Welcome to our dedicated page for Glycomimetics news (Ticker: GLYC), a resource for investors and traders seeking the latest updates and insights on Glycomimetics stock.
The GLYC news page on Stock Titan provides an archive of disclosures and announcements related to GlycoMimetics, Inc., a late clinical-stage biotechnology company that described itself as discovering and developing glycobiology-based therapies for cancers, including acute myeloid leukemia (AML), and for inflammatory diseases. These news items trace the company’s scientific focus on small molecule glycomimetics and its corporate evolution leading to its merger with Crescent Biopharma, Inc.
Readers can review press releases detailing clinical trial milestones for uproleselan, an investigational, first-in-class E-selectin antagonist discovered and developed by GlycoMimetics. News coverage includes topline and comprehensive results from a pivotal Phase 3 study in relapsed/refractory AML, updates on an adaptive Phase 2/3 study in newly diagnosed AML conducted by the National Cancer Institute and the Alliance for Clinical Trials in Oncology, and announcements of data presentations at major medical meetings such as the American Society of Hematology (ASH) Annual Meeting.
The archive also includes corporate updates, such as the initiation of a strategic review and corporate restructuring plan, discussions of potential business development opportunities for uproleselan and GMI-1687, and workforce reductions described as part of extending the company’s cash runway. Later news items document the acquisition agreement with Crescent Biopharma, the planned operation of the combined company under the Crescent Biopharma, Inc. name, and stockholder approval of the merger and related reverse stock split.
Because GlycoMimetics has completed a business combination and changed its name to Crescent Biopharma, Inc., the GLYC news feed serves primarily as a historical record. Investors and researchers can use this page to follow the sequence of clinical, regulatory, and strategic announcements that shaped the legacy GlycoMimetics business prior to its transition to trading under the CBIO symbol.
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GlycoMimetics, Inc. (Nasdaq: GLYC) has announced a conference call scheduled for May 3, 2023, at 8:30 a.m. ET to discuss its first quarter 2023 financial results. Investors can participate by registering through a provided link to receive dial-in details, with a reminder to connect 15 minutes early.
The company is a late clinical-stage biotechnology firm focused on developing therapies for cancers like AML and inflammatory diseases. Its innovative research is based on glycobiology, emphasizing carbohydrate interactions in cell recognition to create glycomimetics aimed at addressing significant medical needs.
GlycoMimetics announced significant advancements in leadership and capital raising as it prepares for the final results of its Phase 3 study on uproleselan in treating relapsed/refractory acute myeloid leukemia (AML). The independent Data Monitoring Committee (DMC) endorsed the continuation of the trial after a high statistical interim analysis, expecting final survival events by mid-2024. Financially, GlycoMimetics reported cash and equivalents of $47.9 million as of December 31, 2022, and raised an additional $28.7 million post-year-end. R&D expenses dropped to $28.4 million for 2022, while overall revenue remained minimal at $1.2 million, attributed to licensing collaborations.
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