$GLTO
Galecto, Inc.

2020 Q3 Form 10-Q Financial Statement

#000156459020056793 Filed on December 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q4 2019 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.520M $220.0K $1.150M
YoY Change 119.13%
% of Gross Profit
Research & Development $7.651M $7.850M $3.674M
YoY Change 108.25%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $10.17M $24.85M $3.674M
YoY Change 176.7%
Operating Profit -$10.17M $4.826M
YoY Change -310.65%
Interest Expense -$1.490M -$120.0K $340.0K
YoY Change -538.24%
% of Operating Profit 7.05%
Other Income/Expense, Net -$1.485M $550.0K $721.0K
YoY Change -305.96%
Pretax Income -$11.65M -$24.42M -$4.110M
YoY Change 183.45%
Income Tax
% Of Pretax Income
Net Earnings -$11.65M -$24.42M -$4.105M
YoY Change 183.82%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$461.2K -$982.3K -$167.1K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $85.30M
YoY Change
Cash & Equivalents $85.33M $11.29M $14.70M
Short-Term Investments
Other Short-Term Assets $1.000M
YoY Change
Inventory
Prepaid Expenses
Receivables $2.900M
Other Receivables $6.900M
Total Short-Term Assets $96.10M $56.08M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $900.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K
YoY Change
Total Long-Term Assets $2.054M $529.0K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $96.10M $56.08M
Total Long-Term Assets $2.054M $529.0K
Total Assets $98.15M $56.61M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.463M $3.329M
YoY Change
Accrued Expenses $3.818M $4.598M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.281M $7.927M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $600.0K
YoY Change
Total Long-Term Liabilities $600.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $8.281M $7.927M
Total Long-Term Liabilities $600.0K
Total Liabilities $8.870M $8.138M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$92.78M -$69.52M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$91.74M -$71.15M -$48.06M
YoY Change
Total Liabilities & Shareholders Equity $98.15M $56.61M
YoY Change

Cashflow Statement

Concept 2020 Q3 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income -$11.65M -$24.42M -$4.105M
YoY Change 183.82%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$8.580M -$5.260M -$5.570M
YoY Change 54.04%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$330.0K
YoY Change
Cash From Investing Activities -$330.0K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 55.93M 0.000 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -8.580M -5.260M -5.570M
Cash From Investing Activities -330.0K
Cash From Financing Activities 55.93M 0.000 0.000
Net Change In Cash 47.35M -5.590M -5.570M
YoY Change -950.09%
FREE CASH FLOW
Cash From Operating Activities -$8.580M -$5.260M -$5.570M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity Incorporation Date Of Incorporation
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2019-10-31
us-gaap Conversion Of Stock Description
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On December 31, 2019, as part of an integrated transaction, Galecto, Inc., Galecto Biotech AB, a Swedish operating company, and PharmAkea, Inc., or PharmAkea, consummated a purchase agreement and plan of merger by and among Galecto, Inc., Galecto Biotech AB and PharmAkea, or the Purchase, whereby Galecto, Inc. (i) acquired the shareholdings of Galecto Biotech AB via a one-for-one exchange of equity between Galecto, Inc. and the shareholders of Galecto Biotech AB in a common control reorganization, and (ii) acquired PharmAkea in principally an all-stock transaction.
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CY2020Q3 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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0.890
us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
The Company’s board of directors and shareholders approved a 2.59970-for-1 stock split of its issued and outstanding common stock and a proportional adjustment to the existing conversion ratios for its preferred stock effective as of October 20, 2020.

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