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

GlycoMimetics prices $119M common stock offering

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Essential IR Insights Newsletter Fall - 2023

Case Study

A Corporation Clearly Pinpoints Activist Investor Activity

Blog

Insight Weekly: Bank mergers of equals return; energy tops S&P 500; green bond sales to rise


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.