Galecto IPO

10/28/2020

IPO

$84,900,000

Management says it will use the net proceeds from the IPO as follows:approximately $95 million to fund the clinical development of our lead product candidate, GB0139, including for conducting our Phase 3 clinical trial in IPF;approximately $13 million to fund the clinical development of GB1211, including for conducting our Phase 2a clinical trial in NASH;approximately $11 million to fund the clinical development of GB1211, including for conducting our Phase 2a clinical trial in oncology;approximately $12 million to fund the clinical development of GB2064, including for conducting our Phase 2 clinical trial in myelofibrosis; andthe remainder, if any, for additional early-stage research and development activities, business development activities, working capital and other general corporate purposes.Based on our current plans, we believe our existing cash and cash equivalents, together with the net proceeds from this offering, will be sufficient to fund our operating expenses and capital

Publicly-held

Biopharmaceutical

Ole Maaloes Vej 3
Copenhagen, DK-2200
Denmark

Galecto (Nasdaq: GLTO) is a clinical stage biotechnology company committed to the development of novel small molecule therapeutics directed at biological targets which are at the heart of fibrosis, inflammation, and cancer. Galecto was founded by leading fibrosis-focused scientists and biotech executives and is built on more than 10 years of research into galectin.