GlycoMimetics Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>GlycoMimetics Inc. has filed its 2023 10-K report, detailing financial data and corporate information.</b>

AI Summary

GLYCOMIMETICS INC (CBIO) filed a Annual Report (10-K) with the SEC on March 27, 2024. GlycoMimetics Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company is incorporated in Delaware and headquartered in Rockville, MD. The SIC code for the company is 2834 (Pharmaceutical Preparations). The filing includes data related to various stock incentive plans and equity awards. Financial data points such as retained earnings and additional paid-in capital are detailed for multiple fiscal years.

Why It Matters

For investors and stakeholders tracking GLYCOMIMETICS INC, this filing contains several important signals. This filing provides a comprehensive overview of GlycoMimetics' financial health and operational status for the past fiscal year, crucial for investors and stakeholders. The detailed breakdown of stock-based compensation and equity plans offers insight into executive and employee incentives, which can impact future performance and dilution.

Risk Assessment

Risk Level: medium — GLYCOMIMETICS INC shows moderate risk based on this filing. The company operates in the pharmaceutical preparations industry, which is subject to significant regulatory hurdles, clinical trial risks, and market competition, as indicated by its SIC code and the nature of its business.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess the company's financial position and future prospects.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-03-27 — Filing Date (Date of submission)
• 64393744 — Value (Related to ShareBasedPaymentArrangementNonemployeeMember)
• 54377798 — Value (Related to ShareBasedPaymentArrangementNonemployeeMember)

Key Players & Entities

• GLYCOMIMETICS INC (company) — Filer name
• 20231231 (date) — Fiscal year end
• 20240327 (date) — Filing date
• 2834 (industry_code) — Standard Industrial Classification
• Rockville, MD (location) — Business address
• 240-243-1201 (phone) — Business phone

FAQ

Risk Factors

• Regulatory Risks [high — regulatory]: The company's operations are subject to extensive regulation by government agencies, which can impact product development, approval, and marketing.
• Market Competition [high — market]: The pharmaceutical industry is highly competitive, with numerous companies developing similar therapies, posing a risk to market share and pricing.
• Funding and Liquidity [medium — financial]: As a development-stage company, GlycoMimetics may require significant additional funding to support its ongoing research and development activities.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-27: 10-K Filing Date — Indicates when the annual report was submitted to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document for understanding a company's financial health and operations for the past year.)

SIC Code

Standard Industrial Classification code, used to classify businesses based on their primary activity. (Helps categorize GlycoMimetics within the pharmaceutical preparations industry.)

Key Financial Figures

• $0.001 — nge on which Registered Common Stock, $0.001 par value GLYC The Nasdaq Stock Mar

Filing Documents

• glyc-20231231x10k.htm (10-K) — 1739KB
• glyc-20231231xex10d13.htm (EX-10.13) — 24KB
• glyc-20231231xex10d16.htm (EX-10.16) — 41KB
• glyc-20231231xex10d20.htm (EX-10.20) — 101KB
• glyc-20231231xex23d1.htm (EX-23.1) — 11KB
• glyc-20231231xex31d1.htm (EX-31.1) — 11KB
• glyc-20231231xex31d2.htm (EX-31.2) — 12KB
• glyc-20231231xex32d1.htm (EX-32.1) — 9KB
• glyc-20231231xex97d1.htm (EX-97.1) — 46KB
• glyc-20231231x10k006.jpg (GRAPHIC) — 86KB
• glyc-20231231xex10d20002.jpg (GRAPHIC) — 1KB
• 0001558370-24-004013.txt (&nbsp;) — 6957KB
• glyc-20231231.xsd (EX-101.SCH) — 43KB
• glyc-20231231_cal.xml (EX-101.CAL) — 46KB
• glyc-20231231_def.xml (EX-101.DEF) — 170KB
• glyc-20231231_lab.xml (EX-101.LAB) — 411KB
• glyc-20231231_pre.xml (EX-101.PRE) — 330KB
• glyc-20231231x10k_htm.xml (XML) — 918KB

BUSINESS

BUSINESS 1 ITEM 1A.

RISK FACTORS

RISK FACTORS 25 ITEM 1B. UNRESOLVED STAFF COMMENTS 54 ITEM 1C. CYBERSECURITY 54 ITEM 2.

PROPERTIES

PROPERTIES 55 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 55 ITEM 4. MINE SAFETY DISCLOSURES 56 PART II 56 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 56 ITEM 6. [RESERVED] 56 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 57 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 67 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 67 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 67 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 67 ITEM 9B. OTHER INFORMATION 68 ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 68 PART III 68 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 68 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 68 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 68 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 68 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 68 PART IV 69 ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 69 ITEM 16. FORM 10-K SUMMARY 72

SIGNATURES

SIGNATURES 73 i Table of Contents PART I ITEM 1. BUSINES S Company Overview We are a late clinical-stage biotechnology company focused on improving the lives of people living with cancer and inflammatory diseases by leveraging the inhibition of carbohydrate interactions that occur on the surface of cells. We are developing a pipeline of proprietary glycomimetics, which are small molecules that mimic the structure of carbohydrates involved in important biological processes, to inhibit disease-related functions of carbohydrates such as the roles they play in cancers and inflammation. We believe this represents an innovative approach to drug discovery to treat a wide range of diseases. We are focusing our efforts on drug candidates for diseases that we believe will qualify for Orphan Drug designation. Our proprietary glycomimetics platform is based on our expertise in carbohydrate chemistry and our understanding of the role carbohydrates play in key biological processes. Most human proteins are modified by the addition of complex carbohydrate structures to the surface of such proteins, which affects the functions of the proteins and their interactions with other molecules. Our research and development efforts have focused on drug candidates targeting selectins, which are proteins that serve as adhesion molecules and bind to carbohydrates that are involved in the inflammatory component and progression of a wide range of diseases, including hematologic disorders, cancer and cardiovascular disease. For example, we believe that members of the selectin family play a key role in tumor metastasis and resistance to chemotherapy. Inhibiting specific carbohydrates from binding to selectins has long been viewed as a potentially attractive approach for therapeutic intervention. The ability to successfully develop drug-like carbohydrate compounds that inhibit binding with selectins, known as selectin antagonists, has historically been limited by their potency and the

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View this 10-K filing on SEC EDGAR