GlycoMimetics rises as sickle cell disease therapy shows promise

Crescent Biopharma

04/01/2024 12:53

** Shares of drug developer GlycoMimetics  GLYC.O  rise 4.3%
to $3.16 premarket
    ** Co says its sickle cell disease therapy candidate has met
its main and secondary goals in an early-stage study evaluating
its safety
    ** GLYC says the therapy's compound also has potential
application in inflammatory diseases
     ** Co also says the therapy helps with pain that occurs
when sickled red blood cells impede blood flow and delivery of
oxygen throughout the body, adding that there is no U.S. FDA
approved treatment for the pain
    ** All 4 brokerages covering GLYC rate the stock "buy" or
higher; their median PT is $8
    ** GYLC stock fell 22.1% in 2023

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))