Galecto Announces Closing of Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares for Gross Proceeds of $316.3 Million

Company Overview - Galecto, Inc. is a clinical-stage biotechnology company focused on developing novel therapeutics for blood cancers, including a portfolio targeting essential thrombocythemia and myelofibrosis [5] - The company's pipeline features GB3226, a first-in-class preclinical dual inhibitor aimed at treating multiple genetic subsets of acute myeloid leukemia [5] Recent Financial Activity - Galecto announced the closing of an underwritten public offering of 16,644,737 shares of common stock at a public offering price of $19.00 per share, resulting in gross proceeds of approximately $316.3 million before expenses [1] - The offering included the full exercise of the underwriters' option to purchase an additional 2,171,052 shares [1] Underwriters and Registration - Jefferies, Leerink Partners, Evercore ISI, and Guggenheim Securities served as joint book-running managers for the offering [2] - An automatically effective shelf registration statement was filed with the SEC on February 10, 2026, and the offering was conducted via a written prospectus [3]