumab for metastatic melanoma and head and neck squamous cell carcinoma. Galecto aims to explore GB1211's potential to enhance the effectiveness of pembrolizumab in various cancer indications.