Damora Therapeutics, Inc.

Damora Therapeutics reported a net loss of $(27.8) million for Q1 2026, a significant increase from the prior year, driven by higher R&D and G&A expenses. Despite the increased loss, the company's cash and cash equivalents surged to $532.9 million as of March 31, 2026, primarily due to net proceeds of $295.5 million from a February 2026 public offering of common stock. The company also announced a strategic shift to focus on its mutCALR portfolio, deprioritizing GB3226 development.

Damora Therapeutics announced that Lori Firmani ceased serving as Chief Financial Officer, principal financial officer, and principal accounting officer, effective May 1, 2026. She will receive separation benefits, including a lump sum payment and full equity award acceleration, subject to a separation agreement. Concurrently, Brian Burkavage, the company's Senior Vice President, Finance, was appointed to succeed her as principal financial and accounting officer.

Damora Therapeutics, Inc. announced its 2026 Annual Meeting of Stockholders will be held virtually on Wednesday, June 17, 2026, at 9:00 a.m. Eastern Time. Stockholders of record as of April 22, 2026, are eligible to vote on proposals including the election of two Class III directors, advisory votes on executive compensation and its frequency, and the ratification of Ernst & Young LLP as the independent auditor. The company also noted its name change from Galecto, Inc. to Damora Therapeutics, Inc. on March 10, 2026, following an acquisition in November 2025.

Damora Therapeutics, Inc. announced the dismissal of EY Godkendt Revisionspartnerselskab (EY Denmark) as its independent registered public accounting firm, effective April 17, 2026. EY Denmark had been the company's auditor since 2019. The company stated that there were no disagreements or reportable events with EY Denmark during the two most recent fiscal years and the subsequent interim period. EY Denmark's reports for fiscal years 2025 and 2024 did not contain adverse opinions, though the 2024 report included an explanatory paragraph regarding the company's ability to continue as a going concern.