Glycomimetics, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 27, 2024 at 07:00 am
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GlycoMimetics, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 0.01 million. Net loss was USD 9.08 million compared to USD 10.25 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to USD 0.19 a year ago.
For the full year, the company reported net loss was USD 36.9 million compared to USD 46.69 million a year ago. Basic loss per share from continuing operations was USD 0.58 compared to USD 0.89 a year ago.
GlycoMimetics, Inc. is a late clinical-stage biotechnology company discovering and developing glycobiology-based therapies for cancers, including acute myeloid leukemia (AML) and for inflammatory diseases. It is developing a pipeline of glycomimetics, which are small molecules that mimic the structure of carbohydrates involved in biological processes, to inhibit disease-related functions of carbohydrates, such as the roles they play in inflammation, cancer and infection. Its drug candidates include Uproleselan, GMI-1687, Galectin Antagonists and GMI-1359. It is developing Uproleselan, a specific E-selectin antagonist, to be used in combination with chemotherapy to treat patients with AML, a life-threatening hematologic cancer, and potentially other hematologic cancers. It has designed an antagonist of E-selectin, GMI-1687, that is suitable for subcutaneous administration. GMI-1359 is a drug candidate that simultaneously targets both E-selectin and a chemokine receptor (CXCR4).
GLYCOMIMETICS, INC. 
