Welcome to our dedicated page for Galera Therapeutics news (Ticker: GRTX), a resource for investors and traders seeking the latest updates and insights on Galera Therapeutics stock.
Galera Therapeutics, Inc. (GRTX) is a clinical-stage biopharmaceutical company pioneering therapies to reduce radiotherapy complications and enhance cancer treatment efficacy. This dedicated news hub provides investors and researchers with timely updates on clinical developments, regulatory milestones, and strategic initiatives.
Access comprehensive coverage of GRTX's dismutase mimetic pipeline, including avasopasem manganese for severe oral mucositis and rucosopasem manganese for radiation sensitization. Track progress across Phase 2/3 trials, partnership announcements, and scientific presentations while staying informed about financial updates and corporate strategies.
Our curated news collection features verified press releases on trial results, FDA designations (Fast Track/Breakthrough Therapy), intellectual property developments, and management commentary. Regular updates ensure stakeholders maintain current insights into GRTX's oncology-focused research and market positioning.
Bookmark this page for centralized access to GRTX's latest advancements in radiotherapy toxicity reduction and anti-cancer therapeutic development. Check back frequently for authoritative reporting on this innovative biopharmaceutical company's progress in transforming cancer care paradigms.
Galera Therapeutics (OTC: GRTX) has completed the acquisition of Nova Pharmaceuticals, shifting its focus to anti-cancer therapeutics with three trials targeting resistant breast cancer types. The company's lead program is a Phase 1/2 trial of Nova's Clinical Stage Nitric Oxide Synthase (NOS) Inhibitor combined with standard treatments for metaplastic breast cancer.
A syndicate led by Ikarian Capital invested $3 million in Galera common stock. The company's cash balance is expected to fund operations through its lead program data readout and into 2026. Additional trials include a TNBC study with the I-SPY 2 consortium and an Avasopasem trial in hormone-receptor positive advanced breast cancer, scheduled to begin in H1 2025.
Galera Therapeutics (Nasdaq: GRTX) announced its Board's approval of a Plan of Liquidation and Dissolution, seeking stockholder approval on October 17, 2024. If approved, the company will file for dissolution with Delaware and distribute remaining cash to stockholders after settling liabilities. This decision follows a year-long review of strategic alternatives to maximize stockholder value. Galera will reduce its workforce to three employees by August 31, 2024, with the CEO continuing through the transition.
In Q2 2024, Galera reported:
- Research and development expenses: $1.4 million (down from $7.6 million in Q2 2023)
- General and administrative expenses: $2.8 million (down from $9.2 million in Q2 2023)
- Net loss: $(4.1) million, or $(0.07) per share
- Cash and cash equivalents: $10.7 million as of June 30, 2024
Galera Therapeutics, Inc. (Nasdaq: GRTX) reported financial results for Q1 2024, highlighting a net loss decrease compared to 2023. The company is exploring strategic alternatives to maximize shareholder value, potentially leading to dissolution. The Board adopted a Rights Agreement to protect stockholder interests. Galera had $13.5 million in cash as of March 31, 2024, expected to fund operations into Q3 2025.
Galera Therapeutics, Inc. adopts a duration stockholder rights agreement to protect stockholder interests in response to recent accumulations of the company's common stock. The agreement aims to enable all stockholders to realize the full potential value of their investment, reduce the likelihood of a person or group gaining control without paying an appropriate premium, and provide the Board with time to make informed decisions. The Rights Agreement will issue preferred share purchase rights to stockholders, with an expiration date of May 2, 2025. The agreement becomes exercisable if an acquiring person obtains ten percent or more of the company's common stock in an unapproved transaction.
FAQ
What is the current stock price of Galera Therapeutics (GRTX)?
What is the market cap of Galera Therapeutics (GRTX)?
