Galera Therapeutics, Inc.

Galera Therapeutics, Inc. (GRTX) reported net income of $149.0 million for FY 2025, compared to a net loss of $19.0 million in FY 2024, marking a dramatic turnaround. The primary drivers were a $151.0 million gain on extinguishment of debt and a $3.5 million gain on sale of dismutase mimetics assets to Biossil, Inc., following the asset purchase agreement in October 2025. Operating loss narrowed to $2.5 million from $20.2 million, with research and development expenses at $0.3 million (down from $3.2 million) and general and administrative at $5.7 million (down from $11.0 million). Net income attributable to common stockholders was $63.5 million, or $0.64 per share (basic and diluted), versus a $18.7 million loss or $(0.34) per share in 2024. Cash used in operating activities improved to $6.0 million from $12.1 million, with net decrease in cash of $1.9 million, ending at $6.4 million. Total assets stood at $7.2 million, liabilities at $0.6 million, and stockholders' equity at $4.0 million. The company sold its SOD mimetics portfolio and now focuses on a pan-NOS inhibitor from the Nova acquisition. Existing cash is expected to fund limited operations for at least 12 months, but additional financing is required for development amid strategic alternatives including potential dissolution.

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