GlycoMimetics’ AML drug flunks Phase 3 trial, quashing filing plans as stock sinks

Gly­coMimet­ics’ stock $GLYC tanked over 60% in pre­mar­ket trad­ing Mon­day morn­ing af­ter the biotech an­nounced a Phase 3 tri­al fail­ure for its lead drug, up­ro­le­se­lan, in re­lapsed/re­frac­to­ry acute myeloid leukemia.

In the 388-pa­tient tri­al, those treat­ed with up­ro­le­se­lan and chemother­a­py had a me­di­an over­all sur­vival of 13 months com­pared to 12.3 months for those on a place­bo and chemother­a­py, mean­ing the com­pa­ny’s drug com­bo did not achieve a sta­tis­ti­cal­ly sig­nif­i­cant im­prove­ment in the pri­ma­ry end­point of over­all sur­vival in the in­tent-to-treat pop­u­la­tion.

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