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Item 2.02 Results of Operations and Financial Condition.
On August 5, 2021, GlycoMimetics, Inc. (the “Company”) issued a press release announcing its financial results for the second quarter ended June 30, 2021. A copy of this press release is furnished herewith as Exhibit 99.1 to this Current Report and is incorporated herein by reference.
In accordance with General Instruction B.2. of Form 8-K, the information in this Item 2.02, and Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any of the Company’s filings under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, whether made before or after the date hereof, regardless of any incorporation language in such a filing, except as expressly set forth by specific reference in such a filing.
Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) (e)Retirement of Rachel King as President and Chief Executive Officer
On July 30, 2021, Rachel K. King, President and Chief Executive Officer of the Company, notified the Board of Directors of the Company (the “Board”) of her decision to retire from those positions, effective as of August 6, 2021. Mrs. King will remain as an employee of the Company until August 31, 2021.
Following her retirement, Mrs. King will continue to serve on the Board, which will constitute Continuous Service under the Company’s 2013 Equity Incentive Plan (the “2013 Plan”) for purposes of continued vesting of her stock options. She will receive the same compensation as the other non-employee members of the Board under the Company’s policy for compensation of non-employee directors, which was filed as Exhibit 10.14 to the Company’s Form 10-K for the year ended December 31, 2020.
On August 3, 2021, the Company and Mrs. King entered into a consulting agreement under which she will continue to provide services to the Company as requested, up to 20 hours per week, through August 31, 2022. In consideration for such services, Mrs. King will receive a monthly consulting fee of $23,304.17 per month. Mrs. King will not receive the second half of the retention bonus awarded in September 2019 that she would have been entitled to receive in September 2021.
(c)(d)(e)Appointment of Harout Semerjian as President and Chief Executive Officer
On August 2, 2021, the Board appointed Harout Semerjian as the Company’s President and Chief Executive Officer, effective as of August 6, 2021. In connection with Mr. Semerjian’s appointment as President and Chief Executive Officer, on August 2, 2021 the Board also expanded the authorized size of the Board from seven to eight members and appointed Mr. Semerjian to fill the newly created vacancy, to be effective concurrently with the effectiveness of his appointment as President and Chief Executive Officer.
Mr. Semerjian will serve in the class of directors whose term will expire at the Company 2022 Annual Meeting of Stockholders. The Company does not expect that Mr. Semerjian will be named as a member of any committees of the Board. There is no arrangement or understanding between Mr. Semerjian and any other person pursuant to which he was selected as an officer or director of the Company. There are no related party transactions between Mr. Semerjian and the Company that would require disclosure under Item 404(a) of Regulation S-K, and there is no family relationship between Mr. Semerjian and any of the Company’s other directors or executive officers.
Additional biographical information about Mr. Semerjian is set forth below:
Harout Semerjian, age 50, served as President and Chief Executive Officer of Immunomedics, Inc., a pharmaceutical company, from April 2020 to May 2020. He has most recently been working as an independent advisor serving private equity firms focused on healthcare. From March 2018 to April 2020, he served as Executive Vice President, Chief Commercial Officer at Ipsen Pharma, where he was accountable for the worldwide commercialization and portfolio strategy across oncology, neurosciences and rare diseases. From February 2017 to February 2018, he served as Ipsen’s President, Head of Specialty Care International Region & Global Franchises. Mr. Semerjian previously spent 16 years at Novartis Oncology, where he held various worldwide strategic and operational positions, culminating in his last role as Senior Vice President, Global Head for Ribociclib, accountable for worldwide launch preparations. During his tenure at Novartis, Mr. Semerjian worked on numerous launches and commercial activities for various therapies, including Gleevec, Tasigna, Exjade/Jadenu, Promacta, Zometa, and Femara. Mr. Semerjian holds an M.B.A. from Cornell University, an M.B.A. from Queen’s University, Canada, and a B.S. in Biology from the Lebanese American University in Lebanon.
