GlycoMimetics downgraded at H.C. Wainwright after AML trial misses endpoint

As previously reported, H.C. Wainwright analyst Edward White downgraded GlycoMimetics to Neutral from Buy and removed the firm’s prior $8 price target after the company announced topline results from its pivotal Phase 3 trial of uproleselan in patients with relapsed or refractory acute myeloid leukemia, or AML. The firm awaits further data from the Phase 3 study and the company’s updated strategy for the potential development of uproleselan after GlycoMimetics announced that uproleselan combined with chemotherapy did not achieve a statistically significant improvement in overall survival, or OS, in the intent-to-treat population versus chemotherapy alone