GlycoMimetics shares crash after Pfizer team dismisses their lead drug as a PhIII failure
Close to 8 years ago, the BD team at Pfizer signed a $340 million deal to license in a mid-stage drug from GlycoMimetics for a particularly painful complication of sickle cell disease. There was no exact word on the cash involved, but the pharma giant agreed to fund the entire Phase III effort they would need for an approval.
It didn’t work.
After the market closed on Friday, the biotech reported that Pfizer execs had passed on word that the trial failed the primary endpoint — time to discharge readiness — as well as key secondaries. We didn’t get the hard numbers, just the top-line news.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.
