Galecto, Inc , a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases.
infoGalecto is a micro cap stock with a total market cap of 17.66M.
infoThey trade on the NASDAQ and had their IPO 2 years and 9 months ago.
infoGalecto currently employs 45 people.
infoAs of Wednesday, Aug 23 2023, Galecto’s share price is $0.6514.
News Relating to Galecto
Zacks Investment Research
Galecto (GLTO) Down 71% as Lung Disease Candidate Fails
Wednesday Aug 16 2023 at 09:28
Galecto’s (GLTO) shares fall as the mid-stage study of GB0139 to treat idiopathic pulmonary fibrosis fails to meet its primary endpoint.
Market Watch
Galecto shares drop 65% as biotech halts development of lung-disease treatment
Tuesday Aug 15 2023 at 08:39
Shares of Galecto Inc. GLTO dropped 65% in premarket trading Tuesday after the biotech company said it would drop an investigational treatment for idiopathic pulmonary fibrosis, a chronic lung disease. After the treatment, GB0139, failed to meet its primary trial endpoint, Galecto said it will discontinue development and focus instead on treatments for severe liver diseases.
Reuters
Galecto to discontinue development of lung disease treatment
Tuesday Aug 15 2023 at 07:55
Drug developer Galecto said on Tuesday it will discontinue development of its lung disease treatment after it failed to meet its primary goal in a mid-stage study.
GuruFocus
ORBIMED ADVISORS LLC Reduces Stake in Galecto Inc
Thursday Jul 27 2023 at 22:02
On July 25, 2023, ORBIMED ADVISORS LLC (Trades, Portfolio), a renowned investment firm, reduced its stake in Galecto Inc, a clinical-stage biotechnology company based in Denmark. This article provides an in-depth analysis of the transaction, the profiles of both ORBIMED ADVISORS LLC (Trades, Portfolio) and Galecto Inc, and the potential implications of this move on their respective portfolios.
GlobeNewsWire
Galecto to Present at the Upcoming Jefferies Healthcare Conference
Tuesday May 30 2023 at 08:00
BOSTON, May 30, 2023 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a clinical-stage biotechnology company and world leader in galectin biology focused on the development of novel treatments for fibrosis and cancer, today announced that Hans Schambye, M.D., Ph.D. will present at the Jefferies Healthcare Conference being held in New York, NY from June 7-9, 2023. Management will also be available for one-on-one meetings.
GlobeNewsWire
Galecto to Present Two Posters at AACR Annual Meeting 2023
Thursday Apr 13 2023 at 08:30
BOSTON, April 13, 2023 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a clinical-stage biotechnology company and world leader in galectin biology focused on the development of novel treatments for fibrosis and cancer, today announced it will present two posters at the upcoming American Association for Cancer Research (AACR) Annual Meeting 2023, taking place April 14-19 in Orlando, Florida.
24/7 Wall Street
Orbimed Advisors Now Owns 10.5% of Galecto
Monday Apr 10 2023 at 22:21
Fintel reports that Orbimed Advisors has filed a 13D/A form with the SEC disclosing ownership of 2.70MM shares of Galecto Inc (GLTO).
Zacks Investment Research
All You Need to Know About Galecto, Inc. (GLTO) Rating Upgrade to Strong Buy
Friday Nov 11 2022 at 13:33
Galecto, Inc. (GLTO) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
GlobeNewsWire
Galecto to Present Topline Data from GULLIVER-2 Clinical Trial Showing GB1211 Reduced Signs of Liver Impairment at AASLD’s The Liver Meeting® 2022
Monday Oct 31 2022 at 08:00
BOSTON, Oct. 31, 2022 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a clinical-stage biotechnology company and a world leader in galectin biology focused on the development of novel treatments for fibrosis and cancer, today announced it will present data from its recently completed Phase 1b/2a GULLIVER-2 trial at the American Association for the Study of Liver Diseases’ (AASLD) The Liver Meeting 2022 being held in Washington, D.C. on November 4-8, 2022. GULLIVER-2 is a clinical trial designed to assess GB1211, an orally available and high-affinity small molecule carbohydrate-based galectin-3 inhibitor, for the treatment of severe liver diseases. Galectin-3 is a pro-fibrotic β-galactoside binding protein highly expressed in fibrotic livers and implicated in severe liver diseases.
