$GLTO
Galecto, Inc.

2021 Form 10-K Financial Statement

#000156459022005569 Filed on February 17, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $13.74M $3.550M $9.010M
YoY Change 52.49% 1513.64% 267.76%
% of Gross Profit
Research & Development $38.49M $7.750M $24.63M
YoY Change 56.28% -1.27% 24.77%
% of Gross Profit
Depreciation & Amortization $20.00K
YoY Change
% of Gross Profit
Operating Expenses $38.49M $11.30M $33.64M
YoY Change 14.42% -54.53% -13.69%
Operating Profit -$52.23M $33.64M
YoY Change -255.27% -13.69%
Interest Expense $475.0K -$280.0K -$1.200M
YoY Change -139.58% 133.33% -318.18%
% of Operating Profit -3.57%
Other Income/Expense, Net $475.0K $0.00 -$1.200M
YoY Change -139.58% -100.0% -148.7%
Pretax Income -$51.75M -$11.58M -$34.84M
YoY Change 48.55% -52.58% -4.57%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$51.75M -$11.58M -$34.84M
YoY Change 48.55% -52.58% -4.57%
Net Earnings / Revenue
Basic Earnings Per Share -$2.05
Diluted Earnings Per Share -$2.049M -$458.4K -$1.379M
COMMON SHARES
Basic Shares Outstanding 25.26M
Diluted Shares Outstanding 25.26M

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.2M $163.6M $163.6M
YoY Change -38.76% 1347.79%
Cash & Equivalents $62.56M $163.6M $163.6M
Short-Term Investments $37.63M
Other Short-Term Assets $2.062M $1.800M $1.800M
YoY Change 14.56% 500.0%
Inventory
Prepaid Expenses
Receivables $5.569M $1.600M $1.600M
Other Receivables $2.280M $2.200M $2.200M
Total Short-Term Assets $110.1M $169.3M $169.3M
YoY Change -34.97% 201.89% 201.78%
LONG-TERM ASSETS
Property, Plant & Equipment $1.037M $900.0K $900.0K
YoY Change 15.22% 200.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $9.048M
YoY Change
Other Assets $2.028M $1.162M $1.400M
YoY Change 44.86% 600.0%
Total Long-Term Assets $12.11M $2.296M $2.300M
YoY Change 426.65% 334.03% 360.0%
TOTAL ASSETS
Total Short-Term Assets $110.1M $169.3M $169.3M
Total Long-Term Assets $12.11M $2.296M $2.300M
Total Assets $122.2M $171.6M $171.6M
YoY Change -28.78% 203.12% 203.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.531M $2.851M $2.900M
YoY Change -47.21% -14.36% -12.12%
Accrued Expenses $1.000M $2.715M $1.400M
YoY Change -28.57% -40.95% 600.0%
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 $4.544M $5.600M $5.600M
YoY Change -18.86% -29.36% -29.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $448.0K $500.0K $500.0K
YoY Change -10.4% 150.0%
Total Long-Term Liabilities $448.0K $500.0K $500.0K
YoY Change -10.4% 150.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.544M $5.600M $5.600M
Total Long-Term Liabilities $448.0K $500.0K $500.0K
Total Liabilities $4.992M $6.107M $6.100M
YoY Change -18.16% -24.96% -24.69%
SHAREHOLDERS EQUITY
Retained Earnings -$104.4M
YoY Change 50.11%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $117.2M $165.5M $165.5M
YoY Change
Total Liabilities & Shareholders Equity $122.2M $171.6M $171.6M
YoY Change -28.78% 203.12% 203.18%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income -$51.75M -$11.58M -$34.84M
YoY Change 48.55% -52.58% -4.57%
Depreciation, Depletion And Amortization $20.00K
YoY Change
Cash From Operating Activities -$52.31M -$14.51M -$38.20M
YoY Change 36.92% 175.86% 97.68%
INVESTING ACTIVITIES
Capital Expenditures $223.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$47.83M $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$48.05M $0.00 $0.00
YoY Change -100.0% -100.0%
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 91.79M 187.4M
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -52.31M -14.51M -38.20M
Cash From Investing Activities -48.05M 0.000 0.000
Cash From Financing Activities 0.000 91.79M 187.4M
Net Change In Cash -100.4M 77.28M 149.2M
YoY Change -167.27% -1482.47% -859.14%
FREE CASH FLOW
Cash From Operating Activities -$52.31M -$14.51M -$38.20M
Capital Expenditures $223.0K
Free Cash Flow -$52.53M
YoY Change

