ROCKVILLE, Md.--(BUSINESS WIRE)--GlycoMimetics, Inc. (NASDAQ: GLYC), a clinical stage biotechnology company focused on the discovery and development of novel glycomimetic drugs, today 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, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

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 (MM), 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.

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.

About GlycoMimetics, Inc.

GlycoMimetics is a clinical-stage biotechnology company focused on cancer and sickle cell disease. GlycoMimetics' most advanced drug candidate, rivipansel, a pan-selectin antagonist, is being developed for the treatment of vaso-occlusive crisis in sickle cell disease and is being evaluated in a Phase 3 clinical trial being conducted by its strategic collaborator, Pfizer. GlycoMimetics' wholly-owned drug candidate, GMI-1271, an E-selectin antagonist, is being evaluated in an ongoing Phase 1/2 clinical trial as a potential treatment for AML and in a Phase 1 clinical trial in multiple myeloma. GlycoMimetics has also recently initiated a clinical trial with a third drug candidate, GMI-1359, a combined CXCR4 and E-selectin antagonist. GlycoMimetics is located in Rockville, Maryland in the BioHealth Capital Region.