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GlycoMimetics' lead drug flunks late-stage study; shares down 54% premarket

Aug. 05, 2019 6:55 AM ETGlycoMimetics, Inc. (GLYC) Stock, PFE StockBy: Douglas W. House, SA News Editor9 Comments
  • Thinly traded micro cap GlycoMimetics (NASDAQ:GLYC) slumps 54% premarket on increased volume in reaction to licensee Pfizer's (NYSE:PFE) announcement that a Phase 3 clinical trial, RESET, evaluating rivipansel for the treatment of vaso-occlusive crisis (VOC) in sickle cell disease patients at least six years old who were hospitalized for VOC and required intravenous opioids failed to achieve the primary endpoint or key secondary endpoints.
  • Complete data will be submitted for presentation at a future medical conference.
  • The company in-licensed the pan-selectin inhibitor from GLYC in October 2011.

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