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Galecto, Inc. (GLTO)

Sector - Healthcare

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Company News

IPO Profile

About company

They are a clinical-stage biotechnology company developing therapeutics that are designed to target the biological processes that lie at the heart of fibrosis and impact a broad range of fibrotic and related diseases, including cancer. Their initial focus is on the development of small-molecule inhibitors of galectin-3 and lysyl oxidase-like 2, or LOXL2, which play key roles in regulating fibrosis. They believe their product candidates are distinct from the current generation of antifibrotic agents and have the potential to significantly improve patients’ clinical outcomes and enhance their quality of life. Their lead product candidate, GB0139, is an inhaled inhibitor of galectin-3. They are developing GB0139 for the treatment of severe fibrotic lung diseases such as idiopathic pulmonary fibrosis, or IPF, a life-threatening progressive fibrotic disease of the lung that affects approximately 100,000 people in the United States. In their clinical trials to date, they have demonstrated that orally inhaled GB0139 is well-tolerated and inhibits galectin-3 in the lungs, in a dose-dependent manner, and that it significantly decreases levels of a range of plasma biomarkers, such as YKL-40, that have been linked to mortality, severity and/or progression in IPF. They have conducted a Phase 2a study in 24 IPF patients, and they have initiated a potentially registrational, randomized Phase 2b trial in 450 IPF patients. They expect topline results from this ongoing trial to be available in 2022.
Industry
Pharmaceuticals
CEO CFO
Hans T. Schambye Jonathan Freve
Employees Founded
2011

Contacts

Address: Ole Maaloes Vej 3 DK-2200 Copenhagen N Denmark

Telephone: (+45) 70 70 52 10

Web page: http://www.galecto.com

IPO information

Expected Date 10/29/2020
Status Priced
Exchange NASDAQ
Lockup Period Expiration .Pro
Quiet Period Expiration .Pro
Old Price Range
-
Share prices ($)

Financial Data (last reporting year)

Market Cap (MM) $368.85
Revenues (MM) $0
Net Income (Loss) (MM) $-36.5

Voting

What do you think will happen with the GLTO share price after the next 3-6 months? 🔥 (+ 10% or more, flat (+ -10%), -10% or less)

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Shares Initial (MM) 5.7
Shares Revised (MM) 5.7
Expected offer amount (MM) $85.5
Realized offer amount(MM) $85.5
Underwriters
BofA Securities/ SVB Leerink/ Credit Suisse
CO-Managers
Kempen & Co

Sector: Healthcare

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