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.
GlycoMimetics, Inc. (Nasdaq: GLYC) reported its financial results for Q4 and year-end 2021. The company has $90.3 million in cash, down from $137.0 million in 2020. Revenue dropped to $1.2 million from $10.2 million, mainly due to decreased collaboration payments. R&D expenses rose to $12.9 million in Q4 and $47.5 million for the year, driven by increased clinical development costs for uproleselan in AML. The pivotal Phase 3 trial for uproleselan in relapsed/refractory AML has completed enrollment of 388 patients, with top-line data expected after year-end 2022.
GlycoMimetics, Inc. (Nasdaq: GLYC) has appointed Dr. Deepak Tiwari as Vice President of Technical Operations. With over 25 years of experience, Dr. Tiwari's expertise includes over 30 regulatory submissions and 15 product launches. He previously held leadership roles at Rafael Pharmaceuticals and ZyVersa Therapeutics. The company continues to advance its investigational drug, uproleselan, for acute myeloid leukemia (AML), which has received Breakthrough Therapy designation. Dr. Tiwari's leadership is expected to enhance GlycoMimetics' operational capabilities.
GlycoMimetics, Inc. (NASDAQ: GLYC) will host a conference call and webcast to discuss its fourth quarter and year-end financial results for 2021 on March 3, 2022, at 8:30 a.m. ET. Domestic participants can dial in at (844) 413-7154, while international participants can call (216) 562-0466, using participant code 4048456. A webcast replay will be available on the company’s website for 30 days. GlycoMimetics is focused on developing glycobiology-based therapies for cancers and inflammatory diseases, leveraging its unique chemistry platform to create transformative therapies.
GlycoMimetics, Inc. (NASDAQ:GLYC) announced the approval of a non-qualified stock option award for 235,000 shares to Bruce Johnson, the new Senior VP and Chief Commercial Officer. This grant, which serves as an inducement for his employment, includes options for 200,000 shares with a vesting schedule starting February 16, 2023, and 35,000 shares that will vest contingent upon FDA approval of uproleselan and its first commercial sale. The exercise price is set at $1.07, aligning with the closing stock price on the grant date.
GlycoMimetics, Inc. (GLYC) has appointed Bruce Johnson as the new Senior Vice President and Chief Commercial Officer. Johnson brings extensive experience in oncology, having led the commercialization of drugs such as Midostaurin and Venetoclax. His immediate focus will be on developing a commercialization strategy for GlycoMimetics’ lead asset, uproleselan, which is currently in a Phase 3 trial for acute myeloid leukemia (AML) and has received Breakthrough Therapy designation. This strategic hire aims to enhance competitive readiness and scientific education around uproleselan.
GlycoMimetics, Inc. (NASDAQ: GLYC) presented data at the 63rd American Society of Hematology Annual Meeting supporting their dual antagonist GMI-1359 as a novel treatment for acute myeloid leukemia (AML). Preclinical studies at the University of Texas MD Anderson Cancer Center showed that GMI-1359 disrupts tumor-stromal interactions, enhancing the efficacy of existing therapies like venetoclax and FLT3 inhibitors. The data revealed significant improvements in survival rates in mouse models treated with GMI-1359, potentially addressing chemoresistance and preserving healthy bone marrow cells.
GlycoMimetics, Inc. (GLYC) announced the completion of enrollment for 267 patients in its Phase 2 trial for uproleselan, targeting acute myeloid leukemia (AML) in patients aged 60 and above. This milestone paves the way for an interim analysis of event-free survival, crucial for potential advancement to Phase 3 trials and regulatory submissions. Uproleselan, a first-in-class E-selectin antagonist, aims to enhance outcomes in intensive chemotherapy settings. The NCI and the Alliance for Clinical Trials in Oncology collaborated on this study, aiming for a dataset of 650 patients.
GlycoMimetics, Inc. (NASDAQ:GLYC) announced the grant of a non-qualified stock option award on November 22, 2021, for 100,000 shares to Dr. Lisa DeLuca, the new Vice President of Regulatory Affairs. This award is intended to induce her acceptance of employment and is outside the company's 2013 Equity Incentive Plan. The options have an exercise price of $1.84 per share, based on the closing price on the grant date, and will vest over four years. GlycoMimetics focuses on developing glycomimetic drugs, with its flagship candidate, uproleselan, currently in clinical trials for AML.
GlycoMimetics (NASDAQ: GLYC) has announced that Apollomics has successfully dosed the first patient in a Phase 3 clinical trial of APL-106 (uproleselan) for treating adults with relapsed or refractory acute myeloid leukemia (AML) in China. This trial is part of a bridging study aimed at assessing the efficacy of uproleselan in combination with chemotherapy versus chemotherapy alone. The primary endpoint is overall survival, while secondary measures include remission rates and chemotherapy-related side effects. The trial will recruit approximately 140 patients across 20 research centers in China.
GlycoMimetics, Inc. (Nasdaq: GLYC) announced the appointment of Lisa DeLuca, Ph.D., as Vice President of Regulatory Affairs. Dr. DeLuca, an experienced regulatory expert, has held significant roles at various firms, including leading global NDA submissions. Her expertise will enhance GlycoMimetics' engagement with the FDA regarding ongoing trials of uproleselan for acute myeloid leukemia (AML). Uproleselan is currently in Phase 3 trials and has received Breakthrough Therapy Designation from the FDA, aimed at improving treatment outcomes in AML patients.
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