Detailed financial statements for Damora Therapeutics, Inc. (GLTO): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Damora Therapeutics, Inc., a biopharmaceutical company, develops therapies for the treatment of hematologic disorders in Denmark and North America. The company’s lead product includes DMR-001, a investigational monoclonal antibody therapy that targets mutations in CALR, for the treatment of essential thrombocythemia; and DMR-002 and DMR-003, both anti-mutCALR-based therapies, with the intent to ultimately address the full spectrum of mutCALR MPN patients.
Analysis Summary
Trailing-twelve-month margins: gross margin 0.0%, operating margin 0.0%, net margin 0.0%.
At the current price of $21.58, GLTO has negative trailing earnings (P/E not meaningful) and an ROE of -82.56%. Market capitalisation stands at $34M.
Balance sheet quality for GLTO: current ratio of 13.0, net cash position of $257.6M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | 0 | $111000 | 0 | 0 | 0 | 0 | 0 | $34000 |
| Gross Profit | 0 | -$111000 | 0 | 0 | 0 | 0 | 0 | -$34000 |
| Research & Development | $10.1M | $36.5M | $24.6M | $38.5M | $48.2M | $23.8M | $10.8M | $201.2M |
| Selling, General & Admin | $2.8M | $2.4M | $9.0M | $13.7M | $13.0M | $12.7M | $10.5M | $9.7M |
| Operating Expenses | $12.9M | $39.0M | $33.6M | $52.2M | $61.2M | $39.9M | $22.3M | $210.9M |
| Operating Income | -$12.9M | -$39.0M | -$33.6M | -$52.2M | -$61.2M | -$39.9M | -$22.3M | -$210.9M |
| EBITDA | -$12.9M | -$36.4M | -$34.6M | -$51.3M | -$60.7M | -$35.6M | -$21.1M | -$209.8M |
| Interest Expense | $3.0M | 0 | 0 | 0 | $417000 | 0 | 0 | 0 |
| Pre-tax Income | -$15.9M | -$36.5M | -$34.8M | -$51.8M | -$61.6M | -$38.3M | -$21.4M | -$209.8M |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | $41000 | $50000 |
| Net Income | -$15.9M | -$38.4M | -$34.8M | -$51.8M | -$61.6M | -$38.3M | -$21.4M | -$209.8M |
| EPS | $-4.42 | $-37.76 | $-35.66 | $-50.75 | $-61.04 | $-36.08 | $-18.53 | $-152.99 |
| EPS (Diluted) | $-4.42 | $-37.76 | $-35.66 | $-50.75 | $-61.04 | $-36.08 | $-18.53 | $-152.99 |
| Shares Outstanding (Diluted) | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.1M | $1.2M | $1.4M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Revenue | 0 | 0 | 0 | 0 |
| Gross Profit | 0 | 0 | -$68000 | 0 |
| Operating Income | -$3.2M | -$201.7M | -$30.8M | -$35.0M |
| EBITDA | -$3.1M | -$200.7M | -$27.7M | -$35.0M |
| Net Income | -$3.1M | -$200.7M | -$27.8M | -$31.2M |
| EPS | $-2.36 | $-121.10 | $-0.81 | $-0.39 |
| EPS (Diluted) | $-2.36 | $-121.10 | $-0.81 | $-0.39 |
Balance Sheet (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Cash & Equivalents | $31.0M | $11.3M | $163.6M | $62.6M | $32.8M | $21.5M | $14.2M | $257.6M |
| Short-term Investments | 0 | 0 | 0 | $37.6M | $27.4M | $11.7M | 0 | 0 |
| Receivables | $989000 | $41.1M | $2.2M | $2.3M | $1.4M | $1.7M | $881000 | $899000 |
| Inventory | $3.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $35.0M | $56.1M | $169.3M | $110.1M | $63.9M | $36.8M | $16.8M | $260.4M |
| Property, Plant & Equipment | 0 | $298000 | $885000 | $1.0M | $1.2M | $325000 | $130000 | $104000 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | $35.1M | $56.6M | $171.6M | $122.2M | $73.2M | $38.2M | $17.1M | $260.5M |
| Accounts Payable | $1.4M | $3.3M | $2.9M | $1.5M | $3.4M | $1.7M | $377000 | $444000 |
| Short-term Debt | 0 | $87000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | $4.4M | $7.9M | $5.6M | $4.5M | $11.1M | $5.8M | $1.2M | $20.1M |
| Long-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | $4.4M | $8.1M | $6.1M | $5.0M | $11.4M | $5.9M | $1.3M | $20.1M |
| Retained Earnings | -$33.0M | -$69.5M | -$104.4M | -$156.1M | -$217.7M | -$256.1M | -$277.5M | -$487.4M |