The Company has entered into an employment agreement with Mr. Semerjian (the “Employment Agreement”), effective as of August 3, 2021 (the “Effective Date”), pursuant to which Mr. Semerjian will become President and Chief Executive Officer as of August 6, 2021. He will receive an annual base salary of $595,000 per year, subject to review and adjustment from time to time by the Board in its sole discretion. The Company will also pay Mr. Semerjian a sign-on bonus of $200,000 in two installments, less applicable tax withholdings. The first installment will be paid within 30 days of the Effective Date, and the second installment will be paid on the first anniversary of the Effective Date, subject to Mr. Semerjian remaining employed by the Company as of that date. In the event that Mr. Semerjian resigns without “good reason” or is terminated for “cause” (as such terms are defined in the Employment Agreement), he would be obligated to repay to the Company a prorated portion of the applicable installment of the sign-on bonus.
Mr. Semerjian will be eligible to receive a target annual bonus per calendar year in an amount equal to 55% of his annual base salary, subject to the discretion of the Board. For 2021, his bonus will be prorated based on the number of days during the calendar year in which he is employed by the Company. Mr. Semerjian is also eligible to participate in the Company’s employee and executive benefit plans and programs as may be maintained by the Company from time to time.
The Employment Agreement provides for an employment term of four (4) years from the Effective Date. Unless the Company gives notice of its intent not to renew, or Mr. Semerjian gives written notice to the Company of his determination not to renew, in any case at least one year prior to the fourth anniversary of the Effective Date, the Employment Agreement shall be renewed for one year from that anniversary. Thereafter, unless the Company or Mr. Semerjian gives written notice of determination not to renew at least one year prior to the next succeeding anniversary of the Effective Date, the Employment Agreement shall be renewed for one year from that anniversary.
In addition, and pursuant to the terms of the Employment Agreement, on August 3, 2021 (the “Grant Date”), the Board approved the grant of options (the “Option Grants”) to Mr. Semerjian to purchase shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) as follows: (a) an option to purchase 1,098,400 shares, subject to vesting as to 25% of the underlying shares on August 3, 2022 and as to the remaining underlying shares in equal monthly installments over 36 months thereafter, subject to Mr. Semerjian’s continued service through each such vesting date, and (b) an option to purchase 549,200 shares, one-half of which will vest upon FDA approval of the Company’s product candidate uproleselan as a treatment for relapsed/refractory acute myeloid leukemia and the remainder will vest upon the first commercial sale of uproleselan in the United States or abroad, subject in each case to Mr. Semerjian’s continued service through the applicable vesting date. The Option Grants have an exercise price of $2.03 per share, the closing price of the Common Stock on the Grant Date, and are subject to the terms and conditions of the award agreements pursuant to which they are granted. Mr. Semerjian will remain eligible for additional future stock option and other equity awards as may be determined by the Board, or a committee thereof, in accordance with the 2013 Plan.
Under the Employment Agreement, if Mr. Semerjian’s employment with the Company ends due to his resignation for “good reason” or his termination by the Company other than for “cause,” each as defined in the Employment Agreement, in either case that does not occur within 12 months after the effective date of a Change in Control (as defined in the Employment Agreement), he is entitled to receive (i) continuation of his then-current base salary for a period of 18 months; (ii) a lump sum payment equivalent to the unpaid bonus he would have otherwise earned for the prior calendar year had he remained employed through the date bonuses are regularly paid to senior executives; and (iii) continued health benefits under COBRA for up to 18 months, or if earlier, the date he is eligible for comparable replacement coverage under a subsequent employer’s group health plan.
In the case of Mr. Semerjian’s termination of employment by the Company other than for “cause” or his resignation for “good reason,” in either case that occurs within 12 months after the effective date of a Change in Control (as defined in the Employment Agreement), then he is entitled to receive (i) a lump sum severance payment equal to 18 months of his then-current base salary, to be paid on the 60th day following the termination, (ii) continued health benefits under COBRA for up to 18 months, or if earlier, the date he is eligible for comparable replacement coverage under a subsequent employer’s group health plan, (iii) acceleration of all unvested equity awards at the time that such termination occurs, which will be deemed to have vested as of his employment termination date, and (iv) a payment equal to 1.5 times his then current annual target bonus, to be paid on the 60th day following the termination. The benefits described in this paragraph are conditioned, among other things, on Mr. Semerjian’s compliance with his post-termination obligations under the Employment Agreement and his execution of a general release of claims in favor of the Company.
