On March 19, 2026 Damora Therapeutics, Inc. (formerly Galecto, Inc.) ("Damora" or the "Company") (NASDAQ: DMRA), a biotechnology company working to fundamentally redefine care for patients with blood disorders, reported its operating and financial results for the year ended December 31, 2025, and recent corporate highlights.

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"At Damora Therapeutics, we strive to rapidly bring forward best-in-class medicines to dramatically improve the lives of patients with blood disorders. Today, we are well on the path to achieving our goal based on recent progress, including the acquisition of three highly innovative mutant calreticulin (mutCALR) targeted therapies and two oversubscribed financings extending our cash runway into Phase 3 development," said Sherwin Sattarzadeh, Chief Operating Officer of Damora Therapeutics. "With this strong foundation in place, we are on track to submit an IND or CTA for our lead program DMR-001 in mutCALR-driven essential thrombocythemia (ET) and myelofibrosis (MF) by mid-2026 and subsequently deliver important clinical datasets next year."

Corporate Highlights

Completed the acquisition of Damora Therapeutics in November 2025, adding a pipeline of differentiated therapeutics targeting mutCALR-driven MPNs, including lead candidate DMR-001, and additional programs DMR-002 and DMR-003, supported by gross proceeds of approximately $285 million concurrent private financing.

Strengthened the leadership team in January 2026 with the appointments of Sherwin Sattarzadeh as Chief Operating Officer and Becker Hewes, M.D. as Chief Medical Officer, adding deep hematology/oncology drug development experience.

Strengthened the balance sheet with gross proceeds of approximately $316 million from a public offering completed in February 2026.

Announced the Company’s name change to Damora Therapeutics, Inc., with its common stock beginning to trade on Nasdaq under the ticker symbol "DMRA" in March 2026.

Anticipated Milestones

Damora anticipates the following upcoming milestones across its mutCALR programs:

DMR-001: IND or CTA submission expected in mid-2026
DMR-002: IND or CTA submission expected in the second half of 2026
DMR-003: IND or CTA submission expected in 2027
Two clinical proof-of-concept datasets for DMR-001 anticipated beginning mid-2027

Full-Year 2025 Financial Results

Cash Position: Cash and cash equivalents were approximately $257.6 million as of December 31, 2025. Including the proceeds from the public offering completed in February 2026, the Company had approximately $535 million in cash and cash equivalents as of February 28, 2026, and anticipates that its cash and cash equivalents will be sufficient to fund operations into Phase 3 development of DMR-001.

R&D Expenses: Research and development expenses were $26.9 million for the year ended December 31, 2025, compared to $6.4 million for the year ended December 31, 2024. The increase was primarily related to costs associated with warrants granted pursuant to the Company’s antibody discovery and option agreement, increased preclinical study and clinical trial-related expenses, increased chemistry, manufacturing and control (CMC) activities, and other research and development costs.

G&A Expenses: General and administrative expenses were $9.7 million for the year ended December 31, 2025, compared to $10.5 million for the year ended December 31, 2024. The decrease was primarily related to decreased stock-based compensation costs.

Net Loss: Net loss for the year ended December 31, 2025, was $209.8 million, compared to $21.4 million for the year ended December 31, 2024. The increase in net loss was primarily related to the recognition of acquired in-process research and development costs of $174.3 million from the acquisition of Damora Therapeutics, which was accounted for as an asset acquisition.

(Press release, Damora Therapeutics, MAR 19, 2026, View Source [SID1234663772])