GlycoMimetics(US:GLYC)2019-11-09 16:00Financial Data and Key Metrics Changes - As of September 30, 2019, GlycoMimetics' cash and cash equivalents were $170.9 million, down from $209.9 million as of December 31, 2018, indicating a decrease of $39 million [25] - Research and development expenses increased to $10.7 million for Q3 2019, compared to $9.7 million for Q3 2018, reflecting a rise of approximately 10.3% [25] - General and administrative expenses rose to $3.4 million for Q3 2019, up from $2.8 million in Q3 2018, marking an increase of about 21.4% [26] Business Line Data and Key Metrics Changes - The company is focusing on two key AML registration trials: one in the relapsed/refractory setting and another sponsored by the NCI for newly diagnosed patients [18] - Enrollment in both trials is ongoing, with strong enthusiasm from investigators [18] Market Data and Key Metrics Changes - The company is actively recruiting patients across multiple countries, including the U.S., Canada, Australia, and several European nations, for its clinical trials [52] Company Strategy and Development Direction - GlycoMimetics is prioritizing its resources on trials that could lead to registration, specifically the two AML studies [34] - The company is exploring the potential of uproleselan in newly diagnosed patients who are unfit for chemotherapy, with plans for a different study design [34] - The focus on E-selectin and its role in AML is central to the company's strategy, with ongoing research into its impact on drug resistance [17] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about the upcoming ASH meeting, where new data supporting the role of E-selectin in AML will be presented [22] - The company is well-financed to continue its operations into 2022 and through key readouts, with a robust pipeline stemming from its specialized chemistry platform [23] Other Important Information - The Phase III study of rivipansel, partnered with Pfizer, failed to meet its primary and key secondary endpoints, leading to disappointment but an expectation for future data presentation [21] Q&A Session Summary Question: Impact of E-selectin group characteristics on survival rates - Management noted that while there are variations in clinical characteristics between high and low E-selectin groups, the overall risk profile remains high, and focusing on one component may not accurately reflect overall survival [32] Question: Discontinuation of collaboration with Haemato Oncology Foundation - Management emphasized the need to focus on trials that could drive registration and mentioned that the evolving standard of care influenced their decision [34] Question: Timeline for GMI-1359 program data - Data from the GMI-1359 program is expected at the end of 2020, with considerations for various cancer populations being explored [37] Question: Communication with NCI regarding trial data - Management confirmed that communication with NCI will be coordinated regarding the dissemination of interim data [44] Question: Cash runway and burn rate guidance - The cash burn rate is approximately $5 million per month for the remainder of 2019, increasing to about $6 million per month in 2020, allowing for cash availability into 2022 [57]