August 5, 2025 — Galecto, Inc. (NASDAQ: GLTO) announced its operating and financial results for the quarter ended June 30, 2025. The company remains focused on advancing its lead program, GB3226, a dual ENL-YEATS and FLT3 inhibitor for multiple genetic subsets of AML, with plans to submit an Investigational New Drug (IND) application to the FDA in Q1 2026.
Preclinical data supports the therapeutic potential of GB3226, both as a monotherapy and in combination, to address the menin-resistant population within AML. GB3326 has demonstrated significant improvements in efficacy compared to current FLT3 and menin inhibitors, showing activity across a broad spectrum of patient genotypes.
As of June 30, 2025, Galecto’s cash and cash equivalents were approximately $10.2 million, anticipated to fund operating expenses and capital requirements into 2026, including the GB3226 IND submission. The company will require substantial additional capital for future clinical development of its GB3226 and GB1211 programs.
Second Quarter 2025 Financial Results:
- Research and development expenses were $1.5 million, compared to $1.8 million for the three months ended June 30, 2024.
- General and administrative expenses were $2.0 million, compared to $2.8 million for the three months ended June 30, 2024.
- Net loss attributable to common stockholders was $3.4 million, or $(2.60) per basic and diluted share, compared with $5.3 million, or $(4.92) per basic and diluted share, for the prior year period.
Galecto is focused on novel treatments for cancer and liver diseases, with a pipeline including GB1211 (galectin-3 inhibitor) for liver cirrhosis and in combination with a checkpoint inhibitor for oncology indications, and GB3226 (ENL-YEATS and FLT3 inhibitor) for AML.
For more information, contact:
Investors/US
Sandya von der Weid
svonderweid@lifesciadvisors.com
+41 78 680 0538
