Cancer drug developer Galecto's Q3 net loss narrows to $3.1 mln

Reuters2025-11-07

Cancer drug developer Galecto's Q3 net loss narrows to $3.1 mln

Overview

Galecto Q3 net loss narrows to $3.1 mln from $3.9 mln last year
Company's cash reserves expected to fund GB3226 preclinical development into 2026

Outlook

Company anticipates cash reserves will fund preclinical development into 2026
Galecto requires additional capital for future clinical development

Result Drivers

INCREASED R&D COSTS - R&D expenses rose due to higher chemistry, manufacturing, and control costs, and preclinical studies
DECREASED ADMIN COSTS - General and administrative expenses fell due to reduced personnel and legal costs

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Net Income		-$3.13 mln
Q3 Basic EPS		-$2.36
Q3 Operating Expenses		$3.16 mln
Q3 Operating Income		-$3.16 mln

Press Release: ID:nGNX47zpM6

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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