GlobeNewsWire
Galecto to Host Virtual Investor Event and Webcast to Review Topline Data from GULLIVER-2 Trial on Tuesday, November 8, 2022
Monday Oct 17 2022 at 06:00
BOSTON, Oct. 17, 2022 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a clinical stage biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced that it will host a live conference call and webcast at 8:00 am ET on Tuesday, November 8, 2022 to review topline data from the Company’s Phase 1b/2a GULLIVER-2 trial for liver cirrhosis.
GlobeNewsWire
Galecto to Participate at H.C. Wainwright 24th Annual Global Investment Conference
Tuesday Sep 06 2022 at 08:30
BOSTON, Sept. 06, 2022 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a clinical stage biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced that management will be participating at the upcoming H.C. Wainwright’s 24th Annual Global Investment Conference taking place on September 12-14, 2022. Details for the event are as follows:
GlobeNewsWire
Galecto to Present New Data on Oral Galectin-3 Inhibitor GB1211 at the 2022 ASCO Annual Meeting
Thursday May 26 2022 at 08:30
Novel galectin-3-based mechanism of PD-1/PD-L1 checkpoint inhibitor resistance identified
GlobeNewsWire
Galecto to Present at Upcoming Investor Conferences
Tuesday Oct 26 2021 at 08:00
BOSTON, Oct. 26, 2021 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a clinical stage biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced that Galecto’s management team will be presenting virtually at the Credit Suisse Healthcare Conference and in-person at the Jefferies London Healthcare Conference. Galecto’s management team will be available for 1×1 meetings at both of these conferences. Details for the presentations are below:
GlobeNewsWire
Galecto to Present at 2021 Cantor Virtual Global Healthcare Conference
Wednesday Sep 15 2021 at 08:30
BOSTON, Sept. 15, 2021 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a clinical stage biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced that Hans Schambye, the Company’s Chief Executive Officer, will be presenting on Tuesday, September 28, 2021 at 8:40 AM ET and will be available for 1×1 meetings on the same date.
GlobeNewsWire
Galecto Announces First Patient Treated in Phase 2 Trial of Oral Galectin-3 Inhibitor GB1211 in Liver Cirrhosis
Monday Sep 13 2021 at 08:00
Galecto now has three ongoing Phase 2 clinical trials with three different drug candidates in three high value indications Galecto now has three ongoing Phase 2 clinical trials with three different drug candidates in three high value indications
GlobeNewsWire
Galecto Announces First Patient Treated in Phase 2a Trial of the Oral LOXL2 Inhibitor GB2064 in Myelofibrosis (the MYLOX-1 Trial)
Wednesday Aug 18 2021 at 08:00
BOSTON, Aug. 18, 2021 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced the treatment of the first patient in a Phase 2a trial of its oral LOXL2 inhibitor GB2064 in myelofibrosis. Myelofibrosis, a form of chronic leukemia, is a rare type of blood cancer in which the normal bone marrow is destroyed by fibrous scar tissue that does not produce blood cells.
GlobeNewsWire
Galecto Reports Second Quarter Operating and Financial Results
Thursday Aug 05 2021 at 08:30
BOSTON, Aug. 05, 2021 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a clinical stage biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced its operating and financial results for the quarter ended June 30, 2021.
GlobeNewsWire
Galecto’s GB0139 Shows Favorable Safety and Tolerability Profile with Promising Changes in Efficacy Markers in Hospitalized COVID-19 Patients
Tuesday Jun 22 2021 at 09:27
BOSTON and COPENHAGEN, Denmark, June 22, 2021 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a publicly listed, clinical stage biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced preliminary topline results from an investigator-initiated trial examining Galecto’s inhaled galectin-3 inhibitor (GB0139). This trial included 41 hospitalized patients with COVID-19 infection who did not require mechanical ventilation, of which 20 were randomized to the GB0139 arm.
Pulse2
GLTO Stock Price: 60% Increase Explanation
Thursday Jun 10 2021 at 22:18
The stock price of Galecto Inc (NASDAQ: GLTO) increased by 60% today. This is why it happened.
GlobeNewsWire
Galecto Reports First Quarter Financial Results and Provides a Corporate Update
Tuesday May 04 2021 at 08:30
BOSTON, May 04, 2021 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a clinical stage biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced its operating and financial results for the period ended March 31, 2021 and provided a corporate update.
Zacks Investment Research
Galecto (GLTO) Enters Oversold Territory
Monday Apr 19 2021 at 07:52
Galecto (GLTO) has been on a bit of a cold streak lately, but there might be light at the end of the tunnel for this overlooked stock
GlobeNewsWire
Galecto Reports Financial Results for the Year Ended December 31, 2020 and Provides a Corporate Update
Monday Mar 29 2021 at 08:30
BOSTON, March 29, 2021 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a clinical stage biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced its operating and financial results for the year ended December 31, 2020 and provided a corporate update.