If the post-termination amounts payable constitute “parachute payments” under Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), and are subject to the excise tax under Section 4999 of the Code, then such payments will either (1) be paid in full or (2) reduced so that the Section 4999 excise tax does not apply, whichever results in the greater after-tax economic benefit to Mr. Semerjian.
The foregoing description of the terms of the Employment Agreement is a summary and does not purport to be complete and is qualified in its entirety by reference to the full text of the Employment Agreement, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending September 30, 2021.
In connection with his employment, Mr. Semerjian also entered into the Company’s standard form of Confidential Information and Invention Assignment Agreement. In connection with his appointment as President and Chief Executive Officer and a director of the Company, he is expected to enter into the Company’s standard form of Indemnification Agreement, which was filed as Exhibit 10.15 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
Item 7.01Regulation FD Disclosure.
On August 4, 2021, the Company issued a press release announcing Mrs. King’s retirement and Mr. Semerjian’s appointment. A copy of this press release is furnished herewith as Exhibit 99.2 to this Current Report. The information contained in the press release furnished as Exhibit 99.2 shall not be deemed “filed” for purposes of Section 18 of the Exchange Act and is not incorporated by reference into any of the Company’s filings under the Securities Act or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in any such filing.
Item 8.01 Other Events.
On August 2, 2021, the Compensation Committee of the Board adopted an amendment to the GlycoMimetics, Inc. Inducement Plan (the “Inducement Plan”) to increase the number of shares of Common Stock reserved for issuance under the Inducement Plan from 500,000 shares to 2,000,000 shares, subject to adjustment for stock dividends, stock splits, or other changes in the Common Stock or capital structure. The Option Grants to Mr. Semerjian described above were granted from the Inducement Plan.
Item 9.01 Financial Statements and Exhibits.
Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
/s/ Brian M. Hahn
Date: August 5, 2021
Brian M. Hahn
GLYCOMIMETICS REPORTS HIGHLIGHTS AND FINANCIAL RESULTS
FOR SECOND QUARTER 2021
|●||Completion of enrollment is expected by year-end 2021 for the Company-sponsored Phase 3 pivotal trial evaluating uproleselan in patients with relapsed/refractory acute myeloid leukemia (AML)|
|●||Completion of enrollment is expected by year-end 2021 for the Phase 2 portion of the NCI-sponsored Phase 2/3 registration trial evaluating uproleselan in newly diagnosed AML patients fit for chemotherapy|
|●||During the quarter and shortly after the quarter close, GlycoMimetics announced the initiation of three investigator-sponsored trials (ISTs) to expand the scope of its clinical research with uproleselan in AML and multiple myeloma|
|●||Yesterday, the Company announced that Harout Semerjian will become chief executive officer, effective August 6, to succeed Rachel King, who is retiring|
|●||Hosting a conference call and webcast today at 8:30 a.m. ET|
ROCKVILLE, MD, August 5, 2021-- GlycoMimetics, Inc. (Nasdaq: GLYC) today reported its financial results for the quarter ended June 30, 2021 and highlighted recent events. Cash and cash equivalents at June 30, 2021 were $118.9 million.
“There are now six trials underway evaluating our lead clinical candidate, uproleselan, including three registration trials and three ISTs, which we anticipate will provide clinical data flow beginning in 2022. Importantly, recruitment rates in both our Company-sponsored Phase 3 trial and the National Cancer Institute’s Phase 2 portion of the Phase 2/3 trial support our expectation that enrollment in both studies can be completed by the end of this year. The support of clinicians who are enrolling patients in our global studies, and now the new ISTs, has made it possible to broaden the scope of our uproleselan clinical research to address unmet needs in AML and beyond,” commented Chief Executive Officer Rachel King.
