GLTO Galecto Inc.

4.29
-0.07  -2%
Previous Close 4.36
Open 4.32
52 Week Low 4.03
52 Week High 17.99
Market Cap $108,373,259
Shares 25,261,832
Float 19,593,903
Enterprise Value $766,587
Volume 33,079
Av. Daily Volume 1,502,777
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Upcoming Catalysts

Drug Stage Catalyst Date
GB0139 (GALACTIC-1)
Idiopathic pulmonary fibrosis (IPF)
Phase 2b
Phase 2b
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Drug Pipeline

Drug Stage Notes
GB0139
COVID-19
Phase 2
Phase 2
Phase 2 top-line data released June 22, 2021. Will focus resources on other pipeline treatments.
GB2064 (MYLOX-1)
Myelofibrosis
Phase 2
Phase 2
Phase 2 trial to be initiated 1H 2021.
GB1211 (GALLANT-1)
Non-small cell lung cancer (NSCLC)
Phase 2
Phase 2
Phase 2 trial to be initiated 2H 2021.
GB1211 (GULLIVER-2)
Liver cirrhosis
Phase 2a
Phase 2a
Phase 2a trial to be initiated 2H 2021

Latest News

  1. BOSTON, July 13, 2021 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a publicly listed biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced that it has resumed recruitment in its Phase 2b GALACTIC-1 trial of GB0139 for the treatment of Idiopathic Pulmonary Fibrosis (IPF) under a revised protocol that was submitted to the U.S. Food and Drug Administration and other regulatory bodies, including those in Australia, Germany, Spain and the United Kingdom. Following the recommendation from an independent Data Safety Monitoring Board in March 2021 to modify the GALACTIC-1 trial protocol, 38 patients continued treatment in this Phase 2b trial. Under the revised protocol, Galecto is now recruiting…

    BOSTON, July 13, 2021 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a publicly listed biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced that it has resumed recruitment in its Phase 2b GALACTIC-1 trial of GB0139 for the treatment of Idiopathic Pulmonary Fibrosis (IPF) under a revised protocol that was submitted to the U.S. Food and Drug Administration and other regulatory bodies, including those in Australia, Germany, Spain and the United Kingdom. Following the recommendation from an independent Data Safety Monitoring Board in March 2021 to modify the GALACTIC-1 trial protocol, 38 patients continued treatment in this Phase 2b trial. Under the revised protocol, Galecto is now recruiting additional patients who are not taking nintedanib or pirfenidone at screening, who will be randomized 2:1 to receive either GB0139 3 mg or placebo.

    GALACTIC-1 is a 52-week randomized, double-blind, multicenter, parallel, placebo-controlled Phase 2b trial being conducted across more than 100 centers globally, investigating the safety and efficacy of Galecto's lead inhaled compound, GB0139, in up to 210 patients with IPF. The revised trial design retains the same statistical powering to assess the primary endpoint of forced vital capacity (FVC) decline over 52 weeks. Galecto anticipates that topline data from the GALACTIC-1 trial will be available by mid-2023.

    "We are pleased to continue our Phase 2b GALACTIC-1 trial of GB0139 in IPF patients. We believe the 3 mg dose of GB0139, as a single agent, has the potential to be an effective and potentially life-changing treatment. In our previous study of GB0139 in IPF patients, we showed that the 3 mg dose is well-tolerated and easy to administer for the patients. We observed target engagement at that dose level, with a decrease in lung macrophage Galectin-3 levels, as well as reduction in a number of fibrosis biomarkers, including YKL-40, PDGF, and PAI-1. Additionally, we recently announced the results of GB0139 in COVID-19 patients with compromised lung function, which confirmed that the compound was well-tolerated and showed target engagement and highly relevant biological effects," said Dr. Hans Schambye, CEO of Galecto. "Around 50% of IPF patients in Europe and the US do not receive treatment with either pirfenidone or nintedanib, representing a significant unmet medical need. We are confident in the safety of the 3 mg GB0139 dose based on our previous clinical results and the blinded data in the GALACTIC-1 trial. We are looking forward to continuing to investigate this exciting drug candidate."

    GB0139

    GB0139 is the world's first small molecule galectin-3 inhibitor studied in man. The compound is not taken up via the oral route and is being developed as an inhaled therapeutic in Idiopathic Pulmonary Fibrosis (https://clinicaltrials.gov/ct2/show/NCT03832946). Early phase studies have shown that inhalation of GB0139 in healthy volunteers and in IPF patients is well tolerated, and the phase 2a IPF trial showed significant effects on several biomarkers linked to worse outcomes in IPF.