GlobeNewsWire
UPDATE: Galecto Hosting Expert Perspective Panel on the Evolving Treatment Landscape for Idiopathic Pulmonary Fibrosis and Potential for GB0139
Tuesday Mar 23 2021 at 10:26
Tuesday, March 30, 2021 @ 2pm Eastern Time Tuesday, March 30, 2021 @ 2pm Eastern Time
GlobeNewsWire
Galecto Hosting Expert Perspective Panel on the Evolving Treatment Landscape for Idiopathic Pulmonary Fibrosis and Potential for GB0139
Tuesday Mar 23 2021 at 08:30
Tuesday, March 30, 2021 @ 2pm Eastern Time. Tuesday, March 30, 2021 @ 2pm Eastern Time.
GlobeNewsWire
Galecto Announces Outcome of Data Safety Monitoring Board Interim Review of Phase 2b GALACTIC-1 Study of GB0139 for Idiopathic Pulmonary Fibrosis: DSMB Recommends Study to Continue with Modifications
Monday Mar 15 2021 at 07:30
Galecto expects to continue dosing patients in the 3 mg arm, whereas the 10 mg arm and combinations with nintedanib or pirfenidone will be discontinued at the recommendation of the DSMB Galecto expects to continue dosing patients in the 3 mg arm, whereas the 10 mg arm and combinations with nintedanib or pirfenidone will be discontinued at the recommendation of the DSMB
GlobeNewsWire
Galecto to Present at Upcoming Investor Conferences
Tuesday Feb 09 2021 at 08:00
BOSTON, Feb. 09, 2021 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced Hans Schambye, the Company’s Chief Executive Officer, will participate in multiple upcoming investor conferences. Dr. Schambye and Jon Freve, the Company’s Chief Financial Officer, will be available for 1×1 meetings with investors at all meetings. Details are as follows:
GlobeNewsWire
Galecto Appoints Anne Prener to its Board of Directors
Friday Jan 08 2021 at 08:00
BOSTON, Jan. 08, 2021 (GLOBE NEWSWIRE) — Galecto, Inc., (NASDAQ: GLTO) a NASDAQ listed biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced the appointment of Dr. Anne Prener to its Board of Directors.
GlobeNewsWire
Galecto to Take Part in Two Panel Discussions at the LifeSci Partners 10th Annual Healthcare Corporate Access Event
Monday Jan 04 2021 at 16:01
BOSTON, Jan. 04, 2021 (GLOBE NEWSWIRE) — Galecto, Inc. (NASDAQ: GLTO), a NASDAQ listed biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced that Hans Schambye, Chief Executive Officer, will participate in two panel discussions at the LifeSci Partners 10th Annual Healthcare Corporate Access Event, which is being held virtually from January 6-8 and 11-14.
GlobeNewsWire
Galecto Reports Third Quarter 2020 Operating & Financial Results and Provides a Corporate Update
Friday Dec 11 2020 at 08:06
Successfully completed listing on US Nasdaq and raised over $ 150 million during recent IPO and preceding crossover round
GlobeNewsWire
Galecto Publishes GB0139 Phase 2a Idiopathic Pulmonary Fibrosis (IPF) Results in European Respiratory Journal, Showing Marked Impact on Several IPF Biomarkers
Monday Nov 30 2020 at 08:00
BOSTON and COPENHAGEN, Denmark, Nov. 30, 2020 (GLOBE NEWSWIRE) — Galecto, Inc., a NASDAQ listed biotechnology company focused on the development of novel treatments for fibrosis and cancer, announced today the publication of a paper detailing full results from a phase 2a study of GB0139 in Idiopathic Pulmonary Fibrosis (IPF) in the peer-reviewed publication European Respiratory Journal.
Galecto Bankruptcy Risk
The Altman Z-score is a formula that measures a company’s financial health and bankruptcy risk. It assigns a numerical score based on various financial ratios. The Z-score is divided into different zones. If the Z-score is above 2.99, it indicates a lower bankruptcy risk, classifying the company as ‘safe’ or ‘non-distressed’. If the score falls below 1.81, it suggests a higher risk, indicating potential financial distress or bankruptcy. The range between 1.81 and 2.99 is called the ‘gray zone’ or zone of ambiguity.
