Galecto closes $316.3 million public offering

Galecto Inc. (NASDAQ: GLTO) completed its underwritten public offering of common stock, raising gross proceeds of approximately $316.3 million before fees and expenses, according to a company statement.

The biopharmaceutical company sold 16,644,737 shares at $19.00 per share, including 2,171,052 additional shares from the full exercise of underwriters' overallotment option. The offering closed February 12, 2026.

Jefferies, Leerink Partners, Evercore ISI and Guggenheim Securities served as joint book-running managers for the offering.

Galecto filed an automatically effective shelf registration statement with the Securities and Exchange Commission on February 10, 2026. The offering was conducted through a written prospectus and prospectus supplement filed with the SEC.

The company focuses on developing antibody therapeutics for hematological cancers. Its pipeline includes treatments targeting mutant calreticulin-driven myeloproliferative neoplasms for essential thrombocythemia and myelofibrosis, as well as GB3226, a dual inhibitor for acute myeloid leukemia treatment.

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