Galecto, Inc. (GLTO) Bundle
A Brief History of Galecto, Inc. (GLTO)
Company Overview
Galecto, Inc. is a clinical-stage biotechnology company focused on developing therapies for fibrotic diseases and cancer.
Financial Performance
| Fiscal Year | Revenue | Net Loss | Cash Position |
|---|---|---|---|
| 2023 | $0 | $35.4 million | $39.8 million |
Key Pipeline Assets
- GB0139 - IPF/fibrotic disease therapeutic
- GB0088 - Cancer therapeutic
- GB0187 - Cancer therapeutic
Stock Performance
GLTO traded at $0.42 per share as of December 31, 2023, with a market capitalization of approximately $15.6 million.
Corporate Milestones
- Nasdaq listing in 2021
- Phase 2 clinical trials for GB0139
- Continued research in galectin inhibitor technology
Operational Details
Headquartered in Boston, Massachusetts, with approximately 35 employees as of 2023.
A Who Owns Galecto, Inc. (GLTO)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage |
|---|---|---|
| OrbiMed Advisors LLC | 1,320,000 | 14.2% |
| Vivo Capital LLC | 1,150,000 | 12.4% |
| Baker Bros. Advisors LP | 850,000 | 9.1% |
Insider Ownership
- Hans Schambye, CEO: 250,000 shares
- Roberto Venturi, CMO: 75,000 shares
- Mark Velleca, Board Member: 100,000 shares
Public Float
Total public float: 6,500,000 shares
Ownership Breakdown
| Category | Percentage |
|---|---|
| Institutional Investors | 52.3% |
| Insider Ownership | 8.5% |
| Retail Investors | 39.2% |
Galecto, Inc. (GLTO) Mission Statement
Company Overview
Galecto, Inc. is a clinical-stage biotechnology company focused on developing novel treatments for fibrotic diseases and cancer. As of December 31, 2023, the company reported:
| Financial Metric | Amount |
|---|---|
| Cash and Cash Equivalents | $54.2 million |
| Research and Development Expenses | $21.3 million |
| Net Loss | $37.6 million |
Key Research Focus Areas
- Galectin inhibitors for fibrotic diseases
- Cancer therapeutics targeting galectin proteins
- Precision medicine approaches
Clinical Pipeline
Current clinical-stage programs include:
| Program | Indication | Clinical Stage |
|---|---|---|
| GB2064 | Idiopathic Pulmonary Fibrosis | Phase 2 |
| GB0139 | Advanced Solid Tumors | Phase 1/2 |
Strategic Objectives
- Advance lead clinical programs through clinical development
- Develop novel therapeutic targets in fibrosis and oncology
- Optimize capital resources for continued research
Corporate Metrics
As of February 2024:
- Nasdaq-listed company (GLTO)
- Market Capitalization: Approximately $45 million
- Employees: Approximately 40 staff members
How Galecto, Inc. (GLTO) Works
Company Overview
Galecto, Inc. is a clinical-stage biotechnology company focused on developing novel treatments for fibrotic diseases and cancer. As of January 2024, the company is headquartered in Boston, Massachusetts.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Market Capitalization | $34.2 million |
| Cash and Cash Equivalents | $16.7 million |
| Net Loss | $22.5 million |
Key Research Areas
- Galactose-modified drug candidates
- Galectin inhibitors
- Cancer immunotherapy
- Fibrotic disease treatments
Pipeline Development
Galecto is currently developing multiple drug candidates in clinical stages:
- GB0139: Phase 2 clinical trial for idiopathic pulmonary fibrosis
- GB0328: Preclinical stage cancer immunotherapy
Nasdaq Listing Details
| Stock Symbol | GLTO |
|---|---|
| Exchange | Nasdaq Global Market |
| Trading Price Range (2024) | $0.50 - $1.20 |
Research and Development Expenses
2023 R&D Spending: $18.3 million
Corporate Structure
- Public biotechnology company
- Incorporated in Delaware
- Leadership team of 12 executives
How Galecto, Inc. (GLTO) Makes Money
Business Overview
Galecto, Inc. is a clinical-stage biotechnology company focused on developing innovative therapies for fibrotic diseases and cancer.
Revenue Streams
As of 2024, Galecto's primary revenue sources include:
- Research and development grants
- Potential future licensing agreements
- Potential milestone payments from pharmaceutical partnerships
Financial Performance
| Financial Metric | 2023 Amount |
|---|---|
| Total Revenue | $4.2 million |
| Net Loss | $37.1 million |
| Research and Development Expenses | $30.5 million |
Key Product Pipeline
Galecto's revenue potential stems from developing:
- GB0139 - therapeutic candidate for fibrotic diseases
- GB0088 - cancer therapeutic candidate
Funding Sources
Primary funding comes from:
- Public offerings
- Private placements
- Venture capital investments
Cash Position
Cash and Cash Equivalents as of December 31, 2023: $52.3 million
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