Galecto, Inc., a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases. The company's lead product candidate is GB0139, an inhaled inhibitor of galectin-3 that is in Phase IIb clinical trial for the treatment of severe fibrotic lung diseases, such as idiopathic pulmonary fibrosis, a life-threatening progressive fibrotic disease of the lung. Its products also comprise GB2064, which is in Phase I/IIa for the treatment of myelofibrosis; and GB1211, a selective oral galectin-3 inhibitor that is in Phase I/IIa for the treatment of cancer and fibrosis. Galecto, Inc. was founded in 2011 and is headquartered in Copenhagen, Denmark.
IPO Year: 2020
Exchange: NASDAQ
Website: galecto.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/6/2021 | $12.00 → $7.00 | Outperform | Credit Suisse |
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- Completed strategic review to focus on oncology and severe liver diseases - Announced acquisition of global rights to BRM-1420, a dual ENL-YEATS and FLT3 inhibitor for multiple genetic subsets of AML from Bridge Medicines - Appointed Dr. Amy Wechsler to the Board of Directors and Matthew Kronmiller as Executive Vice President of Strategy and Chief Business Officer BOSTON, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a clinical-stage biotechnology company focused on the development of novel treatments for cancer and severe liver diseases, today reported financial results for the third quarter ended September 30, 2024. "The third quarter was a pivotal perio
BOSTON, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a clinical-stage biotechnology company focused on the development of novel treatments for cancer and fibrosis, today announced the appointment of Dr. Amy Wechsler to its Board of Directors. Dr. Wechsler brings a unique combination of expertise and a proven track record of leadership in the healthcare industry. "We are thrilled to welcome Dr. Wechsler to our Board of Directors," said Dr. Carl Goldfischer, Chair of the Board of Galecto. "Amy is a distinguished physician who has board certification in both dermatology and psychiatry. Her experience guiding companies through critical growth stages make her an important add
Galecto will focus on cancer and liver disease, leveraging existing clinical stage asset GB1211Bolsters pipeline by obtaining global rights to BRM-1420, a novel dual ENL-YEATS and FLT3 inhibitor for multiple genetic subsets of acute myeloid leukemia (AML)BRM-1420 has the potential for enhanced clinical effectiveness compared to FLT3 inhibitors alone and has shown synergistic effects with SOC in preclinical models BOSTON, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a clinical-stage biotechnology company focused on the development of novel treatments for cancer and fibrosis, today announced that, following an intensive strategic review process, Galecto has determined to f
BOSTON, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a clinical-stage biotechnology company focused on the development of novel treatments for cancer and fibrosis, today announced that it will implement a 1-for-25 Reverse Stock Split of its common stock (the "Reverse Stock Split"), effective at 5:00 p.m. Eastern Time on Thursday, August 29, 2024. The Reverse Stock Split, which was approved by shareholders at the company's Annual Meeting of Stockholders on June 20, 2024, is primarily intended to bring the company into compliance with the minimum bid price requirement for maintaining its listing on The Nasdaq Capital Market. Beginning with the opening of trading on Friday,
BOSTON, May 01, 2024 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a clinical-stage biotechnology company focused on the development of novel treatments for cancer and fibrosis, today announced that the first patient has been enrolled in an investigator-initiated Phase 2 trial to evaluate GB1211, Galecto's first-in-class, oral small molecule galectin-3 inhibitor candidate, at the Earle A. Chiles Research Institute (EACRI), a division of Providence Cancer Institute in Portland, Oregon, USA. Under the direction of Providence investigators Dr. Brendan Curti and Dr. William Redmond, the study aims to evaluate the safety and efficacy of GB1211 at a dose of 100mg twice daily in combination wi
BOSTON, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a clinical stage biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced positive topline results from a Phase 2a trial of GB2064 for the treatment of myelofibrosis (the "MYLOX-1 trial", NCT04679870). The MYLOX-1 trial dosed a total of 18 myelofibrosis patients, of which 11 (61%) patients had previously received janus kinase inhibitor (JAKi) therapy with ruxolitinib, with eight of those patients being refractory and three being intolerant to JAKi therapy. Six out of ten evaluable myelofibrosis patients who received GB2064 monotherapy for at least six months experien
BOSTON, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a clinical-stage biotechnology company focused on the development of novel treatments for fibrosis and cancer, today presented a poster with new and encouraging clinical data, including two additional partial responders, from the dose-finding Part A of its Phase 1b/2a trial (NCT05240131) (the GALLANT-1 trial) at the European Society of Medical Oncology (ESMO) Congress 2023 in Madrid, Spain. The GALLANT-1 trial is designed to study the combination of atezolizumab (Tecentriq®) and GB1211, Galecto's first-in-class, oral small-molecule galectin-3 inhibitor candidate, in the first-line treatment of patients with metastatic/a
BOSTON, Sept. 26, 2023 (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 has completed a review of its business, including the status of its programs, resources, and capabilities. Galecto has made the determination to conduct a comprehensive exploration of strategic alternatives focused on maximizing shareholder value. As part of this evaluation process, Galecto will explore potential strategic alternatives that may include, but are not limited to, an acquisition, merger, business combination, divestiture of its assets, technologies or capabilities, or othe
BOSTON, Aug. 31, 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., President and Chief Executive Officer of Galecto, will participate in the following September 2023 conferences. Management will also be available for one-on-one meetings. H.C. Wainwright 25th Annual Global Investment ConferenceDate:Monday, September 11, 2023Time:7:00 am ETLocation:New York City, NY Cantor Fitzgerald Annual Global Healthcare ConferenceDate:Wednesday, September 27, 2023Time:4:45 pm ETLocation:New York City, NY
