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GlycoMimetics Announces Proposed Public Offering 4,500,000 Shares of Common Stock

Published: Mar 19, 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 that it intends to offer and sell, subject to market conditions, 4,500,000 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 conduct and complete its planned Phase 3 clinical development program for GMI-1271 in patients with acute myeloid leukemia (AML) 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.

Jefferies and Cowen are acting as joint book-running managers for the offering. GlycoMimetics also intends to grant the underwriters a 30-day option to purchase up to an additional 675,000 shares of its common stock.

A shelf registration statement relating to the shares of common stock offered in the public offering described above 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 will be 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 will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus, when available, 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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