Galecto Announces Pricing of $275 Million Underwritten Public Offering

BOSTON, Feb. 10, 2026 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ: GLTO), a biopharmaceutical company focused on developing novel therapeutics to redefine the treatment paradigm for people living with blood cancers, today announced the pricing of its previously announced underwritten public offering of shares of its common stock. Galecto is selling a total of 14,473,685 shares of common stock at a public offering price of $19.00 per share. In addition, Galecto has granted the underwriters a 30-day option to purchase an additional 2,171,052 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to Galecto from the offering are expected to be approximately $275 million, before deducting underwriting discounts and commissions and offering expenses payable by Galecto and assuming no exercise of the underwriters’ option to purchase additional shares.

All of the securities are being offered by Galecto. The offering is expected to close on or about February 12, 2026, subject to customary closing conditions.

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

An automatically effective shelf registration statement relating to these securities was filed with the Securities and Exchange Commission (SEC) on February 10, 2026. This offering is being made only by means of a written prospectus, including a prospectus supplement, forming a part of an effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website, located at www.sec.gov. A copy of the final prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov and, when available, may be obtained from: Jefferies LLC (Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022; telephone: [phone]; or email: [e-mail]); Leerink Partners LLC (Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109; telephone: [phone] ext. 6105; or email: [e-mail]); Evercore Group L.L.C. (Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055; telephone: [phone]; or email: [e-mail]); or Guggenheim Securities, LLC (Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, New York 10017; telephone: [phone]; or email: [e-mail]).