GRTX - Mergers and acquisitions

Galera's development strategy shifts from toxicity reduction to anti-cancer therapeutics, with three trials in patients with highly resistant subsets of advanced breast cancer. Lead program is Phase 1/2 trial of Nova Pharmaceutical's Clinical Stage Nitric Oxide Synthase (NOS) Inhibitor on top of standard-of-care nab-paclitaxel and alpelisib in metaplastic breast cancer. Concurrent financing when added to Galera's existing cash balance, is anticipated to fund operations through data readout of its lead program and into 2026. Galera intends to leverage NCI grants, academic partnerships and the I-SPY 2 network for efficient and cost-effective clinical dataset expansion. MALVERN, Pa.

MALVERN, Pa., May 03, 2024 (GLOBE NEWSWIRE) -- Galera Therapeutics, Inc. (NASDAQ:GRTX), a biopharmaceutical company focused on developing a pipeline of novel, proprietary therapeutics that have the potential to transform radiotherapy in cancer, today announced that its Board of Directors (the "Board") has unanimously resolved to adopt a limited duration stockholder rights agreement (the "Rights Agreement") to protect stockholder interests. The Board resolved to adopt the Rights Agreement in response to recent accumulations of the Company's common stock and the Rights Agreement is intended to enable all Galera stockholders to realize the full potential value of their investment in the comp