close

Fundraisings and IPOs

Date: 2017-05-30

Type of information: Private placement

Company: Glycomimetics (USA - Md)

Investors:

Amount: $92.6 million

Funding type: private placement

Planned used: GlycoMimetics intends to use the net proceeds of the offering to complete its ongoing Phase 1/2 clinical trial of GMI-1271 in patients with acute myeloid leukemia (AML) and its ongoing Phase 1 clinical trial of GMI-1271 in patients with multiple myeloma, to initiate and conduct a portion of a potential Phase 3 pivotal clinical trial of GMI-1271 in patients with relapsed/refractory AML, to fund the research and development of its preclinical pipeline, including drug discovery, and for working capital and other general corporate purposes.

Others:

  • • On May 30, 2017, GlycoMimetics announced the closing of its underwritten public offering of 8,050,000 shares of its common stock at a public offering price of $11.50 per share, which includes the exercise in full by the underwriters of their option to purchase up to 1,050,000 additional shares of common stock. All of the shares in the offering were offered by GlycoMimetics. The aggregate gross proceeds to GlycoMimetics from the offering, before deducting the underwriting discounts and commissions and offering expenses, were approximately $92.6 million.
  • • On May 24, 2017, GlycoMimetics announced the pricing of its underwritten public offering of 7,000,000 shares of its common stock at a price to the public of $11.50 per share. The gross proceeds from the offering are expected to be $80.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by GlycoMimetics. The offering is expected to close on or about May 30, 2017, subject to customary closing conditions.
  • • On May 22, 2017, GlycoMimetics announced that it intends to offer and sell, subject to market conditions, 6,000,000 shares of its common stock in an underwritten public offering. All of the shares of common stock to be sold in the offering will be offered by GlycoMimetics. The offering is subject to market conditions. Jefferies LLC and Cowen are acting as joint book-running managers for the offering. GlycoMimetics intends to grant the underwriters a 30-day option to purchase up to an additional 900,000 shares of its common stock.
 

Therapeutic area: Cancer - Oncology

Is general: Yes