GlycoMimetics names Harout Semerjian CEO to succeed retiring Rachel King; Q2 cash $118.9M

CRESCENT BIOPHARMA, INC.

CEO Rachel King retires effective Aug 6, 2021; remains on board and as consultant. Harout Semerjian appointed CEO effective Aug 6.
New CEO receives $595K salary, $200K sign-on bonus, target bonus 55%, and stock options for ~1.65M shares with milestone-based vesting.
As of June 30, 2021, cash and equivalents $118.9M (down from $137.0M at Dec 31, 2020); Q2 R&D $10.2M, G&A $4.2M.
Enrollment in Phase 3 relapsed/refractory AML trial and NCI Phase 2/3 trial expected to complete by year-end 2021.
Compensation Committee increased Inducement Plan shares from 500K to 2M; grants to new CEO from this plan.

item 2.02 item 5.02 item 7.01 item 8.01 item 9.01

Executive movements

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Appointed

Harout Semerjian

President and Chief Executive Officer

CBIO · CRESCENT BIOPHARMA, INC.

Effective: 2021-08-06
Filed: August 5, 2021, 7:59 PM ET

On August 2, 2021, the Board appointed Harout Semerjian as the Company’s President and Chief Executive Officer, effective as of August 6, 2021.

Departed

Rachel K. King

President and Chief Executive Officer

CBIO · CRESCENT BIOPHARMA, INC.

Effective: 2021-08-06
Successor: Harout Semerjian
Filed: August 5, 2021, 7:59 PM ET

On July 30, 2021, Rachel K. King, President and Chief Executive Officer of the Company, notified the Board of Directors of the Company (the “ Board ”) of her decision to retire from those positions, effective as of August 6, 2021.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Harout Semerjian was appointed as President and Chief Executive Officer at CRESCENT BIOPHARMA, INC..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

On August 2, 2021, the Board appointed Harout Semerjian as the Company’s President and Chief Executive Officer, effective as of August 6, 2021.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Rachel K. King retired as President and Chief Executive Officer at CRESCENT BIOPHARMA, INC..

Action: retired
Role: President and Chief Executive Officer

Exact text from the filing

On July 30, 2021, Rachel K. King, President and Chief Executive Officer of the Company, notified the Board of Directors of the Company (the “ Board ”) of her decision to retire from those positions, effective as of August 6, 2021.

View on SEC.gov

CRESCENT BIOPHARMA, INC. filing history →

Source: SEC EDGAR

accession 0001558370-21-010404

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