Galera Q1 net loss narrows to $4.4M; ceases clinical development, explores strategic alternatives

Galera Therapeutics, Inc.

2024-Q1 EPS reported -$0.08

Net loss of $4.4M ($0.08/sh) vs $17.7M ($0.50/sh) in Q1 2023; R&D expenses fell to $1.5M.
Cash and equivalents $13.5M as of March 31, 2024; expected to fund operations into Q3 2025.
Company ceased all clinical trial activity and suspended clinical development of avasopasem and rucosopasem.
Board adopted stockholder rights agreement on May 3, 2024 in response to recent stock accumulations.
Evaluating strategic alternatives with Stifel; options may include mergers, asset sales, or 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 0.95

Galera Therapeutics, Inc. reported first quarter ended March 31, 2024 results: net income $(4.4) million, or $(0.08) per share, EPS $(0.08) per share.

Period: first quarter ended March 31, 2024
Net income: $(4.4) million, or $(0.08) per share
EPS: $(0.08) per share
Result: reported results

Exact text from the filing

Galera reported a net loss of $(4.4) million, or $(0.08) per share, for the first quarter of 2024, compared to a net loss of $(17.7) million, or $(0.50) per share, for the same period in 2023.

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Galera Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-136687

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