GlycoMimetics down on Phase III delay

GlycoMimetics Inc. (NASDAQ:GLYC) fell $1.04 (13%) to $7.19 on Friday after it said Phase III testing of rivipansel ( GMI-1070) for sickle cell disease will be "substantially delayed" due to manufacturing issues.

Partner Pfizer Inc. (NYSE:PFE) is manufacturing the small molecule glycomimetic inhibitor of selectins E, P and L ( SELE; SELP; SELL). Pfizer spokesperson Steven Danehy said the pharma is still investigating the problem and cannot say when it will be resolved. He said Pfizer is not using a contract manufacturer. Pfizer had expected to begin the Phase III trial in 2H14. ...