Galecto Inc. Stock Price, News & Analysis

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.

BOSTON, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Galecto, a clinical stage biotechnology company focused on fibrosis and cancer treatments, announced that CEO Hans Schambye will present at an event on September 28, 2021, at 8:40 AM ET. The presentation will be accessible via a live audio webcast found on Galecto’s Investor website. Following the event, a replay will also be available. Galecto is advancing multiple Phase 2 clinical programs, including an inhaled modulator for idiopathic pulmonary fibrosis and an orally active inhibitor for myelofibrosis.

Galecto, Inc. (NASDAQ: GLTO) has initiated the GULLIVER-2 trial for its galectin-3 inhibitor, GB1211, targeting liver cirrhosis. The trial, now underway, aims to examine the safety and efficacy of GB1211 in 54 patients, with results expected in late 2022. This trial is part of Galecto's strategy to address high unmet medical needs in significant diseases. With GB1211's previous success in Phase 1 trials and its potential to treat multiple cancers, Galecto reinforces its robust clinical pipeline, which includes three ongoing Phase 2 trials across various indications.

Galecto, Inc. (NASDAQ: GLTO) has initiated a Phase 2a trial for its oral LOXL2 inhibitor, GB2064, aimed at treating myelofibrosis, a rare blood cancer. The MYLOX-1 trial will evaluate safety, tolerability, and the drug's effects on fibrosis in 16 patients over 9 months. Galecto's CEO highlighted the unmet medical need in myelofibrosis, where current treatment options are limited. Previously, GB2064 showed no safety issues in a Phase 1 study with healthy volunteers. With LOXL2 being a crucial target in fibrosis, this trial may offer new therapeutic hope.

Galecto, Inc. (NASDAQ: GLTO) reported its Q2 2021 financial results, highlighting ongoing advancements in its fibrosis and cancer treatment pipelines. The company resumed recruitment for its GALACTIC-1 Phase 2b trial of GB0139, an inhaled galectin-3 inhibitor for idiopathic pulmonary fibrosis, after regulatory approval. Recent results indicated GB0139's efficacy in COVID-19 patients with compromised lung function. Financially, Galecto held $138 million in cash and equivalents, with R&D expenses increasing to $8.6 million due to clinical activities. The net loss for the quarter was $12.3 million, or $(0.49) per share.

Galecto, Inc. (NASDAQ: GLTO) has resumed recruitment for its Phase 2b GALACTIC-1 trial of GB0139, an inhaled treatment for Idiopathic Pulmonary Fibrosis (IPF). The revised protocol allows recruitment of patients not currently on nintedanib or pirfenidone. The trial will assess safety and efficacy over 52 weeks, with topline results expected by mid-2023. Previous studies showed GB0139 was well-tolerated and demonstrated significant effects on fibrosis biomarkers. The company aims to address the unmet medical need for IPF treatments, as 50% of patients in Europe and the US do not receive existing therapies.