Galecto Plunges 10.2% on CEO Share Sale, Strategic Pivot

On March 26, 2025, Galecto's stock experienced a significant drop of 10.2% in pre-market trading.

Galecto, Inc. recently reported its full-year 2024 financial results, highlighting a strategic review that focuses on oncology and severe liver diseases. The company has acquired global rights to GB3226, a dual ENL-YEATS and FLT3 inhibitor for multiple genetic subsets, as part of its strategic pivot. This acquisition is expected to strengthen Galecto's pipeline and enhance its position in the oncology market.

In addition to its strategic acquisitions, Galecto has also made significant changes to its board of directors. The company appointed Dr. Amy Wechsler to its board, bringing valuable expertise and experience to the team. This move is seen as a positive step towards strengthening the company's leadership and strategic direction.

Galecto's CEO, Hans T. Schambye, recently sold shares worth $7,509, which may have contributed to the recent drop in stock price. However, the company's strategic focus and acquisitions are expected to drive long-term growth and value for shareholders.