Galera reports FY2023 net loss $59.1M; avasopasem NDA rejected; strategic review may lead to dissolution

Galera Therapeutics, Inc.

FY2023 net loss $59.1M ($1.33/sh); Q4 net loss $5.6M ($0.10/sh); cash $18.3M as of Dec 31, 2023.
Cash and equivalents $18.3M at year-end; expected to fund operations into Q2 2025.
FDA issued CRL for avasopasem NDA in Aug 2023; requires additional Phase 3 trial for resubmission.
Halted GRECO-2 (pancreatic) and GRECO-1 (NSCLC) trials after futility; workforce reduced 70% in Aug 2023.
Engaged Stifel to review strategic alternatives; CEO notes process could lead to dissolution.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Galera Therapeutics, Inc. reported financial results for the fourth quarter and year ended December 31, 2023.

Period: the fourth quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

Galera Reports Fourth Quarter and Full Year 2023 Financial Results and Recent Corporate Updates

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Galera Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-079600

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