09:16 AM EST, 11/10/2025 (MT Newswires) -- Galecto ( GLTO ) shares were up more than 342% in recent Monday premarket activity after the company said it completed the acquisition of Damora Therapeutics.

The company said it raised about $285 million in a private placement to fund operations into 2029, including the development of Damora's antibody therapies for blood cancers.

Galecto ( GLTO ) said it plans to advance Damora's lead antibody candidate, DMR-001, into first-in-human studies in 2026, with early clinical data expected in 2027.

The company said it will also continue development of its acute myeloid leukemia drug candidate GB3226, for which it plans to file an investigational new drug application in Q1 next year.