Galecto Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

BOSTON, March 04, 2026 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ: GLTO), a biotechnology company working to redefine care for people with hematologic disorders, today announced that it granted equity awards on March 2, 2026, to four newly-hired, non-executive employees. The inducement grants were approved by Galecto’s independent Compensation Committee and were made as material inducements to such individuals’ acceptance of employment with Galecto in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement grants consist of non-qualified stock options to purchase an aggregate of 153,700 shares of the Galecto’s common stock with a 10-year term and an exercise price of $29.58 per share. The options vest as to 25% on the first anniversary of the applicable grant date and in equal monthly installments for the following 36 months. The inducement grants are subject to the terms and conditions of the 2022 Galecto, Inc. Inducement Plan, and the terms and conditions of a stock option agreement.

About Galecto, Inc.

Galecto, Inc. is a clinical-stage biotechnology company advancing a pipeline of antibody therapeutics to transform treatment of a broad spectrum of hematological cancers. Galecto’s pipeline includes a highly differentiated mutant calreticulin (mut-CALR)-driven myeloproliferative neoplasm portfolio targeting essential thrombocythemia and myelofibrosis. Galecto’s pipeline also includes GB3226, a first-in-class preclinical dual inhibitor of ENL-YEATS and FLT3 for the treatment of multiple genetic subsets of acute myeloid leukemia.