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GlycoMimetics Announces Pricing of Public Offering of Common Stock At $17 Per Share

Published: Mar 21, 2018

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 the pricing of its underwritten public offering of 7,000,000 shares of its common stock at a price to the public of $17.00 per share. The gross proceeds from the offering are expected to be $119.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by GlycoMimetics. The offering is expected to close on or about March 23, 2018, subject to customary closing conditions.

Jefferies and Cowen are acting as joint book-running managers for the offering. Stifel and SunTrust Robinson Humphrey are acting as co-lead managers for the offering, and Roth Capital Partners is acting as co-manager. GlycoMimetics has granted to the underwriters a 30-day option to purchase up to 1,050,000 additional shares of common stock at the public offering price, less the underwriting discount.

GlycoMimetics intends to use the net proceeds of the offering to conduct and complete its planned Phase 3 clinical development program for GMI-1271 in patients with acute myeloid leukemia (AML) patients and to fund the research and development of its other clinical-stage and preclinical product candidates, including drug discovery, and for working capital and other general corporate purposes.

A shelf registration statement relating to this offering was filed with the Securities and Exchange Commission (SEC) on September 28, 2017 and declared effective by the SEC on October 6, 2017. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. A final prospectus supplement and accompanying prospectus will be filed with the SEC. When available, copies of the final prospectus supplement and the accompanying prospectus may also be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by email at Prospectus_Department@Jefferies.com, or by phone at (877) 821-7388; or Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by phone at (631) 274-2806.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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