The price trend for Galecto, Inc. (GLTO) has been bearish lately and the stock has lost 5.8% over the past two weeks. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street an ...

-  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 ...

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. " ...

Core Insights - Galecto, Inc. is refocusing its strategy on cancer and liver disease, utilizing its clinical-stage asset GB1211, which has shown positive results in non-small cell lung cancer and decompensated cirrhosis studies [1][2] - The company has acquired global rights to BRM-1420, a novel dual ENL-YEATS and FLT3 inhibitor, which has demonstrated potential for enhanced clinical effectiveness in treating multiple genetic subsets of acute myeloid leukemia (AML) [1][2] - BRM-1420 has shown synergistic effects with standard-of-care therapies in preclinical models, addressing significant unmet medical needs in AML [1][5] Company Strategy - The strategic review concluded that focusing on GB1211 and acquiring complementary assets like BRM-1420 would maximize value and improve patient outcomes [2] - The acquisition of BRM-1420 involved issuing 62,594 shares of common stock and 160,562 shares of newly-issued Series A preferred stock convertible into common stock, representing approximately 12.8% of Galecto's common stock [2][3] Pipeline Development - Galecto plans to file an Investigational New Drug (IND) application for BRM-1420 in the US by late 2025 or early 2026, with subsequent clinical studies in AML patients [6] - The company continues to develop GB1211, which is currently in a Phase 2 trial in combination with pembrolizumab for treating unresectable or metastatic melanoma and recurrent or metastatic head and neck squamous cell carcinoma [7][8] - Galecto has decided not to advance its LOXL-2 inhibitor candidate GB2064 at this time as part of its strategic review [9] Product Details - BRM-1420 is a selective inhibitor targeting multiple genetic subsets of AML, showing potent activity in various cell lines and potential for superior efficacy compared to existing treatments [5] - The drug targets mutations that account for over 30% of the AML patient population, addressing significant treatment challenges [5]

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 inten ...

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 dire ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Securities registered pursuant to Section 12(b) of the Act: | | Trading | | | --- | --- | --- | | Title of each class | Symbo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39655 GALECTO, INC. (Exact name of Registrant as specified in its Charter) Delaware 37-1957007 (State or other jurisdiction of incor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 | Delaware | 37-1957007 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | Ole Maaloes Vej 3 | | | DK-2200 Copenhagen N | | | Denmark | N/A | | 75 State Street, Suite 100 | | | Boston, MA 02109 | 02109 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File Number: 001-39655 GALECTO, INC. (Exact Name of Registrant as Specified in its Charter) | Delaware | 37-1957007 ...