GlycoMimetics Shares Are Soaring Tuesday: Here's Why
Portfolio Pulse from Dylan Berman
GlycoMimetics, Inc. (NASDAQ:GLYC) shares surged after announcing a merger with Crescent Biopharma and securing $200 million in funding to advance its oncology pipeline. The merger is expected to close in Q2 2025, with GlycoMimetics stockholders holding 3.1% of the new entity.
October 29, 2024 | 5:19 pm
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GlycoMimetics shares surged 210% following the announcement of a merger with Crescent Biopharma and securing $200 million in funding. The merger will result in GlycoMimetics stockholders owning 3.1% of the new entity.
The announcement of a merger and significant funding is a positive development for GlycoMimetics, leading to a substantial increase in share price. The merger and funding are expected to enhance the company's oncology pipeline, which is likely to attract investor interest.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100