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Galecto Inc - GLTO STOCK NEWS

Welcome to our dedicated news page for Galecto (Ticker: GLTO), a resource for investors and traders seeking the latest updates and insights on Galecto.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Galecto's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Galecto's position in the market.

Rhea-AI Summary
Galecto, Inc. (NASDAQ: GLTO) announces positive topline results from a Phase 2a trial of GB2064 for the treatment of myelofibrosis, with six out of ten evaluable myelofibrosis patients experiencing a ≥ 1-grade reduction in collagen fibrosis of the bone marrow. The trial showed that GB2064 could impact the progression of the disease and be disease-modifying, with generally acceptable tolerability profile and encouraging safety and effectiveness of LOXL-2 inhibition.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.42%
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Rhea-AI Summary
Galecto, Inc. presents new clinical data at ESMO Congress 2023, showing positive response rates in patients with advanced non-small cell lung cancer treated with GB1211 and atezolizumab. The combination therapy resulted in partial responses in three out of five patients (60%) who received GB1211 for at least three weeks. This suggests a potential benefit of adding GB1211 to atezolizumab, as response rates with atezolizumab monotherapy have been lower. Galecto plans to focus on the treatment of severe liver diseases and explore external options for partnering and funding additional oncology-focused activities for GB1211.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.53%
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conferences clinical trial
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Rhea-AI Summary
Galecto, Inc. announces exploration of strategic alternatives to maximize shareholder value, including potential acquisition, merger, or divestiture of assets. Plans to implement restructuring plan with a 70% reduction in workforce. Cash balance as of June 30, 2023, was $52.1 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
22.24%
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none
Rhea-AI Summary
Galecto, Inc. (NASDAQ: GLTO) announces participation in upcoming conferences.
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Rhea-AI Sentiment
End-of-Day
3.95%
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conferences
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Rhea-AI Summary
Galecto, Inc. announces topline results from its Phase 2b GALACTIC-1 trial evaluating inhaled GB0139 for the treatment of idiopathic pulmonary fibrosis (IPF). The trial did not meet its primary endpoint. Galecto plans to discontinue development of GB0139 and focus on severe liver diseases. Galecto had approximately $49.0 million in cash as of July 31, 2023. Galecto will evaluate resource allocation to extend its cash runway into 2025. Galecto will focus on advancing its pipeline of orally administered compounds, GB1211 and GB2064, for severe liver diseases.
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Rhea-AI Sentiment
End-of-Day
-71.2%
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Rhea-AI Summary
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Rhea-AI Sentiment
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-9.09%
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conferences earnings
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-4.93%
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2.68%
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conferences
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Rhea-AI Sentiment
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0.19%
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Rhea-AI Sentiment
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5.86%
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conferences
Galecto Inc

Nasdaq:GLTO

GLTO Rankings

GLTO Stock Data

18.46M
22.44M
11.81%
19.77%
0.12%
Pharmaceutical Preparation Manufacturing
Manufacturing
Link
Denmark
Copenhagen

About GLTO

galecto biotech is a newly founded company, focused on developing novel drugs for the treatment of fibrosis, inflammation and other serious human diseases. the company’s products target galectins, a group of proteins that play important roles in many disorders. galecto biotech’s high potency galectin modulators may open new treatment possibilities for many patients. the company, which is located in lund, sweden, is led by top-level scientists and biotech executives.