$GLTO
Galecto, Inc.

2021 Q2 Form 10-Q Financial Statement

#000156459021041147 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 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 $3.633M $1.820M $1.120M
YoY Change 99.62%
% of Gross Profit
Research & Development $8.635M $4.520M $4.710M
YoY Change 91.04%
% of Gross Profit
Depreciation & Amortization $2.000K $0.00
YoY Change
% of Gross Profit
Operating Expenses $12.27M $6.340M $5.830M
YoY Change 93.5%
Operating Profit -$12.27M -$5.830M
YoY Change
Interest Expense -$34.00K $400.0K $160.0K
YoY Change -108.5%
% of Operating Profit
Other Income/Expense, Net -$34.00K $156.0K
YoY Change
Pretax Income -$12.30M -$5.940M -$5.670M
YoY Change 107.1%
Income Tax
% Of Pretax Income
Net Earnings -$12.30M -$5.935M -$5.674M
YoY Change 107.28%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$487.0K -$238.9K -$230.6K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $101.8M $35.80M
YoY Change 184.4%
Cash & Equivalents $68.64M $35.84M $42.78M
Short-Term Investments $33.18M
Other Short-Term Assets $911.0K $400.0K
YoY Change 127.75%
Inventory
Prepaid Expenses
Receivables $3.489M $2.100M
Other Receivables $1.495M $1.100M
Total Short-Term Assets $107.7M $39.40M
YoY Change 173.35%
LONG-TERM ASSETS
Property, Plant & Equipment $176.0K $500.0K
YoY Change -64.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $35.86M
YoY Change
Other Assets $1.126M $200.0K
YoY Change 463.0%
Total Long-Term Assets $39.12M $1.600M
YoY Change 2345.13%
TOTAL ASSETS
Total Short-Term Assets $107.7M $39.40M
Total Long-Term Assets $39.12M $1.600M
Total Assets $146.8M $41.00M
YoY Change 258.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.585M $1.700M
YoY Change -6.76%
Accrued Expenses $3.170M $800.0K
YoY Change 296.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.800M $3.500M
YoY Change 37.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $635.0K $400.0K
YoY Change 58.75%
Total Long-Term Liabilities $635.0K $400.0K
YoY Change 58.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.800M $3.500M
Total Long-Term Liabilities $635.0K $400.0K
Total Liabilities $5.390M $3.900M
YoY Change 38.21%
SHAREHOLDERS EQUITY
Retained Earnings -$130.0M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $141.4M -$82.55M -$77.03M
YoY Change
Total Liabilities & Shareholders Equity $146.8M $41.00M
YoY Change 258.1%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income -$12.30M -$5.935M -$5.674M
YoY Change 107.28%
Depreciation, Depletion And Amortization $2.000K $0.00
YoY Change
Cash From Operating Activities -$11.17M -$7.130M -$7.978M
YoY Change 56.66% -16.12%
INVESTING ACTIVITIES
Capital Expenditures -$110.0K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $5.243M $0.00
YoY Change
Cash From Investing Activities $5.123M $0.00
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 0.000 0.000 39.67M
YoY Change
NET CHANGE
Cash From Operating Activities -11.17M -7.130M -7.978M
Cash From Investing Activities 5.123M 0.000
Cash From Financing Activities 0.000 0.000 39.67M
Net Change In Cash -6.047M -7.130M 31.69M
YoY Change -15.19% -16.12%
FREE CASH FLOW
Cash From Operating Activities -$11.17M -$7.130M -$7.978M
Capital Expenditures -$110.0K $0.00
Free Cash Flow -$11.06M -$7.978M
YoY Change

Facts In Submission

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ContractResearchAndDevelopmentCostsCurrent
749000
CY2020Q4 glto Contract Research And Development Costs Current
ContractResearchAndDevelopmentCostsCurrent
967000
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
453000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
374000
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
332000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
343000
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3170000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2715000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
304142
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2235285
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.67
CY2020 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1016
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.95
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
20009769
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1402000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
10.40
glto Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodIntrinsicValue
3360
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
170683
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.63
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.67
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3999689
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
6.78
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
3942504
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.25
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2044475
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
987000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
374000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2018000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
374000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.007
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.004
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.905
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.890
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.02
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-44.66
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25261832
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-12302000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-5935000
us-gaap Net Income Loss
NetIncomeLoss
-25647000
us-gaap Net Income Loss
NetIncomeLoss
-11609000
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.49
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-22.83
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
259966
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
259966

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