GlycoMimetics Merger & Cayman Move; Insider Discloses 105k Options

Rhea-AI Filing Summary

Form 3 overview: On June 23, 2025, officer Ryan Lynch filed an initial statement of beneficial ownership after a multi-step transaction in which GlycoMimetics, Inc. merged with Crescent Biopharma, Inc., adopted the Crescent Biopharma, Inc. name and, on June 16, 2025, redomiciled from Delaware to the Cayman Islands. The filing establishes Lynch’s baseline insider position in the newly constituted issuer (ticker: CBIO).

Equity award details: Lynch, who serves as Treasurer, Senior Vice President of Finance and Chief Accounting Officer, reports a stock option for 105,706 ordinary shares at an exercise price of $6.16. The award originated from his pre-merger Crescent option and now entitles him to acquire an identical number of Cayman ordinary shares. Vesting is 25 % on December 27 2025, with the balance vesting in equal monthly instalments through December 27 2028, contingent upon continued service.

Ownership structure and timing: All derivative securities are held directly; no non-derivative share ownership is reported. The Form 3 provides the first Section 16 disclosure for Lynch following the June 13 2025 closing of the merger, allowing investors to track future changes to his stake.

Positive

• Insider alignment: Officer Ryan Lynch now holds options for 105,706 shares, providing transparency on management incentives post-merger.

Negative

• No immediate share ownership: Form 3 lists zero non-derivative shares, indicating the officer currently lacks direct equity exposure outside options.

Insights

Corporate Governance Expert

TL;DR: Merger and Cayman redomicile finalised; Form 3 shows 105,706 options for new officer, signalling continuity, limited governance impact.

The filing confirms that Crescent Biopharma’s post-merger corporate structure is in place and that key finance executive Ryan Lynch now holds an option representing roughly 105 k ordinary shares. Because the option merely converts pre-existing Crescent equity, it neither increases dilution nor alters insider alignment beyond what investors likely expected. Governance implications are neutral: the Cayman move is already effective and the disclosure follows Section 16 requirements. The document is largely administrative but necessary for tracking future insider trades.

Securities Analyst

TL;DR: Insider ownership baseline set; no immediate earnings impact, but establishes $6.16 strike for 105 k-share option post-merger.

From a market-impact lens, the Form 3 is routine. It records Lynch’s converted option—about 105 k shares at $6.16, expiring 12/27/2034. The strike is useful for modelling potential dilution, yet represents contingent, not current, ownership. There is no new capital raised, cash outflow, or guidance implication. The underlying merger and domicile shift were previously disclosed, so incremental information value is modest. I view the filing as not impactful for near-term valuation, though it provides transparency on insider incentives that may inform long-term alignment analyses.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
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1. Name and Address of Reporting Person^*

Lynch Ryan

(Last) (First) (Middle)

C/O CRESCENT BIOPHARMA, INC.

300 FIFTH AVENUE

(Street)

WALTHAM MA 02451

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/13/2025

3. Issuer Name and Ticker or Trading Symbol
GLYCOMIMETICS INC [ CBIO ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	(1)(2)(3)	12/27/2034	Ordinary Shares	105,706	$6.16	D

Explanation of Responses:

1. Effective as of June 13, 2025 (the "Effective Time"), (i) a wholly-owned subsidiary of GlycoMimetics, Inc. ("GlycoMimetics") merged with and into Crescent Biopharma, Inc. ("Pre-Merger Crescent") with Pre-Merger Crescent continuing as a wholly owned subsidiary of GlycoMimetics and the surviving corporation of the merger (the "First Merger"), (ii) immediately thereafter, Pre-Merger Crescent merged with and into a second wholly-owned subsidiary of GlycoMimetics ("Second Merger Sub"), with Second Merger Sub being the surviving entity of the merger under the name Crescent Biopharma Operating Company, LLC (the "Second Merger" and, together with the First Merger, the "Merger"). At the Effective Time, GlycoMimetics changed its name to "Crescent Biopharma, Inc." (hereinafter, the "Issuer").

2. This Form gives effect to the Issuer's completion of a conversion from a corporation organized under the laws of the State of Delaware (the "Delaware Corporation") to an exempted company incorporated under the laws of the Cayman Islands (the "Cayman Company"), effective as of June 16, 2025. In connection therewith, each outstanding option or right to acquire shares of common stock of the Delaware Corporation continued in existence in the form of and automatically became an option or right to acquire an equal number of ordinary shares of the Cayman Company under the same terms and conditions.

3. Represents options to purchase the Issuer's ordinary shares received by the Reporting Person in the Merger in exchange for options of Pre-Merger Crescent held by the Reporting Person prior to the Merger. This option will vest as to 25% on December 27, 2025 and in equal monthly installments thereafter through December 27, 2028, subject to the Reporting Person's continued service to the Issuer on each such vesting date.

Remarks:

Treasurer, Senior Vice President of Finance and Chief Accounting Officer. Exhibit 24 - Power of Attorney

	/s/ Barbara Bispham, as attorney-in-fact for Ryan Lynch	06/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Why did GLYC (now Crescent Biopharma) file a Form 3 on 23 Jun 2025?

The filing records Ryan Lynch’s initial beneficial ownership following the 13 Jun 2025 merger and Cayman redomicile.

How many shares can Ryan Lynch acquire under his reported option?

105,706 ordinary shares.

What is the exercise price of the option disclosed in the Form 3?

$6.16 per share.

When does the option held by Ryan Lynch vest?

25 % vests on 27 Dec 2025; the remainder vests monthly through 27 Dec 2028.

What corporate restructuring occurred on 13 Jun 2025 for GLYC/CBIO?

A two-step merger created Crescent Biopharma as the surviving entity, completing GlycoMimetics’ transformation.

What is Ryan Lynch’s role at Crescent Biopharma?

He is Treasurer, Senior Vice President of Finance, and Chief Accounting Officer.