    About Galecto

    Galecto is a clinical stage biotechnology company incorporated in the U.S. that is developing small molecule-based galectin inhibitors and the collagen cross-linking enzyme, LOXL2, inhibitors. Galecto has multiple clinical programs in fibrosis and cancer focused on galectin-3 and LOXL2, including an inhaled galectin-3 modulator (GB0139) currently in a phase 2b trial for the potential treatment of idiopathic pulmonary fibrosis. The company's pipeline also includes an orally active galectin-3 inhibitor (GB1211) that is expected to be part of (i) a phase 2 trial for the potential treatment of NSCLC in combination with an anti-PD1 product and (ii) a phase 1b/2 trial in liver cirrhosis, as well as an orally active LOXL2 inhibitor (GB2064) that is expected to part of a phase 2 trial for the potential treatment of myelofibrosis. It is anticipated that enrollment for all of these trials will be initiated in 2021.

    Galecto intends to use its website as a means of disclosing material non-public information. For regular updates about Galecto, visit www.galecto.com.

    Forward-Looking Statements

    Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include statements about the GALACTIC-1 trial, including plans for resuming enrollment of patients, the timing of completing enrollment and releasing topline data, as well as GB0139's potential (including the safety and effectiveness of the 3 mg dose). The words "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. For such statements, Galecto claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Galecto's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include risks and uncertainties related to the development of Galecto's product candidates, their therapeutic potential and outcomes related to our clinical trials, our ability to continue to enroll patients and complete the GALACTIC-1 trial with fewer dosage groups, the risk that FDA or other regulatory agency imposes a clinical hold on the GALACTIC-1 trial, having adequate funds and their use, and those additional risks and uncertainties disclosed in Galecto's filings with the Securities and Exchange Commission. These forward-looking statements represent Galecto's judgment as of the time of this release. Galecto disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.

    For more information, contact: 
      
    Galecto Inc. 
    Hans Schambye, CEO 
    Jon Freve, CFO 
    +45 70 70 52 10 
      
    Investors/USMedia/EU
    Ashley R. RobinsonMary-Ann Chang
    +1 617 430 7577+44 7483 284 853



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    • GB0139 significantly reduced oxygen flow requirements and improved several biomarkers for lung and systemic inflammation, liver function, tissue damage and coagulation
    • Data demonstrate potential of GB0139 in patients with viral-induced acute lung injury
    • Currently Galecto will prioritize resources for its four phase 2 trials in fibrosis and cancer

    BOSTON and COPENHAGEN, Denmark, June 22, 2021 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a publicly listed, clinical stage biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced preliminary topline results from an investigator-initiated trial examining Galecto's inhaled galectin-3 inhibitor (GB0139). This trial included 41 hospitalized patients…

    • GB0139 significantly reduced oxygen flow requirements and improved several biomarkers for lung and systemic inflammation, liver function, tissue damage and coagulation

    • Data demonstrate potential of GB0139 in patients with viral-induced acute lung injury
    • Currently Galecto will prioritize resources for its four phase 2 trials in fibrosis and cancer

    BOSTON and COPENHAGEN, Denmark, June 22, 2021 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a publicly listed, clinical stage biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced preliminary topline results from an investigator-initiated trial examining Galecto's inhaled galectin-3 inhibitor (GB0139). This trial included 41 hospitalized patients with COVID-19 infection who did not require mechanical ventilation, of which 20 were randomized to the GB0139 arm.

    GB0139, dosed at 10 mg twice a day for 2 days and subsequently once a day for up to 14 days, showed a favorable safety profile with no treatment-related serious adverse events reported. GB0139 had a positive trend on acute lung injury related to COVID-19, as patients who received GB0139 showed signs of improved lung function with a significant decline in oxygen flow requirements compared to patients only receiving standard of care (SOC), which included dexamethasone, remdesivir and anticoagulant therapy.

    GB0139 showed target engagement by reducing galectin-3 levels compared to SOC (p < 0.01). Patients with COVID-19 were able to inhale GB0139 and achieve consistent exposure of GB0139 at levels previously associated with systemic biomarker responses in IPF patients (including YKL-40 and PAI-1). Patients showed improved inflammation and coagulation biomarkers, including CXCL10, thrombocytes and reduced D-dimers, as well as improved biomarkers of liver function and tissue damage. While the severity of the disease at baseline was worse in patients receiving GB0139, these patients had similar outcomes to patients receiving only SOC.

