Galecto (GLTO) 10% owner Orbimed Advisors sold 39,200 shares for $114K at $2.92

Insider transactions reported

Orbimed Advisors Llc (10% owner at Galecto Inc., GLTO) reported that they sold 39,200 shares for $114K at $2.92 on Jul 25, 2023. After these transactions the filing shows 2,258,987 shares held indirectly (See footnotes).

Reporting person

Orbimed Advisors Llc

Holdings before and after

• Common Stock: 169,953 to 2,258,987 indirect, See footnotes

Footnotes from the filing

1. 1. Represents the weighted average sale price of the shares of the Issuer's common stock sold, ranging from a low of $2.81 to a high of $3.12 per share. The Reporting Persons undertake, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer, to provide full information regarding the number of shares sold at each separate price.
2. 2. These securities are held of record by OrbiMed Genesis Master Fund, L.P. ( OrbiMed Genesis ). OrbiMed Genesis GP LLC ( Genesis GP ) is the general partner of OrbiMed Genesis and OrbiMed Advisors LLC ( OrbiMed Advisors ) is the managing member of Genesis GP. By virtue of such relationships, OrbiMed Advisors and Genesis GP may be deemed to have voting power and investment power over the securities held by OrbiMed Genesis and, as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the securities held by OrbiMed Genesis.
3. 3. These securities are held of record by OrbiMed Israel Partners II, L.P. ( OIP II ). OrbiMed Israel GP II, L.P. ( OrbiMed Israel ) is the general partner of OIP II and OrbiMed Advisors Israel II Limited ( OrbiMed Limited ) is the general partner of OrbiMed Israel. By virtue of such relationships, OrbiMed Limited and OrbiMed Israel may be deemed to have voting power and investment power over the securities held by OIP II and, as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Limited exercises voting and investment power through a management committee comprised of Carl L. Gordon, David P. Bonita, and Erez Chimovits, each of whom disclaims beneficial ownership of the securities held by OIP II.
4. 4. These securities are held of record by OrbiMed Private Investments VII, LP ( OPI VII ). OrbiMed Capital GP VII LLC ( GP VII ) is the general partner of OPI VII and OrbiMed Advisors is the managing member of GP VII. By virtue of such relationships, OrbiMed Advisors and GP VII may be deemed to have voting power and investment power over the securities held by OPI VII and, as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the securities held by OPI VII.
5. 5. Each of OrbiMed Advisors, Genesis GP, OrbiMed Israel, OrbiMed Limited, and GP VII disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the Exchange Act ), except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that any such person or entity, including the Reporting Persons, is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

Transaction codes in this filing

Open-market sale:

Code S marks a sale in the open market or a private deal. The insider received cash for these securities.

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