GlycoMimetics, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 03, 2023 at 08:35 am EDT
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GlycoMimetics, Inc. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported net loss was USD 10.36 million compared to USD 14.65 million a year ago. Basic loss per share from continuing operations was USD 0.17 compared to USD 0.28 a year ago.
Diluted loss per share from continuing operations was USD 0.17 compared to USD 0.28 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. 