| Total Equity | $30.7M | $48.5M | $165.5M | $117.2M | $61.8M | $32.3M | $15.8M | $240.4M |
| Total Debt | 0 | $298000 | $915000 | $847000 | $804000 | $249000 | $73000 | $68000 |
| Net Debt | -$31.0M | -$11.0M | -$162.7M | -$99.3M | -$59.4M | -$32.9M | -$14.1M | -$257.6M |
| Working Capital | $30.5M | $48.2M | $163.7M | $105.6M | $52.8M | $30.9M | $15.6M | $240.4M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Cash & Equivalents | $7.6M | $257.6M | $532.9M | $540.5M |
| Total Assets | $10.7M | $260.5M | $535.4M | $543.6M |
| Total Liabilities | $4.1M | $20.1M | $25.2M | $27.6M |
| Total Equity | $6.7M | $240.4M | $510.3M | $516.1M |
| Total Debt | $1.4M | $68000 | $1.3M | 0 |
Cash Flow (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Net Income | -$15.9M | -$36.5M | -$34.8M | -$51.8M | -$61.6M | -$38.3M | -$21.4M | -$209.8M |
| Depreciation & Amortization | 0 | $111000 | $188000 | $441000 | $490000 | $830000 | $181000 | $34000 |
| Stock-based Compensation | $81000 | 0 | $982000 | $4.5M | $5.6M | $5.4M | $3.2M | $998000 |
| Change in Working Capital | -$933000 | $2.2M | -$4.6M | -$6.6M | $11.9M | -$4.4M | -$2.7M | $18.4M |
| Operating Cash Flow | -$13.7M | -$19.3M | -$38.2M | -$52.3M | -$42.9M | -$36.9M | -$18.6M | -$6.7M |
| Capital Expenditure | 0 | 0 | 0 | -$223000 | -$196000 | 0 | 0 | 0 |
| Acquisitions | 0 | -$326000 | 0 | $47825 | $70000 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$13.7M | -$19.3M | -$38.2M | -$52.5M | -$43.1M | -$36.9M | -$18.6M | -$6.7M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Operating Cash Flow | -$2.6M | $566000 | -$20.6M | -$21.9M |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$2.6M | $566000 | -$20.6M | -$21.9M |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | $164000 | $483000 | 0 | $9.3M |
Growth & Margins (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Net Income Growth (YoY) | | -142.1% | +9.3% | -48.6% | -19.1% | +37.8% | +44.1% | -878.8% |
| EPS Growth (YoY) | | -754.3% | +5.6% | -42.3% | -20.3% | +40.9% | +48.6% | -725.6% |
| Shares Change (YoY) | | +0.0% | -0.7% | +0.0% | +0.6% | +4.6% | +8.9% | +18.5% |
| FCF Growth (YoY) | | -41.2% | -97.7% | -37.5% | +17.9% | +14.4% | +49.5% | +63.9% |
| Effective Tax Rate | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.2% | -0.0% |
Per-Share Data (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF Per Share | $-13.46 | $-19.00 | $-37.81 | $-51.99 | $-42.43 | $-34.73 | $-16.09 | $-4.90 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.1M | $1.2M | $1.4M |
What to look at in Healthcare / Pharma
The R&D pipeline is the invisible asset. Patents expiring = revenues evaporating. Look at innovation and cash flow.
- R&D / Revenue — Shows investment in future pipeline. Serious pharma reinvests 15-20%
- 5y EPS growth — After patent expirations, are they still growing?
- Gross margin — Branded pharma >70%. Generics much lower — defines the business type
- FCF / Net Income — Earnings quality — big pharma should convert >90%
- ROIC — Capital reinvested efficiently — key in pharma due to long R&D cycles
- Net debt / EBITDA — Pharma acquisitions pile up debt — watch the post-M&A picture
- P/E vs own 10y history — The best comparison is with its own history, not with peers
Profitability
| Return on Equity | -82.56% |
| Return on Invested Capital | -52.44% |
| Return on Assets | -48.35% |
| Gross Margin | 0.00% |
| Operating Margin | 0.00% |
| Net Margin | 0.00% |
Financial Health
| Debt / Equity | 0.00 |
| Current Ratio | 19.73 |
Key Ratios (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -84.84 | -9.93 | -8.77 | -1.49 | -0.47 | -0.50 | -0.25 | -0.15 |
| P/B | 12.44 | 7.87 | 1.91 | 0.65 | 0.47 | 0.59 | 0.34 | 0.13 |
| P/S | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |