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GlycoMimetics, Inc. (GLYC) is a clinical-stage biotechnology company dedicated to developing transformative therapies for serious diseases like sickle cell disease, cancer, and other conditions with high unmet medical needs. Founded in 2003, the company leverages its proprietary glycobiology technology to create novel glycomimetic drugs. These drugs are designed to mimic the structure of carbohydrates that play critical roles in various biological processes, potentially offering new avenues of treatment for complex diseases.
GlycoMimetics focuses on areas where carbohydrate biology is crucial, particularly in inflammation, cancer, and infection. The company's robust and diversified product pipeline includes multiple clinical candidates currently in various stages of development. These candidates aim to inhibit disease-related carbohydrate functions, thereby providing hope for patients who currently have limited treatment options.
The company's mission is to advance its research, clinical candidates, and ultimately deliver breakthrough treatments to improve patients' lives. GlycoMimetics is publicly traded on the NASDAQ under the symbol GLYC, reflecting its ongoing commitment to transparency and growth. Recent achievements and current projects highlight the company's commitment to innovation and patient care. GlycoMimetics continues to build strategic partnerships to enhance its research and development efforts, further solidifying its position as a leader in biotechnology.
By using expertise in carbohydrate chemistry and a deep understanding of carbohydrate biology, GlycoMimetics is at the forefront of developing treatments that address significant medical challenges. The company's ongoing projects and collaborations underscore its dedication to making a meaningful impact in the field of biotechnology.
GlycoMimetics (Nasdaq: GLYC) has announced a strategic review and corporate restructuring plan following FDA feedback on uproleselan for relapsed/refractory Acute Myeloid Leukemia (AML). Key points include:
1. An additional clinical trial is required for uproleselan in R/R AML.
2. The company will explore strategic alternatives to maximize shareholder value.
3. Discussions continue with NCI and Alliance for Clinical Trials in Oncology for the ongoing Phase 2/3 study of uproleselan in newly diagnosed AML.
4. Workforce reduction of approximately 80%.
5. Cash runway extended into Q2 2025.
GlycoMimetics aims to find partners to advance uproleselan and GMI-1687, believing both have potential to address unmet needs in their respective areas. The company had $31.3 million in cash as of March 31, 2024.
GlycoMimetics announced results from its Phase 3 study of uproleselan for relapsed/refractory acute myeloid leukemia (AML). The study showed that uproleselan significantly improved median overall survival (mOS) to 31.2 months in primary refractory AML patients, compared to 10.1 months for the placebo group. However, for the intent-to-treat population, the mOS was 13.0 months for uproleselan and 12.3 months for placebo, which is not statistically significant. Severe oral mucositis incidence and serious treatment-emergent adverse events were comparable between groups. The company is in discussions with the National Cancer Institute for further studies.
GlycoMimetics (Nasdaq: GLYC) announced a key opinion leader event on June 4, 2024, to discuss comprehensive results from their pivotal Phase 3 study of uproleselan in relapsed/refractory acute myeloid leukemia (AML). The event will feature Dr. Daniel DeAngelo of Harvard Medical School, who will present the findings and discuss the current AML treatment landscape and unmet needs. The event will start at 8:30am ET and will be accessible via phone and live webcast.
GlycoMimetics, a biotech company, announced results from a Phase 3 study of uproleselan in AML patients, showing no improvement in overall survival when combined with chemotherapy. The company is analyzing the data and plans to present it at a medical meeting. The Phase 3 study evaluated uproleselan in R/R AML patients and did not meet the primary endpoint. The company also reported first-quarter 2024 financial results, including a decreased cash position and increased R&D expenses.
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