Policy & Regulation
GlycoMimetics to Offer 4.5m Shares of Common Stock in Underwritten Public Offering
21 March 2018 - - Rockville, Maryland-based biotechnology company GlycoMimetics, Inc. (NASDAQ: GLYC) intends to offer and sell, subject to market conditions, 4.5m shares of its common stock in an underwritten public offering, the company said.
All of the shares of common stock to be sold in the offering will be offered by GlycoMimetics. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.
The company also intends to grant the underwriters a 30-day option to purchase up to an additional 675,000 shares of its common stock.
GlycoMimetics intends to use the net proceeds of the offering to conduct and complete its planned Phase 3 clinical development programme for GMI-1271 in patients with acute myeloid leukemia and to fund the research and development of its other clinical-stage and preclinical product candidates, including drug discovery, and for working capital and other general corporate purposes.
GlycoMimetics is focused on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in which carbohydrate biology plays a key role.
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