Welcome to our dedicated page for Galecto news (Ticker: GLTO), a resource for investors and traders seeking the latest updates and insights on Galecto stock.
Galecto, Inc. (GLTO) is a clinical-stage biotechnology company at the forefront of developing innovative treatments for fibrosis and cancer. Founded in Lund, Sweden, and now incorporated in the U.S., Galecto focuses on small-molecule inhibitors targeting galectin-3 and lysyl oxidase-like 2 (LOXL2), proteins integral to the pathology of fibrosis and various cancers.
The company's lead product candidates include GB0139, GB1211, and GB2064. GB0139, initially developed for idiopathic pulmonary fibrosis (IPF), has shown promising preclinical results but recently failed to meet its primary endpoint in the Phase 2b GALACTIC-1 trial. Consequently, Galecto will discontinue its development and redirect resources.
GB1211, a selective oral galectin-3 inhibitor, targets severe liver diseases like non-alcoholic steatohepatitis (NASH) and liver cirrhosis. Encouraging results from the GULLIVER-2 trial underscored significant biomarker improvements and a favorable safety profile, setting the stage for the upcoming Phase 2a GULLIVER-3 trial in early 2024.
GB2064, an oral LOXL2 inhibitor, is in Phase 2a trials for myelofibrosis. Preliminary data indicate significant reductions in bone marrow fibrosis, validating the compound’s potential as a disease-modifying therapy.
Galecto's strategic partnerships and collaborations with top-tier scientists and biotech executives position it well for future growth. The company is also exploring GB1211's potential in oncology, specifically in combination with checkpoint inhibitors to overcome treatment resistance in cancers like non-small cell lung cancer (NSCLC) and melanoma.
With approximately $49 million in cash and investments, Galecto aims to extend its cash runway into 2025, focusing on advancing its promising pipeline of orally administered compounds.
For the latest updates and detailed information about Galecto, visit their website at www.galecto.com.
Galecto, Inc. (NASDAQ: GLTO) announced a webinar on March 30, 2021, at 2 PM ET, discussing the treatment landscape for idiopathic pulmonary fibrosis (IPF) and the potential of GB0139. Key Opinion Leader Toby Maher, MD, will present insights on unmet patient needs and recent biomarker data for GB0139, an inhalable treatment for IPF currently in phase 2b trials. CEO Hans Schambye will update on GB0139's progress, with a Q&A session featuring key medical officers. The session will be archived for 30 days for later viewing.
Galecto, Inc. (NASDAQ: GLTO) has announced an expert panel webinar focusing on idiopathic pulmonary fibrosis (IPF) treatment on March 30, 2021. Renowned KOL Toby Maher, MD, will discuss unmet needs in IPF treatments and share promising biomarker data on Galecto's inhalable treatment, GB0139, which is in a phase 2b trial. CEO Hans Schambye will also provide updates on GB0139’s trial modifications. The session aims to address the evolving treatment landscape for IPF, enhancing patient care understanding. Registration is available online.
Galecto, Inc. (NASDAQ: GLTO) announced that the independent Data Safety Monitoring Board (DSMB) recommended discontinuing the 10 mg dosing arm and combination treatments in its Phase 2b GALACTIC-1 study of GB0139 for Idiopathic Pulmonary Fibrosis (IPF). However, patient enrollment in the 3 mg arm without concurrent treatments will continue. The DSMB noted an imbalance in serious adverse experiences but no mortality differences. Galecto plans additional trials this year and anticipates initial data from GALACTIC-1 in 2022.
BOSTON, Feb. 09, 2021 – Galecto, Inc. (NASDAQ: GLTO) announced that CEO Hans Schambye will participate in several upcoming investor conferences. Events include the SVB Leerink 10th Annual Global Healthcare Conference on February 24, the Credit Suisse London Global Healthcare Conference from March 2-4, and the Oppenheimer 31st Annual Healthcare Conference on March 16. Both Schambye and CFO Jon Freve will be available for one-on-one meetings with investors. Presentations will be webcasted, and recordings will be accessible for 30 days post-event.
Galecto, Inc. (NASDAQ: GLTO) announced the appointment of Dr. Anne Prener to its Board of Directors. With over 25 years of leadership experience, Dr. Prener has served as CEO of multiple biotech firms, including Imbria Inc. and Freeline Ltd. CEO Hans Schambye expressed confidence in her ability to contribute significantly to Galecto's vision, particularly in advancing its pipeline for fibrosis and cancer treatments. Galecto's lead candidate is currently in a phase 2b trial for idiopathic pulmonary fibrosis (IPF).
Galecto, Inc. (NASDAQ: GLTO) announced CEO Hans Schambye's participation in two panel discussions at the LifeSci Partners 10th Annual Healthcare Corporate Access Event, scheduled from January 6-8 and 11-14, 2021. The discussions include 'Most Promising Novel Oncology Targets in Development' on January 7 at 8:00 AM EST and 'EU Companies IPO-ing in the US' at 10:00 AM EST. Investors can pre-register for the discussions and also schedule 1:1 meetings with the management team to learn about Galecto's pipeline and advancements in fibrosis and cancer treatments.
Galecto achieved significant milestones, including a successful IPO, raising over $150 million on Nasdaq under the ticker GLTO. The company plans to use these funds to prepare for potential EU conditional approval of its lead candidate, GB0139, for Idiopathic Pulmonary Fibrosis (IPF), and to initiate multiple Phase 2 clinical trials. Recent Phase 2a results demonstrated that GB0139 significantly impacted key IPF biomarkers. Additionally, GB0139 received Orphan Drug Designation from both the FDA and EMA, enhancing its development prospects.
Galecto announced significant findings from a Phase 2a study of inhaled GB0139 for treating Idiopathic Pulmonary Fibrosis (IPF). Published in the European Respiratory Journal, the study showed notable reductions in plasma biomarkers linked to IPF mortality, including YKL-40 and CCL-18, especially in the 10 mg dose group compared to placebo. GB0139, which has Orphan Drug Designation from both the FDA and EMA, is now being tested in a 450-patient, 52-week Phase 2b/3 trial, GALACTIC-1, aiming to confirm its efficacy and safety.
Galecto, Inc. (NASDAQ: GLTO) announced that Jayson Dallas has joined its Board of Directors, effective November 19. Dallas brings extensive experience from both pharma and biotech sectors, including his role as CEO of Aimmune Therapeutics. His background includes senior positions at Pfizer, Novartis, and Roche. Following a successful IPO, Galecto aims to advance its GB0139 product candidate and initiate three Phase 2 trials for other candidates shortly. The leadership change is expected to enhance the company's growth trajectory and clinical development efforts.
Galecto, Inc. (NASDAQ: GLTO) announced the pricing of its initial public offering, offering 5,666,667 shares at $15.00 each, aiming for gross proceeds of approximately $85.0 million. The shares will trade on the Nasdaq Global Market starting October 29, 2020. The offering closes on November 2, 2020, subject to usual conditions. An additional 850,000 shares may also be purchased by underwriters within 30 days. BofA Securities, SVB Leerink, and Credit Suisse are leading the offering, as Galecto focuses on therapeutics for fibrotic diseases and cancer.
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