Galera Therapeutics, Inc.

Galera Therapeutics, Inc. implemented a one-for-two hundred reverse stock split of its common stock, effective July 12, 2026. The company's common stock began trading on a split-adjusted basis on the OTCQB Market under the new ticker symbol "GRTXD" on July 13, 2026. This action resulted in a proportionate reduction in the number of shares available under equity plans and issuable upon exercise of outstanding stock options and warrants, with corresponding adjustments to their exercise prices. Fractional shares will be compensated with cash.

Galera Therapeutics, Inc. announced that its board of directors approved a one-for-two hundred (1:200) reverse stock split of its common stock. The reverse stock split is expected to become effective on July 12, 2026, with split-adjusted trading commencing on July 13, 2026. No fractional shares will be issued, with stockholders receiving cash value for any fractional entitlements. The split will also result in proportionate adjustments to shares available under equity incentive plans, outstanding stock options, and warrants.

Galera Therapeutics, Inc. completed the mandatory conversion of all its remaining Series B Non-Voting Convertible Preferred Stock into common stock. A total of 42,839.11 shares of Series B Preferred Stock were converted into 42,839,103 shares of common stock. The company will pay cash in lieu of any fractional shares, and no Series B Preferred Stock remains issued and outstanding after this conversion.

Galera Therapeutics, Inc. has amended its Restated Certificate of Incorporation to increase the number of authorized shares of common stock from 200 million to 400 million. Additionally, the company filed an amendment to provide stockholders with the right to act by written consent. Both charter amendments were approved by stockholders at the Annual Meeting on May 8, 2026, and the Board of Directors also adopted Amended and Restated Bylaws consistent with the written consent right.

Galera Therapeutics, Inc. announced a definitive merger agreement with Obsidian Therapeutics, Inc., which will result in a combined company focused on engineered TIL cell therapies. Concurrently, Galera entered into a securities purchase agreement for a Private Investment in Public Equity (PIPE) financing of approximately $350.0 million. The company also reported a net loss of $1.61 million for Q1 2026 and holds $5.50 million in cash and cash equivalents, with management concluding substantial doubt about its ability to continue as a going concern without the merger.

Galera Therapeutics and Obsidian Therapeutics announced a definitive merger agreement in an all-stock transaction, forming a combined entity named Obsidian Therapeutics, Inc. The merger is supported by an oversubscribed $350 million private placement financing, expected to fund the combined company's operations into the second half of 2028. This funding provides runway through key clinical milestones for Obsidian's lead candidate, OBX-115, including Phase 1 NSCLC data in 1H 2027 and melanoma registration-enabling data by year-end 2027. Galera stockholders will receive a contingent value right for 95% of future milestones from its dismutase mimetics asset.

Galera Therapeutics, Inc. has entered into a definitive Agreement and Plan of Merger with Obsidian Therapeutics, Inc. and Gazelle Parent, Inc. Under the terms, both Galera and Obsidian will merge into subsidiaries of Gazelle Parent, Inc., ultimately becoming wholly-owned subsidiaries of Parent. The transaction is structured to qualify as a tax-free reorganization for U.S. federal income tax purposes.

Galera Therapeutics, Inc. has entered into a definitive Agreement and Plan of Merger with Obsidian Therapeutics, Inc., Gazelle Parent, Inc., and two merger subsidiaries. Under the agreement, both Galera and Obsidian will merge into separate subsidiaries of Gazelle Parent, Inc., with both companies surviving as wholly owned subsidiaries. The transaction is structured to qualify as a tax-free reorganization for U.S. federal income tax purposes, and Obsidian shareholders will receive shares of Parent Common Stock.

Galera Therapeutics, Inc. announced significant changes to its capital structure, including the conversion of 76,479.175 shares of Series B Non-Voting Convertible Preferred Stock into 76,479,164 shares of common stock on April 7, 2026. This conversion substantially increases the company's common share count. Additionally, on April 8, 2026, affiliates of Ikarian Capital, LLC exercised pre-funded warrants to acquire 8,488,229 shares of common stock, contributing approximately $8,488.23 in cash to the company. These actions reflect ongoing adjustments to the company's equity base and the monetization of existing financial instruments.