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<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Principles of consolidation </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s consolidated financial statements for 2021 and 2020 include Galecto, Inc. and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. </p>
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of estimates </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of expenses during the reporting periods. The Company bases its estimates on historical experience and various other assumptions that management believes to be reasonable under the circumstances. Significant items subject to such estimates and assumptions include contract research accruals, accounting for stock-based compensation and valuation of the Company’s deferred tax assets. Changes in estimates are recorded in the period in which they become known. The Company’s actual results could differ from those estimates. </p>
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.004
CY2021 glto Original Maturities At Date Of Purchase
OriginalMaturitiesAtDateOfPurchase
three months or less
CY2021Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
49600000
CY2020Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
142900000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
300000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0
CY2021 us-gaap Dividend Income Operating
DividendIncomeOperating
0
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
0
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
96302000
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
142904000
CY2021Q4 glto Contract Research And Development Cost Current
ContractResearchAndDevelopmentCostCurrent
5569000
CY2020Q4 glto Contract Research And Development Cost Current
ContractResearchAndDevelopmentCostCurrent
1620000
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1728000
CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1642000
CY2021Q4 glto Research And Development Tax Credit Receivable Current
ResearchAndDevelopmentTaxCreditReceivableCurrent
1682000
CY2021Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
598000
CY2020Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
401000
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
334000
CY2020Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
242000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9911000
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5713000
CY2021 glto Operating Lease Rent Expense
OperatingLeaseRentExpense
500000
CY2020 glto Operating Lease Rent Expense
OperatingLeaseRentExpense
200000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
496000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
213000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
513000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
213000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
411000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
713000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
223000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
20000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
203000
CY2021 us-gaap Depreciation
Depreciation
20000
CY2020 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
0
CY2021Q4 glto Contract Research And Development Costs Current
ContractResearchAndDevelopmentCostsCurrent
1575000
CY2020Q4 glto Contract Research And Development Costs Current
ContractResearchAndDevelopmentCostsCurrent
967000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
601000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
399000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
374000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
438000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
343000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3013000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2715000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
25261832
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
304142
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.58
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 Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2538411
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.67
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
20009769
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1631000
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
9.49
CY2021 glto Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodIntrinsicValue
8160
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
170683
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.63
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3998728
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.51
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1357655
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3694586
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
6.60
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
855324
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1439589
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
4.13
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
855324
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4480000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1009000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.007
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.905
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.901
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-11252000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-7544000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-40500000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-27293000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-51752000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-34837000
CY2021 us-gaap Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
The Company also had NOLs in Denmark of $115.3 million which have an indefinite life. Federal and state NOLs and R&D credit and ODC carryforwards are also subject to annual limitations in the event that cumulative changes in the ownership interests of significant stockholders exceed 50% over a three-year period, as defined under Sections 382 and 383 of the Internal Revenue Code of 1986.
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.013
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.029
CY2021 glto Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
0.035
CY2020 glto Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
0.025
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.023
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.008
CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.008
CY2021 glto Effective Income Tax Rate Reconciliation Orphan Drug Credit
EffectiveIncomeTaxRateReconciliationOrphanDrugCredit
0.057
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.323
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.295
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
31022000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
18471000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
1191000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
2019000
CY2020Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
809000
CY2021Q4 glto Deferred Tax Assets Orphan Drug Credit
DeferredTaxAssetsOrphanDrugCredit
3948000
CY2021Q4 glto Deferred Tax Assets Bonus Compensation
DeferredTaxAssetsBonusCompensation
274000
CY2020Q4 glto Deferred Tax Assets Bonus Compensation
DeferredTaxAssetsBonusCompensation
322000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
36435000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
21621000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
36435000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
21621000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
36400000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
21600000
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
14800000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-51752000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-34837000
CY2021 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.05
CY2020 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-7.62
CY2020 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4572702
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
100000
CY2021 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0
CY2020 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0

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