GlycoMimetics Inc (GLYC) saw its loss widen to $7.93 million, or $0.34 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $7.56 million, or $0.40 a share. The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $7.97 million, compared with an operating loss of $7.58 million in the previous year period.
“In the first quarter of 2017, GlycoMimetics delivered on its plan to provide updates on both data and the status of its ongoing pipeline programs. The acceptance of our clinical and preclinical abstracts for presentation at key oncology congresses, including AACR and more recently, ASCO, reinforces our enthusiasm for the GMI-1271 and GMI-1359 programs, and demonstrates to the scientific and physician communities the relevance of our work to address unmet medical needs in a novel way. As we look forward to the remainder of 2017, our plan is to build on this progress with further data updates: at the Annual ASCO meeting in Chicago followed by the European Hematology Association meeting, both before the end of the second quarter in June. Additionally, we can report that the Phase 3 program to evaluate rivipansel for vaso-occlusive sickle cell crisis, according to our partner Pfizer, remains on track for completion in the second half of 2018, ” said Rachel King, GlycoMimetics’ chief executive officer.
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