Galera Therapeutics | 10-Q: FY2025 Q3 Revenue: USD 0

Revenue: As of FY2025 Q3, the actual value is USD 0.

EPS: As of FY2025 Q3, the actual value is USD -0.01.

EBIT: As of FY2025 Q3, the actual value is USD -1.484 M.

Net Loss: For the three months ended September 30, 2025, net loss was $1.4 million, compared to $5.6 million for the same period in 2024. For the nine months ended September 30, 2025, net loss was $4.1 million, compared to $14.0 million for the same period in 2024.
Research and Development Expenses: Decreased by $0.2 million from $0.3 million for the three months ended September 30, 2024, to $0.1 million for the same period in 2025. For the nine months ended September 30, 2025, R&D expenses decreased by $2.9 million from $3.2 million in 2024 to $0.3 million.
General and Administrative Expenses: Decreased by $2.1 million from $3.4 million for the three months ended September 30, 2024, to $1.3 million for the same period in 2025. For the nine months ended September 30, 2025, G&A expenses decreased by $5.1 million from $9.3 million in 2024 to $4.2 million.

Operating Cash Flow: Net cash used in operating activities was $4.5 million for the nine months ended September 30, 2025, compared to $9.8 million for the same period in 2024.
Investing Cash Flow: No significant investing activities for the nine months ended September 30, 2025. In 2024, investing activities provided $4,000 in cash proceeds from the sale of property and equipment.
Financing Cash Flow: Net cash provided by financing activities was $0.6 million for the nine months ended September 30, 2025, from the sale of common stock in a private placement in December 2024.

Write-off of Acquired Intangible Asset and Goodwill: In August 2024, the Company recognized non-cash impairment charges of $2.3 million for IPR&D and $0.9 million for goodwill.
Gain on Litigation Settlement: Recognized a $1.0 million gain during the three and nine months ended September 30, 2024.

Strategic Shift: Following the sale of dismutase mimetics assets to Biossil, the company has shifted its focus to developing a pan-inhibitor of nitric oxide synthase (NOS) for treating advanced breast cancer, including metaplastic breast cancer (MpBC) and triple-negative breast cancer (TNBC).
Clinical Trials: The lead program is a Phase ¹⁄₂ trial of the pan-NOS inhibitor in combination with nab-paclitaxel and alpelisib for MpBC, funded by a National Institutes of Health (NIH) grant.

Asset Sale: In October 2025, the company sold its assets related to avasopasem and rucosopasem to Biossil, Inc., receiving an upfront payment of $3.5 million and contingent value rights of up to $105.0 million.

Funding and Capital Requirements: The company expects its existing cash and cash equivalents as of September 30, 2025, and the $3.5 million received from the sale to Biossil will fund its operating expenses for at least twelve months. Future capital requirements will depend on strategic alternatives, including potential strategic transactions or continued product development.