Galecto Announces Proposed Underwritten Public Offering of Common Stock and Preferred Stock

Core Viewpoint - Galecto, Inc. has initiated an underwritten public offering of its common stock and Series C non-voting convertible preferred stock to support its therapeutic development for blood cancers [1][2]. Group 1: Offering Details - The public offering includes common stock and Series C preferred stock, with the latter convertible into 1,000 shares of common stock at the holder's discretion [1]. - Galecto plans to grant underwriters a 30-day option to purchase additional shares of common stock [1]. - The offering is subject to market conditions, and there is no assurance regarding its completion or terms [1]. Group 2: Use of Proceeds - Proceeds from the offering will be utilized for preclinical studies, clinical trials, manufacturing for antibody programs, and additional research and development activities [2]. - Funds will also support working capital and general corporate purposes [2]. Group 3: Management and Registration - Jefferies, Leerink Partners, Evercore ISI, and Guggenheim Securities are acting as joint book-running managers for the offering [3]. - An automatically effective shelf registration statement was filed with the SEC on February 10, 2026, and the offering will be conducted via a written prospectus [4]. Group 4: Company Overview - Galecto, Inc. is a clinical-stage biotechnology company focused on developing antibody therapeutics for hematological cancers [6]. - The company's pipeline includes a mutant calreticulin-driven myeloproliferative neoplasm portfolio and GB3226, a preclinical dual inhibitor for acute myeloid leukemia [6].