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Galecto Priced, Nasdaq: GLTO

Phase 2 biotech developing therapeutics for fibrosis and related diseases.

Industry: Health Care

Latest Trade: $5.33 -0.16 (-2.9%)

First Day Return: 0.0%

Return from IPO: -63.4%

Industry: Health Care

We 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. Our 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. We believe our 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. Our lead product candidate, GB0139, is an inhaled inhibitor of galectin-3. We 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 our clinical trials to date, we 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. We have conducted a Phase 2a study in 24 IPF patients, and we have initiated a potentially registrational, randomized Phase 2b trial in 450 IPF patients. We expect topline results from this ongoing trial to be available in 2022.
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IPO News for Galecto
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IPO Data
IPO File Date 10/07/2020
Offer Price $15.00
Price Range $14.00 - $16.00
Offer Shares (mm) 5.7
Deal Size ($mm) $85
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 10/28/2020
Offer Price $15.00
Price Range $14.00 - $16.00
Offer Shares (mm) 5.7
Deal Size ($mm) $85
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Copenhagen, Denmark
Founded 2011
Employees 20
Website www.galecto.com