https://www.fiercebiotech.com/biotech/glycomimetics-fails-phase-3...

https://www.fiercebiotech.com/biotech/glycomimetics-fails-phase-3-blood-cancer-trial-causing-investors-sour-stock
https://ir.glycomimetics.com/news-releases/news-release-details/glycomimetics-announces-results-pivotal-phase-3-study

GlycoMimetics failed a pivotal phase 3 study in Relapsed/Refractory (R/R) Acute Myeloid Leukemia (AML).

The study was a large one. A total of 388 patients across 70 sites in nine countries were randomized 1:1 between treatment and placebo arms. Patients treated with uproleselan had a median overall survival of 13 months, compared to 12.3 months in the placebo arm.

It looks like uproleselan was added to chemotherapy as a first line therapy. The biotech was targeting a $650 million to $850 million near-term potential market opportunity in the U.S. alone.

Regulatory Designations uproleselan had received were Breakthrough Therapy- the U.S. FDA and Chinese Health Authority in adult relapsed/refractory AML, Fast Track- U.S. FDA in adult relapsed/refractory AML and Orphan Drug – U.S. FDA and European Union.

Their share price plunged last night 82.76%, market cap currently sit at $20.334 mill US. Still higher than ours with a pipeline heavily weighted on a failed drug.

https://glycomimetics.com/pipeline/