GlycoMimetics Q2 cash $60.2M; FDA clears GMI-1687 IND; uproleselan Phase 3 data expected mid-2023

CRESCENT BIOPHARMA, INC.

2022-Q2 EPS reported -$0.53 revenue$75,000

Cash and cash equivalents $60.2M as of June 30, 2022, down from $90.3M at Dec 31, 2021.
R&D expenses $8.0M (down from $10.2M YoY) due to lower uproleselan trial costs after enrollment ended.
G&A expenses $5.5M (up from $4.2M) for commercial start-up costs for uproleselan.
FDA cleared IND for GMI-1687 in sickle cell disease; company seeks licensing partner.
Phase 3 uproleselan trial (n=388) on track; survival events trigger expected mid-2023 with top-line data soon after.

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