Galecto's Phase 2b GALACTIC-1 trial misses primary endpoint; GB0139 discontinued

Damora Therapeutics, Inc.

GALACTIC-1 trial did not meet primary endpoint of FVC decline; change from baseline -316.6 mL vs -127.4 mL (placebo).
Serious adverse events: 7.8% in GB0139 arm vs 1.4% placebo; worsening IPF observed.
Cash and investments ~$49M as of July 31, 2023; evaluating resource allocation to extend runway into 2025.
Shifting focus to liver diseases; GULLIVER-3 Phase 2a trial of GB1211 expected to start early 2024.
No confirmation of target engagement; galectin-3 levels increased in both arms from day 0 to week 52.

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