Is Galecto a Winner in the Biotech Industry?

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However, all GLTO’s candidates, including GB2064 and GB1211, are in early stages of development. Its stock has declined by nearly 59% over the past six months and 30.6% over the past three months to close yesterday’s trading session at $5.77. But its 18.7% returns over the past month indicate investors’ optimism about GLTO’s progress on the pipeline candidates.

Overall, investors’ interest in the biotech space has been growing, as evidenced by the iShares Nasdaq Biotechnology ETF’s (IBB) 5.8% returns over the past month compared to the SPDR S&P 500 Trust ETF’s (SPY) 1.3% gains. However, GLTO may not be able to continue rallying given its weak financials.

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