Galecto (GLTO) Company Report

Galecto, Inc. announced the acquisition of Damora Therapeutics, integrating a mutCALR portfolio aimed at myeloproliferative neoplasms, and concurrently completed a $285 million private placement.
The proceeds from the private placement are expected to provide a cash runway into 2029, funding the advancement of the Damora pipeline, including the lead program DMR-001.
The lead program, DMR-001, an anti-mutCALR mAb, is anticipated to have two clinical proof-of-concept readouts by mid-2027.
As of January 9, 2026, Galecto's total capitalization (common, as converted) was 61,851,334 shares, resulting in a market capitalization of $1.27 billion at a closing price of $20.50 per share.

Jan 12, 2026, 1:00 PM

Galecto, Inc. Appoints New COO and Issues Warrant

GLTO

Management Change

Executive Compensation

New Projects/Investments

Galecto, Inc. appointed Sherwin Sattarzadeh as Chief Operating Officer, effective January 5, 2026.
Mr. Sattarzadeh's compensation includes an annual base salary of $540,000 and eligibility for an annual performance bonus targeted at 40% of his base salary.
He will also receive an initial equity award consisting of 190,376 restricted stock units and 444,209 non-qualified stock options, both vesting over four years.
On December 31, 2025, Galecto, Inc. issued a warrant to Paramora Holding LLC to purchase up to 628,302 shares of common stock at an exercise price of $23.01 per share, expiring on December 31, 2035.

Jan 6, 2026, 1:15 PM

Galecto Acquires Demora Therapeutics and Secures Financing

GLTO

M&A

New Projects/Investments

Galecto Incorporated acquired Demora Therapeutics, significantly expanding its pipeline to include Demora's portfolio of anti-mutant calreticulin targeted therapies for myeloproliferative neoplasms (MPNs).
An oversubscribed private financing raised over $285 million, which is expected to fund the combined company's lead programs for more than a year beyond key Phase 1 proof of concept data anticipated in 2027.
The lead asset, DMR 001, a potential best-in-class anti-mutant calreticulin antibody, is planned for an IND submission in mid-2026, with first-in-human trials expected to begin by mid-2026 and clinical proof of concept readouts starting mid-2027.
The target market for calreticulin mutant MPNs represents a potential $5 billion-plus opportunity in the U.S. alone, affecting over 42,000 patients.

Nov 10, 2025, 1:00 PM

Galecto Reports Third Quarter 2025 Financial and Operational Results

GLTO

Earnings

Guidance Update

New Projects/Investments

Galecto reported cash and cash equivalents of approximately $7.6 million as of September 30, 2025, which is anticipated to fund the preclinical development of GB3226 into 2026.
For the three months ended September 30, 2025, research and development expenses were $1.4 million, and general and administrative expenses were $1.7 million.
The net loss attributable to common stockholders for the quarter ended September 30, 2025, was $3.1 million, or $(2.36) per basic and diluted share.
The company received constructive regulatory guidance from the FDA for its GB3226 program and plans to submit an Investigational New Drug (IND) application in the first quarter of 2026 to initiate a Phase 1 trial in Acute Myeloid Leukemia (AML).

Nov 6, 2025, 9:30 PM

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