    Bertil Lindmark, Chief Medical Officer of Galecto, stated, "Galectin-3 has been linked to several disease mechanisms in COVID-19 that correlate to disease severity. It is exciting to see improvements in anti-inflammatory, anti-thrombotic and organ function parameters over and above those seen in SOC. This illustrates the potential of galectin-3 inhibition in patients with acute lung injury and supports further assessment of GB0139 in viral-induced acute lung injury, including that caused by COVID-19."

    In a post-hoc subgroup analysis of patients with moderate to severe COVID-19 infection, there was a 21% reduction in mortality in patients treated with GB0139 vs SOC. Furthermore, patients had reductions in CXCL10, IL-6, IL-10 and TNFα, suggesting that GB0139 has the potential to counter the cytokine storm and prevent acute respiratory distress syndrome and multi-organ failure. GB0139 also reduced PAI-1 and YKL-40 levels – as previously observed in Galecto's phase 2a trial in IPF patients. These markers are associated with a high risk of thrombosis and fibrosis, suggesting that GB0139 may reduce lung fibrosis seen in COVID-19 patients. This data together suggests GB0139 could result in clinical improvement in moderate to severe COVID-19 patients by reducing inflammation, improving lung and other organ function and reducing the risk of cytokine storm and micro-thrombosis.

    Dr. Hans Schambye, President and Chief Executive Officer of Galecto, commented, "We were pleased that the safety and tolerability of GB0139 10 mg was further confirmed with early biomarker signs, which are in line with our previously reported IPF data. It is highly encouraging that we have now demonstrated in two separate clinical trials, IPF and COVID-19, that GB0139 can be dosed in patients with compromised lung function, and that the compound shows target engagement and highly relevant biological effects. Given the continued evolution of the COVID landscape, we believe that it is prudent to focus our financial and human resources on our exciting phase 2 pipeline of fibrosis and cancer treatments, including IPF, myelofibrosis, NSCLC and liver cirrhosis." Dr. Schambye added, "We will continue to pursue opportunities relating to viral-induced acute lung injury and also explore external options for partnering and/or funding additional COVID-19 activities."

    It is anticipated that additional data from this trial will be released at a scientific conference later in 2021.

    COVID-19 Trial

    In this open-label trial (https://clinicaltrials.gov/ct2/show/NCT04473053), 41 patients were randomized to receive either standard of care or inhaled GB0139 (dosed at 10 mg twice a day for 2 days and subsequently once a day for up to 14 days) plus standard of care, to evaluate the safety and tolerability of GB0139, pharmacokinetics, and its effects on clinical outcomes and biomarkers.

    About Galecto

    Galecto is a clinical stage biotechnology company incorporated in the U.S. that is developing small molecule-based galectin inhibitors and the collagen cross-linking enzyme, LOXL2, inhibitors. Galecto has multiple clinical programs in fibrosis and cancer focused on galectin-3 and LOXL2, including an inhaled galectin-3 modulator (GB0139) currently in a phase 2b trial for the potential treatment of idiopathic pulmonary fibrosis.  The company's pipeline also includes an orally active galectin-3 inhibitor (GB1211) that is expected to be part of (i) a phase 2 trial for the potential treatment of NSCLC in combination with an anti-PD1 product and (ii) a phase 1b/2 trial in liver cirrhosis, as well as an orally active LOXL2 inhibitor (GB2064) that is expected to part of a phase 2 trial for the potential treatment of myelofibrosis. It is anticipated that enrollment for all of these trials will be initiated in 2021.

            

    GB0139

    GB0139 is the world's first small molecule galectin-3 inhibitor studied in man. The compound is not taken up via the oral route and is being developed as an inhaled therapeutic in Idiopathic Pulmonary Fibrosis (https://clinicaltrials.gov/ct2/show/NCT03832946). Early phase studies have shown that inhalation of GB0139 in healthy volunteers and in IPF patients is well tolerated, and the phase 2a IPF study showed significant effects on several biomarkers linked to worse outcomes in IPF.

    Galecto intends to use its website as a means of disclosing material non-public information. For regular updates about Galecto, visit www.galecto.com.

    Forward-Looking Statements

    Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include statements about the tolerability and efficacy of GB0139 in COVID-19 lung inflammation; the potential of galectin-3 inhibition in patients with acute lung injury; that GB0139 may reduce lung fibrosis seen in COVID-19 patients; that GB0139 has the potential to counter the cytokine storm and prevent acute respiratory distress syndrome and multi-organ failure; and Galecto's focus and plans for clinical development of its product candidates and pipeline. The words "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. For such statements, Galecto claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Galecto's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include risks and uncertainties related to the development of Galecto's product candidates and their therapeutic potential, having adequate funds and their use, and those disclosed in Galecto's filings with the Securities and Exchange Commission. These forward-looking statements represent Galecto's judgment as of the time of this release. Galecto disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.

