FX.co ★ Why Is GlycoMimetics Stock Falling In Pre-market?

GlycoMimetics Inc. recently made public the top-line findings from a Phase 3 crucial worldwide study of Uproleselan. The research, involving 388 participants with relapsed/refractory acute myeloid leukemia, did not validate a substantial improvement in overall survival when uproleselan was combined with chemotherapy, compared to chemotherapy-only treatment.

Furthermore, GlycoMimetics also unveiled its initial financial outcomes for the first quarter of 2024. Compared to the same timeframe in 2023, the company's research and development expenditures rose to $6.0 million from $5.4 million. By March 31, 2024, their cash and cash equivalents stood at $31.3 million.

GlycoMimetics shares saw a decline of 51% in pre-market trading on Monday. For more health news, visit rttnews.com.