GlycoMimetics, Inc. (GLYC) saw its loss narrow to $8.33 million, or $0.36 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $8.88 million, or $0.47 a share. The company has not recorded any revenues for the current quarter. However, it has reported a revenue of $0.04 million for the previous year period.
Operating loss for the quarter was $8.36 million, compared with an operating loss of $8.89 million in the previous year period.
"The ongoing trial is expected to complete enrollment in the first half of this year. Importantly the data to date suggest a very real potential for bringing a differentiated commercial product to this vastly underserved market. Beyond this program, we initiated two new trials in 2016, a Phase 1 clinical trial of GMI-1271 in multiple myeloma (MM), and a Phase 1 clinical trial of our next drug candidate GMI-1359, a dual antagonist of both E-selectin and CXCR4, in healthy volunteers. These accomplishments position us for significant news flow in 2017. In addition, the Phase 3 trial of rivipansel being conducted by Pfizer continues to enroll sickle cell patients with the goal of completion of enrollment in the second half of 2018," said Rachel King, GlycoMimetics’ chief executive officer.
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