Galecto Inc
For the period ended Mar 31, 2024. Filed Apr 29, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 29, 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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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(5,477) | $(12,994) |
| Adjustment to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 5 | 18 |
| Stock-based compensation | 1,359 | 1,434 |
| Amortization of premiums and discounts on marketable securities | (12) | (154) |
| Amortization of right of use lease asset | 93 | 121 |
| Accretion of lease liability | 4 | 16 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 252 | (194) |
| Other assets, noncurrent | (582) | (212) |
| Accounts payable | (37) | 200 |
| Accrued expenses and other current liabilities | (1,449) | 2,779 |
| Operating lease liabilities | (92) | (148) |
| Net cash used in operating activities | (5,936) | (9,134) |
| Cash flows from investing activities: | ||
| Purchases of marketable securities | — | (12,751) |
| Proceeds from sale of marketable securities | 5,650 | 14,125 |
| Net cash provided by investing activities | 5,650 | 1,374 |
| Cash flows from financing activities: | ||
| Proceeds from issuance of common stock, net of issuance costs | — | 23 |
| Net cash provided by financing activities | — | 23 |
| Net decrease in cash and cash equivalents | (286) | (7,737) |
| Effect of exchange rate changes on cash and cash equivalents | (88) | 19 |
| Cash and cash equivalents, beginning of period | 21,465 | 32,786 |
| Cash and cash equivalents, end of period | $21,091 | $25,068 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for taxes | $— | $— |
| Supplemental disclosures of noncash activities: | ||
| Operating lease liabilities arising from obtaining right-of-use assets | $— | $— |
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