GlycoMimetics Q1 cash $76.5M; Phase 3 uproleselan OS events trigger now mid-2023; workforce cut 20%

CRESCENT BIOPHARMA, INC.

Cash and cash equivalents $76.5M at March 31, 2022, down from $90.3M at Dec 31, 2021.
Phase 3 uproleselan trial in relapsed/refractory AML expects OS events trigger mid-2023, top line data shortly after.
IND-enabling studies for GMI-1687 completed; submission on track for H1 2022 in sickle cell disease VOC.
Workforce reduced by 20% in April, mainly early-stage research; executive team added CCO and VP of Tech Ops.
R&D expenses $9.6M (down from $11.1M); G&A $5.1M (up from $4.2M); no revenue recognized.

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