    For more information, contact:

    Galecto Inc. 
    Hans Schambye, CEO

    Jon Freve, CFO
     
    +45 70 70 52 10 


    Investors/US


    Media/EU
    Ashley R. Robinson

    Mary-Ann Chang

    +1 617 775 5956+44 7483 284 853

     



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  2. BOSTON, June 02, 2021 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a NASDAQ listed biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced that it will host a key opinion leader (KOL) webinar on the myelofibrosis treatment landscape and the current and potential future treatments on Wednesday, June 9, 2021 at 8am Eastern Time.

    The webinar will feature a presentation by KOL Srdan Verstovsek, MD, Ph.D., UT MD Anderson Cancer Center, who will discuss the current treatment landscape and unmet medical need in treating patients with myelofibrosis, a fibrosis-related blood cancer. He will also discuss the opportunity for Galecto's GB2064 as a potential treatment option and Hans Schambye…

    BOSTON, June 02, 2021 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a NASDAQ listed biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced that it will host a key opinion leader (KOL) webinar on the myelofibrosis treatment landscape and the current and potential future treatments on Wednesday, June 9, 2021 at 8am Eastern Time.

    The webinar will feature a presentation by KOL Srdan Verstovsek, MD, Ph.D., UT MD Anderson Cancer Center, who will discuss the current treatment landscape and unmet medical need in treating patients with myelofibrosis, a fibrosis-related blood cancer. He will also discuss the opportunity for Galecto's GB2064 as a potential treatment option and Hans Schambye, Galecto's President and CEO, will update its development status.

    Dr. Verstovsek will be available to answer questions following the formal presentations with Galecto's management team.

    GB2064 is an oral LOXL2 inhibitor that the company plans to examine in a Phase 2a study for the treatment of myelofibrosis. LOXL-2 is upregulated in myelofibrosis fibrotic tissue and plays a key role in fibrosis and disease progression in the tumor micro-environment; and as such, inhibiting LOXL-2 may restore bone marrow function and be disease-modifying. The current standard of care for myelofibrosis is JAK inhibitors, but their use is limited by side effects and loss of efficacy in many patients.

    To register for the webinar, please click here.

    Dr. Srdan Verstovsek is the United Energy Resources, Inc., Professor of Medicine and a Professor in the Department of Leukemia, Division of Cancer Medicine, Director of the Hanns A. Pielenz Clinical Research Center for Myeloproliferative Neoplasms (MPN), and Chief of the Section for MPN at the University of Texas MD Anderson Cancer Center. He is also founder/Director of the largest MPN Clinical Research Center worldwide.

    Dr. Verstovsek has achieved international acclaim for his leadership in developing landmark MPN therapeutics. He has led more than 60 early/advanced phase clinical trials of novel MPN drugs including the clinical development of the JAK1/2 inhibitor fuxolitinib, the first FDA-approved drug for myelofibrosis. Currently, Dr. Verstovsek is leading several pivotal phase 3 trials for myelofibrosis medications.

    Dr. Verstovsek has published, 4 books, 24 book chapters, and more than 550 peer-reviewed original articles and reviews in leading medical journals such as the New England Journal of Medicine, Blood, Leukemia, and Lancet. Dr. Verstovsek holds 3 patents for cancer and leukemia treatments.

    Dr. Verstovsek's contributions in MPN have been globally recognized with numerous invitations as expert speaker/educator/Chair at significant national and international conferences. He regularly engages at multiple levels with MPN patients' advocacy groups/societies. He is Co-Founder/Executive Committee Member of the International Working Group for Myelofibrosis Treatment and Research. Dr. Verstovsek is the recipient of several distinguished awards, including the Otis W. and Pearl L. Walters Faculty Achievement Award in Clinical Research (2017), The University of Texas MD Anderson Cancer Center, and was elected as a member of American Society for Clinical Investigation in 2015.