BOSTON, Aug. 15, 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 topline results from its Phase 2b GALACTIC-1 trial evaluating the safety and efficacy of inhaled GB0139 for the treatment of idiopathic pulmonary fibrosis (IPF). The GALACTIC-1 trial did not meet its primary endpoint of change from baseline in rate of decline in forced vital capacity (FVC). Based on the results of the GALACTIC-1 trial, Galecto plans to discontinue development of GB0139. Going forward, Galecto will focus on development opportunities for th
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BOSTON, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a clinical-stage biotechnology company focused on the development of novel treatments for cancer and fibrosis, today announced the appointment of Dr. Amy Wechsler to its Board of Directors. Dr. Wechsler brings a unique combination of expertise and a proven track record of leadership in the healthcare industry. "We are thrilled to welcome Dr. Wechsler to our Board of Directors," said Dr. Carl Goldfischer, Chair of the Board of Galecto. "Amy is a distinguished physician who has board certification in both dermatology and psychiatry. Her experience guiding companies through critical growth stages make her an important add
BOSTON, Jan. 05, 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 the appointment of a highly experienced biotech and pharmaceuticals executive Stephanie Oestreich, PhD, MPA as Chief Business Officer, a newly-created position at Galecto. Dr. Oestreich joins Galecto from Mnemo Therapeutics where she served as Vice President of Operations and Head of Alliance Management. She previously held the role of Executive Vice President at Evotec, a biotech company focusing on developing and delivering new medicines, and has previously served in a number of senior roles
BOSTON, May 11, 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 Garrett Winslow has joined the Company as Senior Vice President, General Counsel. In this role, Mr. Winslow will lead the Company's legal, compliance and enterprise risk management functions, reporting to Hans Schambye, CEO. Garrett Winslow brings to Galecto over 15 years of experience working with public companies in the life sciences industry. Prior to joining Galecto, he served as the General Counsel of Spring Bank Pharmaceuticals. He was also a partner in the Corporate and Securitie
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. “We warmly welcome Anne to our Board. She will be a tremendous asset with her deep experience and exceptional leadership qualities,” said Hans Schambye, CEO of Galecto. “Anne brings to our Board a unique perspective after having served as CEO on several companies; she is an accomplished and seasoned executive, and we welcome her guidance.” Dr. Anne Prener noted, “I am delighted to join this dynamic company’s Board of Dir
Galecto will focus on cancer and liver disease, leveraging existing clinical stage asset GB1211Bolsters pipeline by obtaining global rights to BRM-1420, a novel dual ENL-YEATS and FLT3 inhibitor for multiple genetic subsets of acute myeloid leukemia (AML)BRM-1420 has the potential for enhanced clinical effectiveness compared to FLT3 inhibitors alone and has shown synergistic effects with SOC in preclinical models BOSTON, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a clinical-stage biotechnology company focused on the development of novel treatments for cancer and fibrosis, today announced that, following an intensive strategic review process, Galecto has determined to f
Statistically significant reductions observed in ALT, AST and GGT, supporting further development of GB1211 in severe liver diseasesFindings to be discussed in a conference call and virtual webinar today, November 8, 2022, at 8 a.m. ET BOSTON, Nov. 08, 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, announced it will discuss topline data and additional analyses from its recently completed Phase 1b/2a GULLIVER-2 trial (NCT05009680), including the observed statistically significant signs of liver protection, in a conference call and virt
Late-breaking oral and poster presentations include clinical and preclinical data related to GULLIVER-2 clinical trialGalecto to host a webinar at 8:00 a.m. ET on Tuesday, November 8, 2022 to discuss expanded topline data and analysis 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. G
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. Webcast InformationGalecto will host a live conference call and webcast at 8:00 am ET on Tuesday, November 8, 2022. Full details for the webcast are as follows: Date:November 8, 2022Time:8:00 am Eastern TimeU.S. Dial-in Number:1-877-704-4453Int'l Dial-in Number:1-201-389-0920Conference ID:13733763Webcast:Click
Continued pipeline progress with three potentially first-in-class product candidates Strong cash position with cash runway into 2H 2024 BOSTON, Feb. 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 its operating and financial results for the year ended December 31, 2021. "During 2021, we made significant progress with our pipeline as we advanced two additional product candidates, GB2064 for myelofibrosis and GB1211 for liver cirrhosis, to Phase 2 clinical testing. With these trials and our ongoing Phase 2b GALACTIC-1 trial for idiopathic pulmonary fibro
Announces clinical collaboration with Roche for first line NSCLC Remains on track with clinical data milestone timing BOSTON, Nov. 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 quarter ended September 30, 2021. "The third quarter continued to show strong execution by the Galecto team, as we initiated enrollment in two separate Phase 2 trials with different mechanisms of action – one focused on our oral galectin-3 inhibitor, GB1211, for the treatment of liver cirrhosis, and the other focused on our collagen-
Credit Suisse reiterated coverage of Galecto with a rating of Outperform and set a new price target of $7.00 from $12.00 previously
Credit Suisse resumed coverage of Galecto with a rating of Outperform and set a new price target of $12.00
Credit Suisse Group reiterated coverage of Galecto with a rating of Outperform and set a new price target of $12.00 from $29.00 previously
SVB Leerink reiterated coverage of Galecto with a rating of Outperform and set a new price target of $16.00 from $27.00 previously
Oppenheimer analyst Jay Olson maintains Galecto (NASDAQ:GLTO) with a Outperform and lowers the price target from $10 to $9.
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