Galecto Inc. Stock Price, News & Analysis

Galecto, Inc. (NASDAQ: GLTO), a biotechnology company focused on fibrosis and cancer treatments, announced participation in two upcoming conferences. The SVB Leerink Healthcare Conference is set for February 16, 2022, at 8:00 am ET, with a live webcast available. The Credit Suisse London Healthcare Conference will take place March 1-4, 2022, featuring one-on-one meetings. Galecto is developing innovative therapies, including a Phase 2b inhaled modulator for idiopathic pulmonary fibrosis.

Galecto, Inc. (NASDAQ: GLTO) announced positive results from the GALACTIC-1 trial, evaluating the safety and efficacy of GB0139, an inhaled galectin-3 inhibitor, in patients with severe lung disease related to COVID-19. The study achieved its primary endpoint with no treatment-related adverse events and a significant reduction in serum galectin-3 levels (p<0.01). Additionally, patients showed decreased oxygen requirements and a 21% reduction in mortality among high-risk groups. The company plans to amend the trial protocol to reduce the target patient population, aiming for topline results in mid-2023.

Galecto, Inc. (NASDAQ: GLTO) has appointed Dr. Stephanie Oestreich as the new Chief Business Officer to enhance its leadership team. Dr. Oestreich joins from Mnemo Therapeutics and has extensive experience in drug development and business transactions exceeding $2 billion. Galecto aims to advance its candidates through clinical trials, with expectations of four Phase 2 studies commencing in 2022. The company is focused on developing therapies for fibrosis and cancer, with various ongoing clinical programs in these areas.

Galecto, Inc. (NASDAQ: GLTO) has enrolled 10 out of 16 patients in its Phase 2a trial of the oral LOXL2 inhibitor GB2064 for myelofibrosis. The MYLOX-1 trial aims to assess safety and pharmacokinetics over nine months, with interim data expected in mid-2022 and topline results in 2H 2022. GB2064 has shown potent inhibition of LOXL2 in preclinical studies and completed Phase 1 trials in healthy volunteers without significant tolerability issues. The trial is positioned as a step forward in developing treatments for this serious bone marrow cancer, affecting blood cell production.

Galecto, Inc. (NASDAQ: GLTO) announced the successful completion of Part 1 of its Phase 1b/2a GULLIVER-2 trial for the oral galectin-3 inhibitor GB1211. The trial, focusing on patients with moderate hepatic impairment, showed GB1211 to be safe and well-tolerated, with no serious adverse events reported. Galecto has now initiated Part 2, aiming to evaluate GB1211’s effects on liver function over 12 weeks. This trial addresses a significant unmet medical need in liver cirrhosis, where no disease-modifying therapies currently exist. Initial findings suggest promising data for further development.

Galecto, Inc. (NASDAQ: GLTO) announced its Q3 2021 financial results and operational updates. The company is progressing with two Phase 2 trials: GB1211 for liver cirrhosis and GB2064 for myelofibrosis. A collaboration with Roche was established for GB1211 in NSCLC, marking an expansion into oncology. Financially, Galecto reported a cash position of $128 million, sufficient to fund operations into late 2024. Research and development expenses rose to $9.7 million due to active trials, while the net loss decreased to $12.7 million, a positive sign compared to $14.4 million in the previous year.

Galecto, Inc. (NASDAQ: GLTO) has entered a clinical trial supply agreement with Roche to combine its oral galectin-3 inhibitor GB1211 with Roche's PD-L1 inhibitor, atezolizumab (Tecentriq®), in a planned Phase 2a trial targeting non-small-cell lung cancer (NSCLC). The trial, funded by Galecto, aims to evaluate safety and efficacy in up to 70 NSCLC patients. GB1211 shows promise in enhancing T-cell function and checkpoint inhibitor response in tumors with high galectin-3 levels. Topline data is expected in mid-2023, expanding Galecto's oncology pipeline significantly.

Galecto, Inc. (NASDAQ: GLTO) announced a KOL webinar on BG1211, a potential treatment for non-small cell lung cancer (NSCLC), taking place on November 8, 2021. Featured speakers include KOLs Alexander M.M. Eggermont and William L. Redmond, discussing the treatment landscape and the role of galectin-3 in cancer. CEO Hans T. Schambye will update on the company’s pipeline and clinical plans for GB1211. The event will conclude with a Q&A session. Registration is available here.

Galecto, Inc. (NASDAQ: GLTO), a biotechnology firm focused on fibrosis and cancer treatments, announces participation in two key healthcare conferences. The management team will present virtually at the Credit Suisse Healthcare Conference on November 10, 2021, at 8:00 AM ET, and in-person at the Jefferies London Healthcare Conference on November 16, 2021, at 8:30 AM ET. Attendees can expect insights into Galecto’s ongoing clinical trials, including treatments for idiopathic pulmonary fibrosis and myelofibrosis. Live audio webcasts will be available on their investor website.