GlycoMimetics(GLYC) - 2023 Q4 - Annual Results

Financial Performance - As of December 31, 2023, GlycoMimetics reported cash and cash equivalents of $41.8 million, down from $47.9 million as of December 31, 2022[2][19]. - Research and development expenses for Q4 2023 decreased to $5.3 million, compared to $5.9 million in Q4 2022, and for the full year 2023, they decreased to $20.1 million from $28.4 million in 2022[9][17]. - General and administrative expenses for Q4 2023 decreased to $4.3 million from $4.7 million in Q4 2022, while for the full year, they slightly increased to $19.2 million from $19.1 million[13][17]. - The company reported a net loss of $9.1 million for Q4 2023, compared to a net loss of $10.2 million in Q4 2022[17]. - Shares of common stock outstanding as of December 31, 2023, were 64,393,744[13]. Clinical Development - The pivotal Phase 3 study of uproleselan in relapsed/refractory acute myeloid leukemia (AML) is expected to report topline results in Q2 2024[4][5]. - A New Drug Application (NDA) for uproleselan is planned to be submitted to the FDA by the end of 2024, contingent on positive outcomes from the pivotal study[5][9]. - The Phase 1a study of GMI-1687 met its primary and secondary endpoints, demonstrating safety and tolerability[5][9]. - A total of 388 patients were enrolled in the pivotal Phase 3 trial of uproleselan, with a median follow-up of over three years[9]. Leadership Changes - GlycoMimetics appointed Shantha Tyavanagimatt, Ph.D., as Senior Vice President of Technical Operations to strengthen its leadership team[7].