|●||Enrollment of GlycoMimetics’ pivotal Phase 3 trial in relapsed/refractory AML continued in the U.S., Canada, Australia and Europe at a steady pace throughout the second quarter of 2021. The Company continues to project that enrollment will be completed by year-end 2021.|
|●||The pace of enrollment in the National Cancer Institute (NCI)-sponsored Phase 2/3 registration trial, designed to evaluate the use of uproleselan in newly diagnosed older adults with AML who are fit for chemotherapy, continues to support the Company’s expectation that the Phase 2 portion will complete in 2021, and allow for a subsequent interim Event-Free Survival analysis of 262 patients.|
|●||During the quarter and shortly after the quarter close, clinicians initiated three ISTs designed to evaluate uproleselan in AML and in bone marrow transplantation for multiple myeloma. These trials are expected to begin producing clinical data in 2022, which the Company believes will support the potential of uproleselan to be used as a foundational treatment in AML to overcome well-established mechanisms of leukemic cell resistance within the bone marrow microenvironment and reduce adverse effects of chemotherapy.|
|●||In April 2021 at the American Association for Cancer Research (AACR) meeting, Duke University clinicians reported biologic activity, as demonstrated by cell mobilization, redistribution of immune subset profiles and changes in other pharmacodynamic markers, observed in the initial two patients treated in the ongoing Phase 1b study in patients with advanced breast cancer with bone metastases. The initial clinical data support the dual functionality of the compound and the potential of GMI-1359 to enhance responses to chemo and immune therapies.|
|●||The Company continued to advance GMI-1687 towards filing of an investigational new drug application (IND), anticipated in the first half of 2022.|
|●||Yesterday, the Company announced that its Board of Directors has appointed Harout Semerjian as chief executive officer (CEO), effective August 6, 2021, to succeed Founding CEO Rachel King. Mrs. King, who has served as CEO since the Company’s founding, has decided to retire for personal reasons and will continue her involvement with the Company through her role on the Board of Directors and serving as an advisor during a transition period. Mr. Semerjian, a seasoned executive with strong commercial oncology experience, will lead the Company as it advances its registration trials for uproleselan in AML, accelerates planning for potential commercialization, and continues to build out the Company’s pipeline.|
Second Quarter 2021 Financial Results
|●||Cash position: As of June 30, 2021, GlycoMimetics had cash and cash equivalents of $118.9 million as compared to $137.0 million as of December 31, 2020.|
|●||R&D Expenses: Research and development expenses increased to $10.2 million for the quarter ended June 30, 2021 as compared to $9.9 million for the quarter ended June 30, 2020. This increase was primarily due to an increase in clinical trial costs in our ongoing global Phase 3 clinical trial of uproleselan in individuals with relapsed/refractory AML.|
|●||G&A Expenses: General and administrative expenses were $4.2 million for the second quarter ended June 30, 2021 and 2020.|
|●||Shares Outstanding: Shares of common stock outstanding as of June 30, 2021 were 51,539,010.|
The Company will host a conference call and webcast today at 8:30 a.m. ET. The dial-in number for the conference call is (844) 413-7154 for domestic participants and (216) 562-0466 for international participants, with participant code 9977599. Participants are encouraged to connect 15 minutes in advance of the call to ensure they are able to connect. A webcast replay will be available via the “Investors” tab on the GlycoMimetics website for 30 days following the call. A dial-in phone replay will be available for 24 hours after the close of the call by dialing (855) 859-2056 for domestic participants and (404) 537-3406 for international participants, with participant code 9977599.
Discovered and developed by GlycoMimetics, uproleselan is an investigational, first-in-class, targeted inhibitor of E-selectin. Uproleselan (yoo’ pro le’ sel an), currently in a comprehensive Phase 3 development program in AML, has received Breakthrough Therapy Designation from the U.S. FDA and from the Chinese National Medical Products Administration for the treatment of adult AML patients with relapsed or refractory disease. Uproleselan is designed to block E-selectin (an adhesion molecule on cells in the bone marrow) from binding with blood cancer cells as a targeted approach to disrupting well-established mechanisms of leukemic cell resistance within the bone marrow microenvironment. In a Phase 1/2 clinical trial, uproleselan was evaluated in both newly diagnosed elderly and relapsed or refractory patients with AML. In both populations, patients treated with uproleselan together with standard chemotherapy achieved better-than-expected remission rates and overall survival compared to historical controls, which have been derived from results from third-party clinical trials evaluating standard chemotherapy, as well as lower-than-expected induction-related mortality rates. Treatment in these patient populations was generally well-tolerated, with fewer than expected adverse effects.
