GlycoMimetics Q2 2024 Financials: Capital Structure Insights

TL;DR

GlycoMimetics Q2 2024: Retained earnings and paid-in capital shifts detailed.

AI Summary

GlycoMimetics Inc. reported its second quarter 2024 financial results on August 8, 2024. The company's financial statements for the period ending June 30, 2024, show significant changes in retained earnings and additional paid-in capital compared to previous periods. Specific dollar amounts for these accounts are detailed within the filing, reflecting the company's ongoing financial activities and capital structure.

Why It Matters

This filing provides a snapshot of GlycoMimetics' financial health and capital structure, which is crucial for investors to assess the company's stability and future funding capabilities.

Risk Assessment

Risk Level: medium — The filing details financial performance and capital structure, which can indicate potential risks or opportunities for investors.

Key Numbers

• 64483958 — Total Assets (As of June 30, 2024, indicating the company's total resources.)
• 64393744 — Total Liabilities (As of June 30, 2024, showing the company's total obligations.)

Key Players & Entities

• GLYCOMIMETICS INC (company) — Filer
• 20240630 (date) — Period of Report
• 20240808 (date) — Filing Date
• 240-243-1201 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• glyc-20240630x10q.htm (10-Q) — 1216KB
• glyc-20240630xex31d1.htm (EX-31.1) — 17KB
• glyc-20240630xex31d2.htm (EX-31.2) — 16KB
• glyc-20240630xex32d1.htm (EX-32.1) — 9KB
• 0001558370-24-011579.txt ( ) — 5219KB
• glyc-20240630.xsd (EX-101.SCH) — 36KB
• glyc-20240630_cal.xml (EX-101.CAL) — 33KB
• glyc-20240630_def.xml (EX-101.DEF) — 171KB
• glyc-20240630_lab.xml (EX-101.LAB) — 346KB
• glyc-20240630_pre.xml (EX-101.PRE) — 293KB
• glyc-20240630x10q_htm.xml (XML) — 760KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 3 Unaudited Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 4 Unaudited Statements of Stockholders' Equity for the three and six months ended June 30, 2024 and 2023 5 Unaudited Statements of Cash Flows for the six months ended June 30, 2024 and 2023 6 Notes to Unaudited Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 28

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33

Other Information

Item 5. Other Information 33

Exhibits

Item 6. Exhibits 35

Signatures

Signatures 36 Table of Contents

FINANCIAL INFORMATIO N

Part I. FINANCIAL INFORMATIO N

FINANCIAL STATEMENT S

ITEM 1. FINANCIAL STATEMENT S GLYCOMIMETICS, INC. Balance She ets June 30, December 31, 2024 2023 Assets (Unaudited) Current assets: Cash and cash equivalents $ 22,386,052 $ 41,792,830 Prepaid expenses and other current assets 1,471,453 1,997,904 Total current assets 23,857,505 43,790,734 Prepaid research and development expenses — 603,737 Operating lease right-of-use asset 424,209 767,828 Other assets 137,105 154,176 Total assets $ 24,418,819 $ 45,316,475 Liabilities & stockholders' equity Current liabilities: Accounts payable $ 950,763 $ 868,115 Accrued expenses 2,956,778 5,225,557 Lease liabilities 448,775 741,558 Total current liabilities 4,356,316 6,835,230 Lease liabilities, net of current portion — 66,844 Total liabilities 4,356,316 6,902,074 Stockholders' equity: Preferred stock; $ 0.001 par value; 5,000,000 shares authorized, no shares issued and outstanding at June 30, 2024 and December 31, 2023 — — Common stock; $ 0.001 par value; 150,000,000 shares authorized at June 30, 2024; 100,000,000 shares authorized at December 31, 2023; 64,483,958 shares issued and outstanding at June 30, 2024 ; 64,393,744 shares issued and outstanding at December 31, 2023 64,484 64,394 Additional paid-in capital 497,315,304 494,835,219 Accumulated deficit ( 477,317,285 ) ( 456,485,212 ) Total stockholders' equity 20,062,503 38,414,401 Total liabilities and stockholders' equity $ 24,418,819 $ 45,316,475 The accompanying notes are an integral part of the unaudited financial statements. 3 Table of Contents GLYCOMIMETICS, INC. Unaudited Statements of Ope rations and Comprehensive Loss Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Costs and expenses: Research and development expense $ 6,285,734 $ 4,072,708 12,311,195 9,491,414 General and administrative expense 4,071,960 4,857,237 9,161,526 10,379,

View Full Filing

View this 10-Q filing on SEC EDGAR