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GlycoMimetics Announces Pricing of Public Offering of Common Stock

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Additional Relevant Details GlycoMimetics, a clinical stage biotechnology company focused on the discovery and development of novel glycomimetic drugs, today announced the pricing of its underwritten public offering of 3,300,000 shares of its common stock at a price to the public of $6.10per share. The net proceeds from the offering to GlycoMimetics are expected to be $18.6 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by GlycoMimetics. The offering is expected to close on or about June 22, 2016, subject to customary closing conditions.

GlycoMimetics intends to use the net proceeds of the offering to conduct planned clinical trials of GMI-1271, to fund the research and development of its preclinical pipeline, including drug discovery, and for working capital and other general corporate purposes.
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Occurred on:
Jun 17, 2016
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Related Keywords Public Offering, Gmi-1271