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Galecto’s Altman Z-score is -7.13 which is in the distress zone. This indicates a higher risk of financial distress and potential bankruptcy for the company. It can serve as a warning sign of significant financial challenges, requiring careful consideration by potential investors.
Derived from SEC.GOV filing dataopen_in_new
Galecto Insider Trading
Insider trading is when individuals employed by a company buy or sell its securities following legal procedures and regulations. Company executives, directors, and employees may be permitted to buy or sell shares if they follow specific rules, such as filing a Form 4 with the SEC within two business days.
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Over the last 3 months, 1 insider has sold $617.01K of common stock in Galecto on the stock market with no insider buying.
Derived from SEC.GOV filing dataopen_in_new
Debt & Income Analysis
Income quality measures a company’s operating cash flow to net income ratio. It helps investors and analysts assess the sustainability of a company’s earnings. A high QIR indicates strong cash flows, while a low QIR may indicate non-operating activities driving net income.
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Galecto’s Income Quality of 0.8 is greater than its Industry Group of 0.69 (15.9% greater)
Galecto’s Income Quality of 0.8 is greater than its Major Industry Group of 0.71 (12.7% greater)
Galecto’s Income Quality of 0.8 is in line with its Sector of 0.75 (6.7% greater)
Derived from SEC.GOV filing dataopen_in_new
Current ratio measures a company’s ability to pay off short-term debt with its current assets (assets that a company expects to use up or convert to cash within a year). It represents the $ amount of current assets a company has for every $1 of short-term debt. A high current ratio above 1.0 indicates that a company can meet its short-term obligations, while a low current ratio below 1.0 suggests difficulty.
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Galecto’s Current Ratio of 3.72 is lower than its Industry Group of 4.76 (-21.8% lower)
Galecto’s Current Ratio of 3.72 is lower than its Major Industry Group of 4.32 (-13.9% lower)
Galecto’s Current Ratio of 3.72 is greater than its Sector of 2.6 (43.1% greater)
Derived from SEC.GOV filing dataopen_in_new
Value Analysis
PE ratio (price-to-earnings), measures a company’s stock price relative to its earnings per share. It helps investors evaluate whether its stock is overvalued or undervalued. A higher PE ratio indicates that investors are willing to pay more for a company’s earnings, while a lower PE ratio (above zero) suggests the company could be undervalued.
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Cannot compare a negative PE Ratio (-0.34 & -1.27)
Cannot compare a negative PE Ratio (-0.34 & -1.1)
Cannot compare a negative PE Ratio (-0.34 & -0.4)
Derived from SEC.GOV filing dataopen_in_new
The PB ratio (price-to-book), measures a company’s stock price relative to its book value (net value of a company’s assets reported on its balance sheet, after subtracting debt) per share. It is used to evaluate a company’s valuation, with a lower PB ratio (above zero) indicating a lower valuation and a higher PB ratio suggesting overvaluation.
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Galecto’s PB Ratio of 0.4 is lower than its Industry Group of 1.34 (-70.1% lower)
Galecto’s PB Ratio of 0.4 is lower than its Major Industry Group of 1.4 (-71.4% lower)
Galecto’s PB Ratio of 0.4 is lower than its Sector of 1.62 (-75.3% lower)
Derived from SEC.GOV filing dataopen_in_new
Efficiency Analysis
ROE (Return on Equity), is a financial ratio that measures a company’s profitability relative to its shareholders’ equity (the amount of value in a company that belongs to the people who own shares). It indicates how efficiently a company generates profits per unit of equity invested. A high ROE suggests effective use of equity, while a low ROE indicates inefficiency.
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Galecto’s ROE of -1.18 is lower than its Industry Group of -0.44 (-168.2% lower)
Galecto’s ROE of -1.18 is lower than its Major Industry Group of -0.38 (-210.5% lower)
Galecto’s ROE of -1.18 is lower than its Sector of -0.03 (-3833.3% lower)
Derived from SEC.GOV filing dataopen_in_new
ROCE (Return on Capital Employed), is a financial ratio that measures a company’s profitability relative to the amount of capital invested in its operations. It indicates how well a company is generating profits from its capital investments. A high ROCE suggests effective use of capital, while a low ROCE indicates inefficiency.
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Galecto’s ROCE of -1.18 is lower than its Industry Group of -0.42 (-181.0% lower)
Galecto’s ROCE of -1.18 is lower than its Major Industry Group of -0.37 (-218.9% lower)
Galecto’s ROCE of -1.18 is lower than its Sector of -0.04 (-2850.0% lower)
Derived from SEC.GOV filing dataopen_in_new