Galecto

Galecto, Inc. operates as a clinical-stage biotechnology company developing therapeutics which are designed to target the biological processes to treat fibrotic and related diseases including cancer. Its product portfolio includes GB0139, GB1211, GB2064, and GB1211. The company was founded by Ulf Nilsson, Hakon Leffler, Tariq Sethi, and Hans T. Schambye in 2011 and is headquartered in Boston, MA.

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Galecto, Inc. is a clinical-stage biotechnology company, which engages in developing novel small molecule therapeutics that are designed to target the biological processes that lie at the heart of cancer and fibrotic diseases. The firm is also involved in the development of small molecule inhibitors of galectin-3, lysyl oxidase-like 2, and LOXL2. The company was founded by Ulf Jörgen Nilsson, Hakon Leffler, Tariq Sethi, and Hans Thalsgård Schambye in 2011 and is headquartered in Boston, MA.

Galecto (GLTO) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.

Galecto (GLTO) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now

-  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 period for Galecto highlighted by the completion of a strategic review to prioritize oncology and liver diseases and subsequent acquisition of BRM-1420, a novel, dual ENL-YEATS, and FLT3 inhibitor for multiple genetic subsets of acute myeloid leukemia (AML) that further strengthens our existing portfolio of first-in-class small molecule agents,” said Dr. Hans Schambye, CEO of Galecto.

Galecto Reports Third Quarter 2024 Financial Results

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.

Galecto Strengthens Board of Directors with Appointment of Dr. Amy Wechsler

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 focus on cancer and liver disease, leveraging its existing clinical stage asset GB1211, which has shown positive results in non-small cell lung cancer (NSCLC) and decompensated cirrhosis clinical studies. Galecto further announced that it has bolstered its pipeline with the acquisition of the global rights to BRM-1420, a novel, first-in-class asset developed by Bridge Medicines, a company co-founded by Takeda.

Galecto Completes Strategic Review to Focus on Oncology and Liver Disease and Acquires Acute Myeloid Leukemia Preclinical Asset from Bridge Medicines

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, August 30, 2024, the company's common stock will trade on the Nasdaq Capital Market on a split-adjusted basis under the existing symbol “GLTO” and a new CUSIP number 36322Q 206.

Galecto Announces Reverse Stock Split

An NCI-supported Phase 2 investigator-initiated trial at the Providence Cancer Institute in Portland, Oregon, has enrolled its first patient in a study exploring the combination of pembrolizumab (Keytruda®) and Galecto's GB1211, an oral galectin-3 inhibitor, in patients with metastatic melanoma and head and neck squamous cell carcinoma An NCI-supported Phase 2 investigator-initiated trial at the Providence Cancer Institute in Portland, Oregon, has enrolled its first patient in a study exploring the combination of pembrolizumab (Keytruda®) and Galecto's GB1211, an oral galectin-3 inhibitor, in patients with metastatic melanoma and head and neck squamous cell carcinoma

Galecto Announces First Patient Dosed in an Investigator-Initiated Phase 2 Trial of GB1211 in Combination with Pembrolizumab

Galecto, Inc. (GLTO) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Galecto, Inc. (GLTO) Upgraded to Strong Buy: What Does It Mean for the Stock?

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GLTO, LUMN, MORF, SFST and STOK have been added to the Zacks Rank #1 (Strong Buy) List on February 14, 2023.

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What Makes Galecto, Inc. (GLTO) a New Strong Buy Stock

Six of ten evaluable myelofibrosis patients who received GB2064 monotherapy for at least six months experienced a ≥ 1-grade reduction in collagen fibrosis of the bone marrow, validating LOXL2 as a clinical fibrosis target Six of ten evaluable myelofibrosis patients who received GB2064 monotherapy for at least six months experienced a ≥ 1-grade reduction in collagen fibrosis of the bone marrow, validating LOXL2 as a clinical fibrosis target

Topline Results from MYLOX-1 Trial Demonstrate Reduction in Fibrosis of the Bone Marrow in Patients with Myelofibrosis

Partial response seen in three of five patients with advanced non-small cell lung cancer who received GB1211 100 mg plus atezolizumab for at least three weeks Partial response seen in three of five patients with advanced non-small cell lung cancer who received GB1211 100 mg plus atezolizumab for at least three weeks

Galecto Presents Updated Clinical Data at ESMO Congress 2023 and Provides Update on Phase 1b/2a GALLANT-1 Trial

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.

Galecto Announces Plans to Explore Strategic Alternatives

Galectin Therapeutics

Galecto Biotech's stock has plummeted 75% due to increased rates of adverse events in its idiopathic pulmonary fibrosis (IPF) trial. Galecto's synthetic, small molecule approach to galectin-3 inhibition may be causing poor tolerability and negative clinical outcomes. Galectin Therapeutics' belapectin, a galectin-3 inhibitor in a phase 3 trial for NASH cirrhosis, is a better value proposition with a strong financial backer and excellent safety profile.

Galecto Biotech Collapse: Opportunity For Galectin Therapeutics

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.

Galecto to Present at Investor Conferences in September

Galecto's (GLTO) shares fall as the mid-stage study of GB0139 to treat idiopathic pulmonary fibrosis fails to meet its primary endpoint.

Galecto (GLTO) Down 71% as Lung Disease Candidate Fails

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.

Galecto shares drop 65% as biotech halts development of lung-disease treatment

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.

Galecto to discontinue development of lung disease treatment

Announces next steps for clinical development plan in severe liver diseases Announces next steps for clinical development plan in severe liver diseases

Galecto Announces Topline Results from Phase 2b GALACTIC-1 Trial of GB0139 for the Treatment of Idiopathic Pulmonary Fibrosis

BOSTON, July 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 its operating and financial results for the quarter ended June 30, 2023.

Galecto Reports Second Quarter Operating and Financial Results

BOSTON, June 20, 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 it is set to join the Russell Microcap Index at the conclusion of the 2023 Russell index annual reconstitution, effective after the U.S. market opens on Monday, June 26, 2023, according to the preliminary list of Russell Microcap additions posted on June 16, 2023.

Galecto Set to Join Russell Microcap® Index

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.

Galecto to Present at the Upcoming Jefferies Healthcare Conference

BOSTON, May 23, 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 the last dosing of the last patient in the GALACTIC-1 Phase 2b trial of its most advanced product candidate, GB0139, for the treatment of idiopathic pulmonary fibrosis (IPF).

Galecto Completes Dosing in 52-Week Phase 2b GALACTIC-1 Trial of GB0139 in Idiopathic Pulmonary Fibrosis

BOSTON, May 17, 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 a poster at the upcoming ATS 2023 International Conference taking place on May 19-24 in Washington, D.C. The poster shows new data on GB0139 in idiopathic pulmonary fibrosis (IPF) patient-derived lung samples.

Galecto to Present Poster at Upcoming ATS 2023 International Conference

BOSTON, April 28, 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 its operating and financial results for the quarter ended March 31, 2023.

Galecto Reports First Quarter Operating and Financial Results

Galecto: Promising Pipeline And Excellent Risk-Reward

News for Galecto Stock (GLTO)