D
Damora Therapeutics, Inc.
DMRACIK 0001800315NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-209.84M
Total Assets
$260.53M
Equity
$240.38M
Shares Out
60.30M
Op. Cash Flow
$-6.70M
Business
Galecto, Inc. is a clinical-stage biotechnology company developing small molecule therapeutics that target biological processes driving cancer and severe liver diseases. Its main product candidates are GB3226, a preclinical dual ENL‑YEATS and FLT3 inhibitor for multiple molecular subsets of acute myeloid leukemia (AML), and GB1211, an oral selective galectin‑3 inhibitor for oncology and liver disease indications. The company’s activities are organized around discovery, preclinical development and clinical trials of these product programs. Galecto distributes investigational products through clinical trial networks and investigator-sponsored collaborations in the U.S. and internationally.
Summary from filing dated 2025-03-19
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Research and development | 27 | 6 | 24 | 48 | 38 | |
| Acquired in-process research and development | 174 | 4 | — | — | — | |
| General and administrative | 10 | 10 | 13 | 13 | 14 | |
| Restructuring costs | 0 | 968,000 | 3 | — | — | |
| Total operating expenses | 211 | 22 | 40 | 61 | 52 | |
| Loss from operations | −211 | −22 | −40 | −61 | −52 | |
| Interest income, net | 1 | 844,000 | 2 | 722,000 | 156,000 | |
| Foreign exchange transaction gain (loss), net | −84,000 | 18,000 | −197,000 | −1 | 319,000 | |
| Total other income, net | 1 | 862,000 | 2 | −417,000 | 475,000 | |
| Loss before income tax expense | −210 | −21 | −38 | — | — | |
| Income tax expense | −50,000 | −41,000 | 0 | — | — | |
| Net loss | −210 | −21 | −38 | −62 | −52 | |
| Net loss per share, basic, common stock | 3.98 | −18.53 | −36.08 | −2.43 | −2.05 | |
| Net loss per share, diluted, common stock | 3.98 | −18.53 | −36.08 | −2.43 | −2.05 | |
| Weighted-average number of shares used in computing net loss per common share, basic | 1 | 1 | 1 | 25 | 25 | |
| Weighted-average number of shares used in computing net loss per common share, diluted | 1 | 1 | 1 | 25 | 25 | |
| Currency translation gain (loss) | 705,000 | −283,000 | 393,000 | 265,000 | −917,000 | |
| Other comprehensive income (loss), net of tax | 705,000 | −283,000 | 624,000 | 76,000 | −994,000 | |
| Total comprehensive loss | −209 | −22 | −38 | −62 | −53 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 258 | 14 | 21 | 33 | 63 | |
| Prepaid expenses and other current assets | 3 | 3 | 4 | 4 | 10 | |
| Total current assets | 260 | 17 | 37 | 64 | 110 | |
| Operating lease right-of-use asset | 68,000 | 73,000 | 247,000 | 810,000 | 834,000 | |
| Equipment, net | 36,000 | 57,000 | 78,000 | 357,000 | 203,000 | |
| Other assets, noncurrent | 0 | 163,000 | 1 | 2 | 2 | |
| Total assets | 261 | 17 | 38 | 73 | 122 | |
| Accounts payable | 444,000 | 377,000 | 2 | 3 | 2 | |
| Accrued expenses and other current liabilities | 2 | 820,000 | 4 | 8 | 3 | |
| Total current liabilities | 20 | 1 | 6 | 11 | 5 | |
| Operating lease liabilities, noncurrent | 53,000 | 61,000 | 66,000 | 328,000 | 448,000 | |
| Other liabilities, noncurrent | 28,000 | 43,000 | — | — | — | |
| Total liabilities | 20 | 1 | 6 | 11 | 5 | |
| Commitments and contingencies (Note 11) | — | — | — | — | — | |
