GlycoMimetics rallies on renewed hopes for sickle cell drug

Thinly traded micro cap GlycoMimetics (GLYC +45.1%) jumps on more than a 6x surge in volume in reaction to its post hoc analysis of the failed Phase 3 RESET trial evaluating rivipansel for the treatment of vaso-occlusive crisis (VOC) in hospitalized sickle cell disease (SCD) patients that, it says, showed a statistically significant improvement in the time readiness for discharge, the primary endpoint, in participants who received rivipansel within ~26 hours of the onset of pain.

The results, along with new biomarker data, will be presented in late September at the Foundation for Sickle Cell Disease Research meeting.

The company plans to review the data with the FDA to determine next steps, if any, in a registration path.

In early August 2019, shares plummeted after licensee Pfizer announced that RESET failed to achieve the primary endpoint. It returned all rights to the pan-selectin inhibitor to GLYC four months ago.

Data on GMI-1687, a subcutaneously administered E-selectin inhibitor called uproleselan that company believes could be a more effective approach to treating acute VOC in SCD will also be presented at the September meeting.

https://seekingalpha.com/news/3582708-glycomimetics-rallies-on-renewed-hopes-for-sickle-cell-drug