GlycoMimetics (GLYC) Reports Q4 Loss of $0.47/Share

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GlycoMimetics Reports Fourth Quarter and Year-End 2015 Results

February 29, 2016 5:00 PM EST

ROCKVILLE, Md.--(BUSINESS WIRE)-- GlycoMimetics, Inc. (NASDAQ: GLYC) today reported financial results for the fourth quarter and year ended December 31, 2015. As of December 31, 2015, GlycoMimetics had cash and cash equivalents of $46.8 million, which reflects a $20.0 million non-refundable milestone payment received from Pfizer Inc. in August 2015 under the terms of the parties collaboration agreement for development of rivipansel (previously known as GMI-1070).

For the quarter ended December 31, 2015, GlycoMimetics reported total revenues of $35,000. GlycoMimetics did not recognize any revenues in the quarter ended December 31, 2014. For the year ended December 31, 2015, total revenues were $20.1 million compared to $15.0 million in... More