GlycoMimetics,Inc. (NASDAQ:GLYC) Files An 8-K Termination of a Material Definitive Agreement

ME Staff 8-k
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GlycoMimetics,Inc. (NASDAQ:GLYC) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement

On May 23, 2017, GlycoMimetics, Inc. (the “Company”) terminated its Sales Agreement (the “Sales Agreement”), dated March 1, 2016, with Cowen and Company, LLC (“Cowen”), to which the Company could from time to time sell shares of its common stock having an aggregate offering price of up to $40.0 million through Cowen as sales agent. Prior to termination, the Company sold an aggregate of 2,057,438 shares of its common stock to the Sales Agreement for gross proceeds of $11,941,950.

The foregoing description of the Sales Agreement is not complete and is qualified in its entirety by reference to the full text of such agreement, a copy of which was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed by the Company on March 1, 2016 and is incorporated herein by reference.


About GlycoMimetics, Inc. (NASDAQ:GLYC)

GlycoMimetics, Inc. is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease. The Company is developing GMI-1271, a specific E-selectin inhibitor, to be used in combination with chemotherapy to treat patients with acute myeloid leukemia (AML), multiple myeloma (MM) and other hematologic cancers. The Company has an additional drug candidate, GMI-1359, that targets both E-selectin and a chemokine receptor, CXCR4. The Company is also advancing other preclinical-stage programs, which include small-molecule glycomimetic compounds that inhibit the proteins galectin-3 and galectin-9.

GlycoMimetics, Inc. (NASDAQ:GLYC) Recent Trading Information

GlycoMimetics, Inc. (NASDAQ:GLYC) closed its last trading session up +2.24 at 13.25 with 13,144,803 shares trading hands.