Damora Therapeutics to Trade Under DMRA, Secures $535M Cash, Targets Mid-2026 IND
Galecto, now rebranded as Damora Therapeutics, will trade under the symbol DMRA on Nasdaq beginning March 10, 2026 after its Damora acquisition and $285 million private investment. It holds $535 million in cash as of February 28, 2026 and will file IND for DMR-001 by mid-2026 with proof-of-concept data expected mid-2027.
1. Name Change and Ticker Update
Galecto, Inc. completed its acquisition of Damora and subsequently rebranded as Damora Therapeutics, announcing that shares will trade under the ticker DMRA on Nasdaq as of March 10, 2026. The new name reflects its focus on mutant calreticulin-targeted therapies for blood disorders.
2. Capital Position and Funding
Damora raised approximately $285 million in private investment in November 2025 and $316 million in a February 2026 public offering, resulting in $535 million cash on hand as of February 28, 2026. This strong balance sheet is projected to fund operations through Phase 3 development of DMR-001.
3. Lead Program DMR-001 Development Timeline
The lead candidate, DMR-001, is an investigational monoclonal antibody with preclinical data showing potent inhibition of both Type 1 and Type 2 mutCALR and an extended half-life for convenient subcutaneous dosing. Damora plans to submit IND or CTA filings for DMR-001 in mid-2026 and present two proof-of-concept datasets by mid-2027.
4. Additional Pipeline and Outlook
Additional pipeline candidates DMR-002 and DMR-003 are slated for IND/CTA submission in the second half of 2026 and in 2027, respectively. These programs aim to offer portfolio optionality to treat the full spectrum of patients with mutCALR-driven essential thrombocythemia and myelofibrosis.