ARTICLE | Financial News

GlycoMimetics resets IPO range

January 8, 2014 1:30 AM UTC

Inflammation and infectious play GlycoMimetics Inc. (Gaithersburg, Md.) amended its IPO and now plans to raise $46 million through the sale of 5.8 million shares at $8. According to the SEC filing, GlycoMimetics existing investors and partner Pfizer Inc. (NYSE:PFE) have indicated an interest to purchase up to $14 million worth of shares in the offering, which is being underwritten by Jefferies; Barclays; Stifel; and Canaccord.

In early November, GlycoMimetics was rumored to have postponed its IPO, and in late December the company filed an S-1A that no longer contained details on the offering, including a share price range or proposed number of shares. In late October, GlycoMimetics had said it planned to sell 4 million shares at $14-$16. At the $15 midpoint, the company would have raised $85 million (see BioCentury Extra, Dec. 20, 2013). ...