GlycoMimetics' follow-on brings in $20.1M

GlycoMimetics Inc. (NASDAQ:GLYC) raised $20.1 million through the sale of 3.3 million shares at $6.10 in a follow-on underwritten by Jefferies, Cowen, Stifel and SunTrust. GlycoMimetics proposed the offering after market hours Thursday, when it closed at $7.37.

The company's most advanced program is rivipansel ( GMI-1070), a glycomimetic inhibitor of E selectin ( SELE; CD62E), P selectin ( SELP) and L selectin (SELL) that is partnered with Pfizer Inc. (NYSE:PFE). Last year, the pharma started a Phase III study of rivipansel to treat vaso-occlusive crisis in patients with sickle cell disease. ...