GlycoMimetics merges with Crescent in reverse acquisition; uproleselan trial fails

CRESCENT BIOPHARMA, INC.

Crescent stockholders will own ~86.21% of combined company; GlycoMimetics stockholders ~13.79%.
Concurrent $200M PIPE financing from institutional investors; closing conditioned on merger.
NCI Phase 2/3 trial of uproleselan in AML failed to show statistically significant improvement in EFS or OS.
Merger expected to close in Q2 2025; combined company to be led by Crescent's CEO and board.
Support agreements cover ~98% of Crescent stock and ~9% of GlycoMimetics stock; 180-day lock-up.

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