Glycomimetics Shares Fall After Leukemia Treatment Trial Misses Key Goal

Dow Jones10-29

By Adriano Marchese

Glycomimetics shares fell in premarket trading after the company said a trial for cancer treatment Uproleselan missed its primary target.

Shares fell 6.7% to 16 cents.

The Rockville, Maryland-based clinical-stage biotechnology company said the Phase 2 study didn't show a statistically significant improvement for patients receiving the drug in combination with chemotherapy versus chemotherapy alone.

The study was performed on adults with newly diagnosed acute myeloid leukemia who were 60 years or older and fit for intensive chemotherapy.

Acute myeloid leukemia is form of blood cancer which grows abnormal cells rapidly, building up in the bone marrow and blood, and interfering with normal blood cell production.

Glycomimetics said it will transfer the trial data to the National Cancer Institute and the Alliance for Clinical Trials in Oncology to determine if the treatment may merit further study in future clinical trials.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

October 29, 2024 07:01 ET (11:01 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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