Galecto Inc
Change company Symbol lookup
Select an option...
GLTO Galecto Inc
ERNA Eterna Therapeutics Inc
TANH Tantech Holdings Ltd
OMGA Omega Therapeutics Inc
INBS Intelligent Bio Solutions Inc
PAYX Paychex Inc
PYR Pyrogenesis Canada Inc
PM Philip Morris International Inc
GWAV Greenwave Technology Solutions Inc
SLNO Soleno Therapeutics Inc

Health Care : Biotechnology | Small Cap Value
Company profile

Galecto, Inc. is a clinical-stage biotechnology company. The Company is focused on developing novel small molecule therapeutics that are designed to target the biological processes that lie at the heart of cancer and fibrotic diseases. The Company’s initial focus is on the development of small molecule inhibitors of galectin-3 and lysyl oxidase-like 2 (LOXL2). The Company is developing GB0139 for the treatment of Idiopathic Pulmonary Fibrosis (IPF), a life-threatening progressive fibrotic disease of the lung. The Company’s product candidate also includes GB1211, a selective oral small molecule inhibitor of galectin-three, is chemically distinct from GB0139 and is being developed for the treatment of various oncology indications and liver cirrhosis, and GB2064 is a selective oral small molecule inhibitor of LOXL2 for the treatment of myelofibrosis, a malignant disease of the bone marrow in which progressive fibrosis reduces the ability to form blood cells in the bone marrow.

Closing Price
Day's Change
0.127 (22.24%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:

TSMC stock rides Nvidia's AI wave to best week in more than a year

8:23 am ET May 30, 2023 (MarketWatch)

By Wallace Witkowski

Chip fabricator that partners with Nvidia likely to see more demand, but analyst says it will only be a 'slight positive' because Nvidia captures most of the revenue

U.S. shares of Taiwan Semiconductor Manufacturing Co. rode the wind behind Nvidia Corp.'s record revenue forecast to their best week in nearly a year and a half.

TSM (2330.TW) shares rose 12% Thursday as Nvidia Corp.'s stock (NVDA) soared in response to news of a wave on expected sales of chips used for generative artificial intelligence, then added another 2.2% Friday. The stock finished the week up 11.5%, the best percentage gain in a week since the one ending Jan. 14, 2022.

With a 22.4% gain month to date already, shares also aren't far from their best month since January, when shares finished up 24.5%. That follows a 34.8% gain in November 2022.

In April, the Chip fabricator, or "fab" -- industry parlance for the high-tech factories where billions of transistors are etched onto silicon wafers to make chips -- trimmed its outlook but kept its capex forecast intact.

Read: Nvidia stock soars toward all-time high as record revenue forecast backed by 'killer app' of AI

Wedbush analyst Matt Bryson who covers Nvidia, said he expects TSMC to get a "slight positive" from Nvidia. "TSMC certainly benefits from Nvidia's success, but the absolute revenue contribution to TSMC is more modest given Nvidia's elevated margins on its data center GPUs."

Those elevated margins from data-center sales are expected to help Nvidia bounce back from a tough inventory year, Nvidia Chief Financial Officer Colette Kress told MarketWatch in an interview late Thursday.

Nvidia sells data-center chips to cloud service providers, or "hyperscalers," such as Microsoft Corp.'s (MSFT) Azure, Inc.'s (AMZN) AWS, Alphabet Inc.'s (GOOGL)(GOOGL) Google Cloud Platform, and Oracle Corp.'s (ORCL) Cloud Infrastructure, as well as consumer-internet companies and large businesses. Those companies are all looking to leverage generative AI, and are looking for more compute power at lower energy levels.

While considered the GPU leader in the data center, Nvidia still dukes it out with rival Advanced Micro Devices Inc. (AMD) and Intel Corp. (INTC), and is attempting to challenge those companies in the CPU market as well.

Read: Broadcom stock streaks to record high on hopes for Apple deal

TSM shares are up 38.6% year to date, while the PHLX Semiconductor Index is up 40%, the S&P 500 index is up 9.5%, and the and the tech-heavy Nasdaq Composite Index has gained 24%. Nvidia shares, meanwhile, are up 166.5% year to date.

-Wallace Witkowski

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

May 30, 2023 08:23 ET (12:23 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2023 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2023. All rights reserved.