    About Galecto

    Galecto is a clinical stage biotechnology company incorporated in the U.S. that is developing small molecule-based galectin inhibitors and the collagen cross-linking enzyme, LOXL2, inhibitors. Galecto has multiple clinical programs in fibrosis and cancer focused on galectin-3 and LOXL2, including an inhaled galectin-3 modulator (GB0139) currently in a phase 2b trial for the potential treatment of idiopathic pulmonary fibrosis.  The company's pipeline also includes an orally active galectin-3 inhibitor (GB1211) that is expected to be part of (i) a phase 2 trial for the potential treatment of NSCLC in combination with an anti-PD1 product and (ii) a phase 1b/2 trial in liver cirrhosis, as well as an orally active LOXL2 inhibitor (GB2064) that is expected to part of a phase 2 trial for the potential treatment of myelofibrosis. It is anticipated that enrollment for all of these trials will be initiated in 2021.  

    Galecto intends to use its website as a means of disclosing material non-public information. For regular updates about Galecto, visit www.galecto.com.

    Forward-Looking Statements

    Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include statements about Galecto's plans to examine GB2064 in a Phase 2a study for the treatment of myelofibrosis. The words "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. For such statements, Galecto claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Galecto's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include risks and uncertainties related to the development of Galecto's product candidates and their therapeutic potential, having adequate funds and their use, and those disclosed in Galecto's filings with the Securities and Exchange Commission. These forward-looking statements represent Galecto's judgment as of the time of this release. Galecto disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.

    For more information, contact:

    Galecto Inc. 
    Hans Schambye, CEO

    Jon Freve, CFO
     
    +45 70 70 52 10 


    Investors/US


    Media/EU
    Ashley R. Robinson

    Mary-Ann Chang

    +1 617 775 5956+44 7483 284 853



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  3. BOSTON, May 11, 2021 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a NASDAQ listed biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced that Garrett Winslow has joined the Company as Senior Vice President, General Counsel. In this role, Mr. Winslow will lead the Company's legal, compliance and enterprise risk management functions, reporting to Hans Schambye, CEO.

    Garrett Winslow brings to Galecto over 15 years of experience working with public companies in the life sciences industry. Prior to joining Galecto, he served as the General Counsel of Spring Bank Pharmaceuticals.  He was also a partner in the Corporate and Securities group at Mintz, Levin, Cohn, Ferris, Glovsky and…

    BOSTON, May 11, 2021 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ:GLTO), a NASDAQ listed biotechnology company focused on the development of novel treatments for fibrosis and cancer, today announced that Garrett Winslow has joined the Company as Senior Vice President, General Counsel. In this role, Mr. Winslow will lead the Company's legal, compliance and enterprise risk management functions, reporting to Hans Schambye, CEO.

    Garrett Winslow brings to Galecto over 15 years of experience working with public companies in the life sciences industry. Prior to joining Galecto, he served as the General Counsel of Spring Bank Pharmaceuticals.  He was also a partner in the Corporate and Securities group at Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. in Boston, Massachusetts, where he advised public and private companies on securities law compliance, corporate governance and transactional matters. Mr. Winslow received his Master's in Taxation from Boston University Law School, J.D. degree from Suffolk University Law School and B.A. degree in Business Administration from the University of Washington.

    "We are pleased to welcome Garrett to our senior management team. He is a talented and experienced executive with an in-depth knowledge of the healthcare industry. Importantly, Garrett brings broad legal and regulatory experience, which will help guide us as we progress our clinical development pipeline," said Dr. Hans Schambye, CEO of Galecto

    Mr. Winslow added, "I am excited to join Galecto at this point in their development. Galecto has a rich pipeline of assets moving into Phase 2 development that is supported by a strong balance sheet and a team with a proven ability to execute on its strategy. I look forward to contributing to its success."

    About Galecto

    Galecto is a clinical stage biotechnology company incorporated in the U.S. that is developing small molecule-based galectin inhibitors and the collagen cross-linking enzyme, LOXL2, inhibitors. Galecto has multiple clinical programs in fibrosis and cancer focused on galectin-3 and LOXL2, including an inhaled galectin-3 modulator (GB0139) currently in a phase 2b trial for the potential treatment of idiopathic pulmonary fibrosis.  The company's pipeline also includes an orally active galectin-3 inhibitor (GB1211) that is expected to be part of (i) a phase 2 trial for the potential treatment of NSCLC in combination with an anti-PD1 product and (ii) a phase 1b/2 trial in liver cirrhosis, as well as an orally active LOXL2 inhibitor (GB2064) that is expected to part of a phase 2 trial for the potential treatment of myelofibrosis. It is anticipated that enrollment for all of these trials will be initiated in 2021.  

    Galecto intends to use its website as a means of disclosing material non-public information. For regular updates about Galecto, visit www.galecto.com.

    Forward-Looking Statements

    Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include statements about Galecto's focus, plans for clinical development, product candidates and pipeline. The words "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. For such statements, Galecto claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Galecto's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include risks and uncertainties related to the development of Galecto's product candidates and their therapeutic potential, having adequate funds and their use, and those disclosed in Galecto's filings with the Securities and Exchange Commission. These forward-looking statements represent Galecto's judgment as of the time of this release. Galecto disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.

    For more information, contact:

    Galecto Inc. 
    Hans Schambye, CEO

    Jon Freve, CFO
     
    +45 70 70 52 10 


    Investors/US
    Media/EU
    Ashley R. Robinson

    Mary-Ann Chang

    +1 617 775 5956+44 7483 284 853



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  4. BOSTON, May 06, 2021 (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 members of the Galecto executive team will participate in multiple upcoming investor events.

    Investor Conferences
    Hans Schambye, the Company's Chief Executive Officer, and Jonathan Freve, the Company's Chief Financial Officer, will be available for 1x1 meetings with investors at the following investor conferences:

    Bank of America Securities 2021 Virtual Healthcare Conference – Corporate Presentation on Wednesday, May 12 at 8 AM ET

    Jefferies Virtual Healthcare Conference – Corporate Presentation on Thursday, June 3 at 8:30 AM ET

    SVB Leerink

    BOSTON, May 06, 2021 (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 members of the Galecto executive team will participate in multiple upcoming investor events.

    Investor Conferences

    Hans Schambye, the Company's Chief Executive Officer, and Jonathan Freve, the Company's Chief Financial Officer, will be available for 1x1 meetings with investors at the following investor conferences:

    Bank of America Securities 2021 Virtual Healthcare Conference – Corporate Presentation on Wednesday, May 12 at 8 AM ET

    Jefferies Virtual Healthcare Conference – Corporate Presentation on Thursday, June 3 at 8:30 AM ET

    SVB Leerink CybeRx Series: Liver Disease Day – Thursday, June 17

    LifeSci Advisors Nordic Biotech Summit – Tuesday, June 29

    Key Opinion Leader Event

    On Wednesday, June 9, Galecto will host a key opinion leader event to discuss the current treatment landscape and unmet clinical need for myelofibrosis, as well as the potential for GB2064, Galecto's LOXL2 inhibitor that is expected to enter a phase 2 trial in the current quarter.  

    A live webcast of the KOL event and available presentations will be posted under the Investor section of the Company's website at www.galecto.com. A replay of each available presentation will be available for 30 days following the event.

    About Galecto

    Galecto is a clinical stage biotechnology company incorporated in the U.S. that is developing small molecule-based galectin inhibitors and the collagen cross-linking enzyme, LOXL2, inhibitors. Galecto has multiple clinical programs in fibrosis and cancer focused on galectin-3 and LOXL2, including an inhaled galectin-3 modulator (GB0139) currently in a phase 2b trial for the potential treatment of idiopathic pulmonary fibrosis.  The company's pipeline also includes an orally active galectin-3 inhibitor (GB1211) that is expected to be part of (i) a phase 2 trial for the potential treatment of NSCLC in combination with an anti-PD1 product and (ii) a phase 1b/2 trial in liver cirrhosis, as well as an orally active LOXL2 inhibitor (GB2064) that is expected to part of a phase 2 trial for the potential treatment of myelofibrosis. It is anticipated that enrollment for all of these trials will be initiated in 2021.  

    Galecto intends to use its website as a means of disclosing material non-public information. For regular updates about Galecto, visit www.galecto.com.

    Forward-Looking Statements

    Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include statements about the timing for initiation of enrollment in three separate Phase 2 trials for myelofibrosis, NSCLC, liver cirrhosis. Such forward-looking statements include statements about Galecto's focus, plans for clinical development, product candidates and pipeline. The words "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. For such statements, Galecto claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Galecto's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include risks and uncertainties related to the development of Galecto's product candidates and their therapeutic potential, having adequate funds and their use, and those disclosed in Galecto's filings with the Securities and Exchange Commission. These forward-looking statements represent Galecto's judgment as of the time of this release. Galecto disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.

    For more information, contact:

    Galecto, Inc. 
    Hans Schambye, CEO

    Jon Freve, CFO
     
    +45 70 70 52 10 
      
    Investor Relations USInvestor/Media Relations EU
    Ashley R. Robinson

    Mary-Ann Chang

    +1 617 430 7577+44 7483 284 853



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