Galecto Completes Acquisition of Damora Therapeutics

The latest announcement is out from Galecto ( (GLTO) ).

On November 10, 2025, Galecto, Inc. completed the acquisition of Damora Therapeutics, a biotechnology company specializing in antibody therapeutics for mutant calreticulin-driven myeloproliferative neoplasms (MPNs). This acquisition, along with a $285 million private investment, positions Galecto to advance Damora’s portfolio, including the lead program DMR-001, which is expected to reach Phase 1 clinical proof-of-concept data by 2027. The merger enhances Galecto’s capabilities in addressing blood cancers and provides a financial runway into 2029, supporting the development of multiple programs. The acquisition also resulted in changes to Galecto’s board of directors, with new appointments from Fairmount, the lead investor in the private placement.

Spark’s Take on GLTO Stock

According to Spark, TipRanks’ AI Analyst, GLTO is a Underperform.

Galecto faces significant financial challenges, with no revenue, ongoing losses, and high cash burn. The technical analysis indicates a bearish trend, and the negative valuation metrics reflect the company’s unprofitability. Overall, the stock is risky with potential for further decline unless financial performance improves.

To see Spark’s full report on GLTO stock, click here.

More about Galecto

Galecto is a clinical-stage biopharmaceutical company focused on developing novel treatments for cancer and liver diseases. Its pipeline includes first-in-class small molecule drug candidates targeting cancer and fibrosis signaling pathways, such as a preclinical dual inhibitor of ENL-YEATS and FLT3 for treating acute myeloid leukemia (AML).

Average Trading Volume: 2,483,214

Technical Sentiment Signal: Sell

Current Market Cap: $6.57M

For a thorough assessment of GLTO stock, go to TipRanks’ Stock Analysis page.