News & Events zu Galecto Inc (GLTO)GLTOGalecto Inc

Galecto Changes Name to Damora Therapeutics and Plans Nasdaq Listing in 2026

Galecto announced its name change to Damora Therapeutics. Effective March 10, 2026, Damora will trade on Nasdaq under the trading symbol "DMRA." The name change follows the completion of Galecto's previously announced acquisition of privately held Damora and a concurrent private investment of approximately $285M in November 2025. Combined with gross proceeds of approximately $316M from the Company's recently closed public offering in February 2026, Damora plans to rapidly advance its pipeline of mutant calreticulin-targeted therapeutics in essential thrombocythemia and myelofibrosis, beginning with lead program DMR-001. "As Damora Therapeutics, we are bringing innovative, disease-modifying medicines to patients with mutCALR-driven myeloproliferative neoplasms (MPNs), where there is high medical need and no available treatments that target the underlying cause of disease," said Sherwin Sattarzadeh, COO. "With a strong operational foundation including board and executive leadership with a track record of clinical and commercial success, we are now scaling efforts to initiate clinical development of DMR-001 and rapidly advance it toward registration." DMR-001 is an investigational monoclonal antibody therapy targeting mutCALR with best-in-class potential, demonstrated by preclinical data showing its potent inhibition of both Type 1 and Type 2 mutCALR and an extended half-life expected to enable convenient, infrequent subcutaneous dosing. The Company's additional anti-mutCALR pipeline therapies, DMR-002 and DMR-003, enable portfolio optionality to address the full spectrum of patients with mutCALR-driven MPNs.

Galecto Grants 153,700 Stock Options to New Employees

Galecto granted equity awards on March 2, 2026, to four newly-hired, non-executive employees. The inducement grants were approved by Galecto's independent Compensation Committee and were made as material inducements to such individuals' acceptance of employment with Galecto in accordance with Nasdaq Listing Rule 5635(c)(4). The inducement grants consist of non-qualified stock options to purchase an aggregate of 153,700 shares of the Galecto's common stock with a 10-year term and an exercise price of $29.58 per share. The options vest as to 25% on the first anniversary of the applicable grant date and in equal monthly installments for the following 36 months. The inducement grants are subject to the terms and conditions of the 2022 Galecto, Inc. Inducement Plan, and the terms and conditions of a stock option agreement.

Galecto Commences Underwritten Public Offering of Common and Preferred Stock

Galecto announced that it has commenced an underwritten public offering of shares of its common stock and, in lieu of common stock to certain investors that so choose, Series C non-voting convertible preferred stock. All of the securities are being offered by Galecto. Galecto intends to use the proceeds from the proposed underwritten public offering of its shares of common stock and Series C preferred stock, together with its cash and cash equivalents, for preclinical studies, clinical trials, and manufacturing in support of its antibody programs, as well as for additional research and development activities, working capital, and general corporate purposes. Jefferies, Leerink Partners, Evercore ISI and Guggenheim Securities are acting as joint book-running managers for the offering.