Galecto Inc
For the period ended Dec 31, 2023. Filed Mar 8, 2024.
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FY2023 · Filed Mar 8, 2024
DMRA$24.15+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(in thousands)
| Year EndedDecember 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities | ||
| Net loss | $(38,349) | $(61,624) |
| Adjustment to reconcile net loss to net cash used in operating activities: | ||
| Depreciation of equipment | 269 | 42 |
| Gain on sale of equipment | (64) | — |
| Stock-based compensation | 5,427 | 5,571 |
| Amortization of premiums and discounts on marketable securities | (431) | 566 |
| Net loss on sale of marketable securities | — | 70 |
| Amortization of right of use lease asset | 561 | 448 |
| Accretion of lease liability | 46 | 58 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 65 | 6,232 |
| Other assets, non-current | 1,148 | (257) |
| Accounts payable | (1,648) | 1,819 |
| Accrued expenses and other current liabilities | (3,335) | 4,666 |
| Operating lease liabilities | (600) | (523) |
| Net cash used in operating activities | (36,911) | (42,932) |
| Cash flows from investing activities | ||
| Purchases of marketable securities | (25,937) | (44,865) |
| Proceeds from sale of marketable securities | 48,184 | 57,445 |
| Proceeds from the sale of equipment | 83 | — |
| Purchases of property and equipment | — | (196) |
| Net cash provided by investing activities | 22,330 | 12,384 |
| Cash flows from financing activities | ||
| Proceeds from issuance of common stock, net of issuance costs | 2,876 | 507 |
| Net cash provided by financing activities | 2,876 | 507 |
| Net decrease in cash and cash equivalents | (11,705) | (30,041) |
| Effect of exchange rate changes on cash and cash equivalents | 384 | 264 |
| Cash and cash equivalents, beginning of year | 32,786 | 62,563 |
| Cash and cash equivalents, end of year | $21,465 | $32,786 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for taxes | $— | $— |
| Supplemental disclosures of noncash activities: | ||
| Operating lease liability arising from obtaining right-of-use assets | $— | $488 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.