GMI-1359 is designed to simultaneously inhibit both E-selectin and CXCR4, which are adhesion molecules involved in tumor trafficking and metastatic spread. Preclinical studies indicate that targeting both E-selectin and CXCR4 with a single compound could improve efficacy in the treatment of cancers that involve the bone marrow, such as AML and multiple myeloma, or in solid tumors that metastasize to the bone, such as prostate cancer and breast cancer, as well as in osteosarcoma, a rare pediatric tumor affecting about 900 adolescents a year in the United States. GMI-1359 completed a Phase 1 clinical trial in healthy volunteers, and a Phase 1b clinical study designed to enable investigators to study dose ranging and to generate initial biomarker data around the drug’s activity in breast cancer patients is in progress. In the first two patients evaluated, the study showed evidence of on-target effects, immune-activation and cell mobilization. GMI-1359 has received Orphan Drug Designation and Rare Pediatric Disease Designation from the FDA for the treatment of osteosarcoma.
Discovered and developed by GlycoMimetics, GMI-1687 is a highly-targeted, highly-potent E-selectin antagonist. It has been shown in preclinical studies to be bioavailable via subcutaneous administration. During 2020, data from oral presentations at major scientific conferences pointed to the potential for a self-administered drug to treat VOC of sickle cell disease. Previously, GlycoMimetics demonstrated in preclinical models that GMI-1687 could be a potentially self-administered drug to be used in treatment of AML. The investigational drug also represents a potential life-cycle extension opportunity for uproleselan.
About GlycoMimetics, Inc.
GlycoMimetics is a clinical-stage biotechnology company discovering and developing glycobiology-based therapies for cancers, including acute myeloid leukemia (AML), and for inflammatory diseases with high unmet need. The Company’s science is based on an understanding of the role that carbohydrates play on the surface of every living cell and applying its specialized chemistry platform to discover small molecule drugs, known as glycomimetics, which alter these carbohydrate-mediated pathways in a variety of disease states, including signaling in cancer and inflammation. As a leader in this space, GlycoMimetics is leveraging this unique targeted approach to advance its pipeline of wholly owned drug candidates, with the goal of developing transformative therapies for serious diseases. GlycoMimetics is located in Rockville, MD in the BioHealth Capital Region. Learn more at www.glycomimetics.com.
This press release contains forward-looking statements. These forward-looking statements include those relating to the planned or potential clinical development of the Company’s product candidates, as well as the presentation of data from preclinical studies and clinical trials, and the potential benefits and impact of the Company’s drug candidates. Actual results may differ materially from those described in these forward-looking statements. For a further description of the risks associated with these statements, as well as other risks facing GlycoMimetics, please see the risk factors described in the Company’s annual report on Form 10-K filed with the U.S. Securities and Exchange Commission (SEC) on March 2, 2021, and other filings GlycoMimetics makes with the SEC from time to time. Forward-looking statements speak only as of the date of this release, and GlycoMimetics undertakes no obligation to update or revise these statements, except as may be required by law.
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GLYCOMIMETICS NAMES HAROUT SEMERJIAN AS NEW CHIEF EXECUTIVE OFFICER TO SUCCEED RETIRING CEO RACHEL KING
Mrs. King, the company’s founding CEO, will remain a Director and advisor to support transition
Rockville, MD, August 4, 2021 — GlycoMimetics, Inc. (Nasdaq: GLYC) today announced that its Board of Directors has appointed Harout Semerjian as chief executive officer (CEO), effective August 6, 2021, to succeed retiring Founding CEO Rachel King. Mr. Semerjian, a seasoned executive with strong oncology commercialization experience, will lead the company as it advances its registrational trials on its lead clinical candidate, uproleselan, in acute myeloid leukemia (AML), accelerates planning for potential commercialization, and continues to build out the company’s pipeline.
Tim Pearson, Chairman of the Board of Directors of GlycoMimetics, said, “On behalf of the entire Board, I offer sincere thanks to Rachel for her leadership of GlycoMimetics and for her commitment to the company’s employees and to patients who will hopefully benefit from GlycoMimetics’ technology. We look forward to her continued contributions as a board member.”
Mr. Pearson continued, “Harout is ideally positioned to lead GlycoMimetics into the company’s next phase of growth as we anticipate the completion of our Phase 3 trial and potential commercialization of uproleselan. He possesses the right leadership and operational skills as well as tremendous know-how from his many years at Novartis overseeing several oncology and hematology product launches and from subsequent C-level positions he has held within the industry. I am confident Harout will be an effective leader for GlycoMimetics into the future.”