| Mezzanine equity, Preferred stock, par value of $0.00001 per share; 10,000,000 shares authorized at December 31, 2025 and 2024; 159 shares issued and outstanding as of December 31, 2025 and 161 shares issued or outstanding as of December 31, 2024 | 1 | 1 | — | — | — | |
| Common stock, par value of $0.00001 per share; 500,000,000 shares authorized at December 31, 2025 and 2024; 1,597,321 and 1,316,989 shares issued and outstanding at December 31, 2025 and 2024, respectively | — | — | — | — | — | |
| Additional paid-in capital | 311 | 292 | 288 | 280 | 274 | |
| Accumulated deficit | −487 | −278 | −256 | −218 | −156 | |
| Accumulated other comprehensive income | 802,000 | 97,000 | 380,000 | −244,000 | −320,000 | |
| Total stockholders equity | 240 | 16 | 32 | 62 | 117 | |
| Total liabilities and stockholders equity | 261 | 17 | 38 | 73 | 122 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −210 | −21 | −38 | −62 | −52 | |
| Depreciation of equipment | 22,000 | 21,000 | 300,000 | 42,000 | 20,000 | |
| Stock-based compensation | 998,000 | 3 | 5 | 6 | 4 | |
| Issuance of common stock in connection with vesting of restricted stock units | 39,000 | 93,000 | — | — | — | |
| Issuance of preferred and common stock in connection with an Asset Purchase Agreement | — | 2 | — | — | — | |
| In-process research and development costs in connection with Damora Asset Acquisition | 174 | — | — | — | — | |
| Issuance of Paramora Warrant, net of cost assumed in Damora Asset Acquisition | 9 | — | — | — | — | |
| Amortization of premiums and discounts on marketable securities | — | 70,000 | −431,000 | 566,000 | 1 | |
| Amortization of right of use lease asset | 12,000 | 160,000 | 561,000 | 448,000 | 421,000 | |
| Accretion of lease liability | 6,000 | 10,000 | 46,000 | 58,000 | 75,000 | |
| Prepaid expenses and other current assets | −138,000 | 954,000 | 65,000 | 6 | −4 | |
| Other assets, noncurrent | 166,000 | 970,000 | 1 | −257,000 | −866,000 | |
| Accounts payable | 51,000 | −1 | −2 | 2 | −1 | |
| Accrued expenses and other current liabilities | 1 | −3 | −3 | 5 | 274,000 | |
| Related party accounts payable and other current liabilities | 17 | — | — | — | — | |
| Operating lease liabilities | −20,000 | −170,000 | −600,000 | −523,000 | −513,000 | |
| Other liabilities, noncurrent | −15,000 | 43,000 | — | — | — | |
| Net cash used in operating activities | −7 | −19 | −37 | −43 | −52 | |
| Damora Asset Acquisition costs, net of cash assumed | −17 | — | — | — | — | |
| Proceeds from sale of marketable securities | — | 12 | 48 | 57 | 36 | |
| Net cash (used in) provided by investing activities | −17 | 12 | 22 | 12 | −48 | |
| Proceeds from issuance of preferred stock in connection with private placement, net of issuance costs | 267 | — | — | — | — | |
| Proceeds from issuance of common stock in connection with stock option exercise | 33,000 | — | — | — | — | |
| Net cash provided by financing activities | 267 | — | 3 | 507,000 | — | |
| Net increase (decrease) in cash and cash equivalents | 243 | −7 | −12 | −30 | −100 | |
| Effect of exchange rate changes on cash and cash equivalents | 705,000 | −317,000 | 384,000 | 264,000 | −917,000 | |
| Cash paid for taxes | 5,000 | — | — | — | — | |
| Fair value of the Series B Preferred Stock issued in connection with the Damora Asset Acquisition | 153 | — | — | — | — | |
| Operating lease liability arising from obtaining right-of-use assets | — | 75,000 | — | 488,000 | 411,000 |
Filings
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