Recent Updates — GRTXD

Galera Therapeutics completed its merger with Obsidian Therapeutics on August 3, 2026, becoming a wholly owned subsidiary of the combined entity. Galera shareholders received an exchange ratio of 0.7019 shares of Parent Common Stock for each share held and were issued one Contingent Value Right (CVR) per share. These CVRs entitle holders to 80% of net proceeds from Legacy Product commercialization over five years and 95% from the Supportive-Care Product Divestiture over ten years. Galera Common Stock ceased trading on the OTCQB Market, and the company intends to file Form 15 to terminate its SEC reporting obligations. Executive leadership transitioned immediately upon closing, with J. Mel Sorensen resigning as President and CEO while new officers were appointed for the surviving subsidiary. Galera Therapeutics operates in the biotechnology industry, focusing on developing therapies for rare diseases.

Galera Therapeutics completed a $350 million Concurrent PIPE Financing by selling Series C Non-Voting Convertible Preferred Stock to qualified institutional buyers on July 31, 2026. This financing supports the previously announced merger with Obsidian Therapeutics under an Agreement and Plan of Merger dated April 14, 2026. The combined transaction is expected to close on August 3, 2026, subject to customary conditions. As part of the Pre-Closing Distribution, common stockholders will receive Contingent Value Rights (CVRs) for tilarganine and GC4711/GC4419 assets, with a record date of July 31, 2026, and distribution expected on August 6, 2026. Galera Therapeutics operates in the biotechnology industry, focusing on developing small molecule therapies for inflammatory diseases.