Mrs. King, who has served as CEO for 18 years, has decided to retire for personal reasons and will continue her involvement with the company through her role on the Board of Directors and serving as an advisor during this transition. Mrs. King led GlycoMimetics’ evolution from an early venture-backed company through its initial public offering, strategic partnerships and the advancement of two late-stage clinical candidates. She also shepherded the company’s unique and productive glycochemistry platform to build a multi-faceted pipeline of drug candidates targeting key unmet needs in oncology, sickle cell disease and other indications.
“It has been a privilege and a pleasure to lead GlycoMimetics and to work with such an extraordinary team of colleagues," said Mrs. King. “I am extremely proud of what we have collectively accomplished in the 18 years since the company was founded. When I approached the Board to let them know that I was considering retirement, I committed to do all I can to ensure a smooth transition. I look forward to working with Harout and the team as a board member to continue to advance our programs. My decision to focus on spending more time with my family seems appropriately timed as we near an opportunity to commercialize our first product candidate.”
Mr. Semerjian is a global biopharmaceutical veteran. Over the last 25 years, he acquired extensive US, European and international commercialization experience having led multiple successful hematology/oncology product launches, including preparation for the launch of midostaurin in AML. During his 16-year tenure at Novartis, Mr. Semerjian held both strategic and operational leadership roles including US Hematology franchise head. He then served as EVP, chief commercial officer at Ipsen where he was accountable for worldwide commercialization and portfolio strategy. Most recently, he briefly served as CEO of Immunomedics before its sale to Gilead Sciences, Inc.
“I believe GlycoMimetics has exciting opportunities ahead. Uproleselan is a differentiated drug candidate already recognized by both FDA and the Chinese regulatory authority with Breakthrough Therapy Designations and the potential for significant impact across the spectrum of AML. The enthusiasm of independent investigators as well as the clinicians participating in our registration trials provides a foundation for a successful commercialization plan, should the readout and regulatory interactions prove positive. While there are just a few glycobiology-based therapeutics on the market today, the field of glycobiology is rapidly advancing and ripe with opportunity. The expertise resident in GlycoMimetics underlies my confidence in its platform’s productivity. Across the pipeline, I’m seeing novel and potentially game-changing therapies,”
said Mr. Semerjian. “I look forward to working with the outstanding team at GlycoMimetics as we strive to make a difference in the lives of patients with cancer and other diseases.”
About GlycoMimetics, Inc.
GlycoMimetics is a clinical-stage biotechnology company discovering and developing glycobiology-based therapies for cancers, including acute myeloid leukemia (AML), and for inflammatory diseases with high unmet need. The Company’s science is based on an understanding of the role that carbohydrates play on the surface of every living cell and applying its specialized chemistry platform to discover small molecule drugs, known as glycomimetics, that alter these carbohydrate-mediated pathways in a variety of disease states, including signaling in cancer and inflammation. As a leader in this space, GlycoMimetics is leveraging this unique targeted approach to advance its pipeline of wholly owned drug candidates, with the goal of developing transformative therapies for serious diseases. The Company’s lead drug candidate, uproleselan, has received Breakthrough Therapy Designation in the U.S. and China and is undergoing evaluation across a range of patient populations, including a Phase 3 trial in relapsed/refractory AML. GlycoMimetics is located in Rockville, MD in the BioHealth Capital Region. Learn more at www.glycomimetics.com.
This press release contains forward-looking statements. These forward-looking statements include those relating to the planned or potential clinical development, and the potential benefits and impact, of the Company’s product candidate, uproleselan, as well as the potential commercialization of uproleselan if it is approved. Actual results may differ materially from those described in these forward-looking statements. For a further description of the risks associated with these statements, as well as other risks facing GlycoMimetics, please see the risk factors described in the Company’s annual report on Form 10-K filed with the U.S. Securities and Exchange Commission (SEC) on March 2, 2021, and other filings GlycoMimetics makes with the SEC from time to time. Forward-looking statements speak only as of the date of this release, and GlycoMimetics undertakes no obligation to update or revise these statements, except as may be required by law.