trending Market Intelligence /marketintelligence/en/news-insights/trending/rzet52cpnq31ui9-yt-tvg2 content esgSubNav
In This List

GlycoMimetics prices $119M common stock offering

Blog

Gauging Supply Chain Risk In Volatile Times

Blog

Insight Weekly: Banks' efficiency push; vacuuming carbon; Big Pharma diversity goals

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Climate Credit Analytics: Diving into the model


GlycoMimetics prices $119M common stock offering

GlycoMimetics Inc. priced its previously announced public offering of 7 million shares at $17 each.

The Rockville, Md.-based biotechnology company expects to raise $119 million through the underwritten offering which is expected to close by March 23.

Jefferies and Cowen are acting as joint book-running managers for the offering, with Stifel and SunTrust Robinson Humphrey serving as co-lead managers.

Roth Capital Partners is acting as co-manager.

The underwriters have an option to buy up to an additional 1,050,000 shares at the offering price.

The company plans to use net proceeds to complete its phase 3 clinical development program for GMI-1271 in patients with acute myeloid leukemia. Proceeds will also be used for research and development, as well as working capital and general corporate purposes.