Welcome to our dedicated page for Galecto news (Ticker: GLTO), a resource for investors and traders seeking the latest updates and insights on Galecto stock.
Galecto, Inc. (NASDAQ: GLTO) is a clinical-stage biopharmaceutical company developing novel therapies for cancer and liver diseases, with a growing focus on hematological malignancies. The GLTO news feed on Stock Titan aggregates company announcements, scientific updates and regulatory disclosures so readers can follow how Galecto’s pipeline and corporate strategy evolve over time.
Recent news emphasizes Galecto’s shift toward blood cancers, highlighted by the acquisition of Damora Therapeutics and the integration of a mutant calreticulin (mutCALR)-driven myeloproliferative neoplasm portfolio. Updates describe progress on DMR-001, an anti-mutCALR monoclonal antibody for essential thrombocythemia and myelofibrosis, and DMR-002, an additional anti-mutCALR antibody. News items also cover GB3226, a dual ENL-YEATS and FLT3 inhibitor for multiple genetic subsets of acute myeloid leukemia, including preclinical data presentations and plans for first-in-human studies.
Investors and followers of GLTO can use this page to track a range of developments: pipeline milestones such as planned IND submissions, preclinical and early clinical data disclosures, corporate transactions including the Damora acquisition and private placements, and leadership changes like the appointment of new executives with hematology/oncology experience. Financial result releases offer context on Galecto’s operating expenses, research and development priorities and cash runway.
This news archive is useful for anyone monitoring how Galecto executes on its strategy in hematology-oncology and liver disease, from the advancement of DMR-001 and GB3226 to the progress of GB1211 in liver cirrhosis and oncology combinations. Bookmark this GLTO news page to quickly access the latest company press releases and related updates as they are reported.
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.
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