GlycoMimetics hits record low as blood cancer drug fails in late-stage study

Crescent Biopharma

06/05/2024 15:07

(Updates)
    ** Shares of drug developer GlycoMimetics  GLYC.O  fall
80%to hit record low of 36 cents
    ** In a late-stage study, co's drug uproleselan combined
with chemotherapy did not achieve a statistically significant
improvement in overall survival versus chemotherapy alone
    ** Co was studying the drug in patients with a type of
cancer known as acute myeloid leukemia which starts in the bone
marrow but most often quickly moves into the blood 
    ** Patients treated with uproleselan had a median overall
survival of 13 months, compared to 12.3 months in the placebo
arm
    ** The main goal of the study was overall survival without
censoring for transplant
    ** Up to last close, stock down ~85% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))