$GLTO
Galecto, Inc.

2022 Q3 Form 10-Q Financial Statement

#000095017022013434 Filed on July 29, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.128M $3.414M $3.704M
YoY Change -1.97% -6.03% 4.04%
% of Gross Profit
Research & Development $10.49M $13.71M $13.24M
YoY Change 7.65% 58.74% 32.48%
% of Gross Profit
Depreciation & Amortization $6.000K $7.000K $8.000K
YoY Change -25.0% 250.0% 300.0%
% of Gross Profit
Operating Expenses $13.62M $17.12M $16.94M
YoY Change 5.28% 39.56% 24.99%
Operating Profit -$13.62M -$17.12M -$16.94M
YoY Change 5.28% 39.56% 24.99%
Interest Expense -$108.0K $234.0K $1.000K
YoY Change -144.44% -788.24% -99.52%
% of Operating Profit
Other Income/Expense, Net -$108.0K $234.0K $1.000K
YoY Change -144.44% -788.24% -99.52%
Pretax Income -$13.73M -$16.89M -$16.94M
YoY Change 8.14% 37.27% 26.88%
Income Tax
% Of Pretax Income
Net Earnings -$13.73M -$16.89M -$16.94M
YoY Change 8.14% 37.27% 26.92%
Net Earnings / Revenue
Basic Earnings Per Share -$0.54 -$0.67 -$0.67
Diluted Earnings Per Share -$0.54 -$668.3K -$670.5K
COMMON SHARES
Basic Shares Outstanding 25.40M 25.26M 25.26M
Diluted Shares Outstanding 25.49M 25.27M 25.26M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.08M $79.03M $93.60M
YoY Change -32.37% -22.38% -15.17%
Cash & Equivalents $28.34M $29.80M $45.39M
Short-Term Investments $40.75M $49.23M $48.21M
Other Short-Term Assets $291.0K $962.0K $1.479M
YoY Change -20.27% 5.6% -7.56%
Inventory
Prepaid Expenses
Receivables $732.0K $1.068M $785.0K
Other Receivables $1.092M $1.146M $1.170M
Total Short-Term Assets $71.20M $82.20M $97.00M
YoY Change -33.46% -23.68% -17.02%
LONG-TERM ASSETS
Property, Plant & Equipment $338.0K $205.0K $238.0K
YoY Change 57.94% 16.48% -76.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.829M $6.888M $8.160M
YoY Change -73.21% -80.79% -78.86%
Other Assets $2.807M $3.009M $2.798M
YoY Change 105.79% 167.23% 150.72%
Total Long-Term Assets $10.83M $10.66M $11.93M
YoY Change -62.51% -72.76% -71.46%
TOTAL ASSETS
Total Short-Term Assets $71.20M $82.20M $97.00M
Total Long-Term Assets $10.83M $10.66M $11.93M
Total Assets $82.03M $92.86M $108.9M
YoY Change -39.63% -36.75% -31.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.907M $2.815M $3.215M
YoY Change -3.74% 77.6% 78.61%
Accrued Expenses $6.951M $4.673M $3.999M
YoY Change 84.77% 47.41% 6.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.900M $7.500M $7.200M
YoY Change 56.14% 56.25% 30.91%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $440.0K $305.0K $402.0K
YoY Change -13.89% -51.97% -19.6%
Total Long-Term Liabilities $440.0K $305.0K $402.0K
YoY Change -13.89% -51.97% -19.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.900M $7.500M $7.200M
Total Long-Term Liabilities $440.0K $305.0K $402.0K
Total Liabilities $9.298M $7.793M $7.616M
YoY Change 48.67% 44.58% 24.85%
SHAREHOLDERS EQUITY
Retained Earnings -$203.7M -$189.9M -$173.1M
YoY Change 42.75% 46.08%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $72.73M $85.07M $101.3M
YoY Change
Total Liabilities & Shareholders Equity $82.03M $92.86M $108.9M
YoY Change -39.63% -36.75% -31.36%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$13.73M -$16.89M -$16.94M
YoY Change 8.14% 37.27% 26.92%
Depreciation, Depletion And Amortization $6.000K $7.000K $8.000K
YoY Change -25.0% 250.0% 300.0%
Cash From Operating Activities -$9.847M -$14.84M -$6.797M
YoY Change 7.51% 32.86% -51.97%
INVESTING ACTIVITIES
Capital Expenditures -$138.0K $26.00K $43.00K
YoY Change 193.62% -123.64% -33.85%
Acquisitions
YoY Change
Other Investing Activities $8.450M -$77.00K -$10.16M
YoY Change 19.11% -101.47% -86.37%
Cash From Investing Activities $8.312M -$51.00K -$10.21M
YoY Change 17.95% -101.0% -86.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 424.0K 18.00K
YoY Change
NET CHANGE
Cash From Operating Activities -9.847M -14.84M -6.797M
Cash From Investing Activities 8.312M -51.00K -10.21M
Cash From Financing Activities 424.0K 18.00K
Net Change In Cash -1.111M -14.87M -17.00M
YoY Change -47.4% 145.96% -80.85%
FREE CASH FLOW
Cash From Operating Activities -$9.847M -$14.84M -$6.797M
Capital Expenditures -$138.0K $26.00K $43.00K
Free Cash Flow -$9.709M -$14.87M -$6.840M
YoY Change 6.55% 34.41% -51.89%

Facts In Submission

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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.44
CY2021Q2 us-gaap Operating Lease Payments
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142000
us-gaap Operating Lease Payments
OperatingLeasePayments
234000
us-gaap Operating Lease Payments
OperatingLeasePayments
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409000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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409000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P2Y2M12D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
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CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
287000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
513000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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229000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
16000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
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CY2022Q2 glto Contract Research And Development Costs Current
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CY2022Q2 us-gaap Accrued Liabilities Current
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M18D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1357655
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1774750
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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glto Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodIntrinsicValue
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y4M24D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y8M12D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
2166299
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
5.49
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y3M18D
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1419000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
987000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2823000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2018000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.017
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.007
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25261832
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25266096
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.905
CY2022Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25270314
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-16887000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-12302000
us-gaap Net Income Loss
NetIncomeLoss
-33825000
us-gaap Net Income Loss
NetIncomeLoss
-25647000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25261832
CY2022Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.67
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.49
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.34
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.02

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