Will Galecto (NASDAQ:GLTO) Spend Its Cash Wisely? [Yahoo! Finance]
Galecto, Inc. (GLTO)
Company Research
Source: Yahoo! Finance
For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. But while history lauds those rare successes, those that fail are often forgotten; who remembers Pets.com? Given this risk, we thought we'd take a look at whether Galecto NASDAQ:GLTO ) shareholders should be worried about its cash burn. For the purposes of this article, cash burn is the annual rate at which an unprofitable company spends cash to fund its growth; its negative free cash flow. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'. View our latest analysis for Galecto When Might Galecto Run Out Of Money? A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. In September 2023, Galecto had US$44m in cash, and was debt-free. Importantly, its cash burn was US$37m over the trailing twelve month
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GLTO
Earnings
- 7/31/23 - Beat
GLTO
Sec Filings
- 4/16/24 - Form PRE
- 3/26/24 - Form 8-K
- 3/8/24 - Form S-8
- GLTO's page on the SEC website