--- title: "Galera Therapeutics | 10-Q: FY2026 Q1 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/286406532.md" datetime: "2026-05-14T11:17:32.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286406532.md) - [en](https://longbridge.com/en/news/286406532.md) - [zh-HK](https://longbridge.com/zh-HK/news/286406532.md) --- # Galera Therapeutics | 10-Q: FY2026 Q1 Revenue: USD 0 Revenue: As of FY2026 Q1, the actual value is USD 0. EPS: As of FY2026 Q1, the actual value is USD -0.01. EBIT: As of FY2026 Q1, the actual value is USD -1.704 M. Galera Therapeutics, Inc. operates as a single operating and reportable segment at the consolidated level, with the CEO serving as the chief operating decision-maker. #### Operating Expenses - **Research and Development (R&D) Expense**: Decreased to $15 thousand for the three months ended March 31, 2026, from $93 thousand for the same period in 2025, following the sale of dismutase mimetics assets in October 2025. - **General and Administrative (G&A) Expense**: Decreased by $0.3 million to $1,640 thousand for the three months ended March 31, 2026, compared to $1,870 thousand for the same period in 2025, primarily due to lower legal and professional fees. - **Loss from Operations**: Improved to - $1,655 thousand for the three months ended March 31, 2026, from - $1,963 thousand for the same period in 2025. #### Other Income/Loss - **Interest Income**: Decreased to $49 thousand for the three months ended March 31, 2026, from $77 thousand for the same period in 2025, attributed to reduced investable cash and lower interest rates. - **Change in Fair Value of Warrant Liability**: No change was recognized for the three months ended March 31, 2026, compared to a gain of $294 thousand for the same period in 2025, prior to the reclassification of liability-classified warrants to equity. #### Net Loss - **Net Loss**: Was - $1,606 thousand for the three months ended March 31, 2026, compared to - $1,592 thousand for the same period in 2025. - **Net Loss Attributable to Common Stockholders**: Was - $726 thousand for the three months ended March 31, 2026, compared to - $720 thousand for the same period in 2025. - **Net Loss Attributable to Series B Redeemable Convertible Preferred Stockholders**: Was - $880 thousand for the three months ended March 31, 2026, compared to - $872 thousand for the same period in 2025. - **Accumulated Deficit**: Stood at - $308.9 million as of March 31, 2026, increasing from - $307.3 million as of December 31, 2025. #### Cash Flow - **Net Cash Used in Operating Activities**: Was - $875 thousand for the three months ended March 31, 2026, an improvement from - $2,238 thousand for the same period in 2025. - **Net Cash Provided by Financing Activities**: Was $0 for the three months ended March 31, 2026, compared to $635 thousand for the same period in 2025, which primarily came from the sale of common stock and common stock warrants in a private placement. - **Net Decrease in Cash and Cash Equivalents**: Was - $875 thousand for the three months ended March 31, 2026, compared to - $1,603 thousand for the same period in 2025. - **Cash and Cash Equivalents**: Totaled $5,500 thousand as of March 31, 2026, down from $6,375 thousand as of December 31, 2025. #### Strategic and Operational Highlights - **Asset Sale**: In October 2025, Galera Therapeutics, Inc. sold its dismutase mimetics assets to Biossil, Inc. for an upfront payment of $3.5 million, with potential future regulatory and commercial milestones up to $105.0 million, resulting in a $3.5 million gain on asset sale and a $151.0 million non-cash gain on extinguishment of debt. - **New Core Business Focus**: Following the asset sale, Galera Therapeutics, Inc.’s portfolio is now centered on a pan-inhibitor of nitric oxide synthase (NOS), acquired in December 2024, with the lead program being an investigator-sponsored Phase 1⁄2 trial for metaplastic breast cancer (MpBC) and other refractory subsets of triple-negative breast cancer (TNBC). - **Merger Agreement and PIPE Financing**: In April 2026, Galera Therapeutics, Inc. entered into a merger agreement with Obsidian Therapeutics, Inc., with the combined entity focusing on engineered tumor infiltrating lymphocyte (TIL) cell therapies and planning a Private Investment in Public Equity (PIPE) financing of approximately $350.0 million. - **Contingent Value Rights (CVRs)**: Stockholders of Galera Therapeutics, Inc. will receive CVRs for potential future net proceeds from the tilarginine product candidate (80% over five years) and from the Biossil asset sale (95% over ten years). #### Future Outlook and Liquidity Galera Therapeutics, Inc. has incurred recurring losses and negative cash flows, with an accumulated deficit of - $308.9 million as of March 31, 2026, and its existing cash and cash equivalents are expected to fund operations into the first quarter of 2027, but not for more than one year from the filing date, indicating substantial doubt about its ability to continue as a going concern. The company’s ability to continue operations relies on the timely completion of the Obsidian Merger and the related PIPE financing; otherwise, it may need to pursue other strategic alternatives, including raising capital on unfavorable terms, significantly reducing or discontinuing operations, or a voluntary dissolution. ### Related Stocks - [GRTX.US](https://longbridge.com/en/quote/GRTX.US.md) ## Related News & Research - [Galera Therapeutics Expands Share Authorization, Enhances Stockholder Rights](https://longbridge.com/en/news/286553446.md) - [Pelthos Therapeutics GAAP EPS of -$3.09, revenue of $10.7M](https://longbridge.com/en/news/286430906.md) - [Atrium Therapeutics Reports First Quarter 2026 Financial Results | RNA Stock News](https://longbridge.com/en/news/286465472.md) - [Nuo Therapeutics Announces First Quarter 2026 Financial Results and Provides Business Update | AURX Stock News](https://longbridge.com/en/news/286469940.md) - [Crombie Reit Announces May 2026 Monthly Distribution | CROMF Stock News](https://longbridge.com/en/news/286603129.md)