GlycoMimetics Q3 2024 Update: Equity Changes Detailed

TL;DR

GlycoMimetics Q3 2024: Equity accounts like retained earnings and paid-in capital updated. Check filing for specifics.

AI Summary

GlycoMimetics Inc. reported its third quarter 2024 results on November 13, 2024. The company's financial statements for the period ending September 30, 2024, show significant changes in retained earnings and additional paid-in capital. Specific dollar amounts and dates related to these equity accounts are detailed within the filing.

Why It Matters

Changes in retained earnings and additional paid-in capital can indicate the company's profitability, stock issuance activities, and overall financial health, impacting investor confidence.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, GlycoMimetics faces inherent risks related to drug development, regulatory approvals, and market competition, which can significantly impact its financial performance.

Key Numbers

• 64,483,958 — Additional Paid-In Capital (As of September 30, 2024)
• 64,393,744 — Retained Earnings (As of September 30, 2024)

Key Players & Entities

• GLYCOMIMETICS INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241113 (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-20240930x10q.htm (10-Q) — 1286KB
• glyc-20240930xex10d1.htm (EX-10.1) — 22KB
• glyc-20240930xex10d2.htm (EX-10.2) — 19KB
• glyc-20240930xex10d3.htm (EX-10.3) — 58KB
• glyc-20240930xex10d4.htm (EX-10.4) — 50KB
• glyc-20240930xex31d1.htm (EX-31.1) — 17KB
• glyc-20240930xex31d2.htm (EX-31.2) — 16KB
• glyc-20240930xex32d1.htm (EX-32.1) — 9KB
• 0001558370-24-015537.txt ( ) — 5658KB
• glyc-20240930.xsd (EX-101.SCH) — 38KB
• glyc-20240930_cal.xml (EX-101.CAL) — 35KB
• glyc-20240930_def.xml (EX-101.DEF) — 174KB
• glyc-20240930_lab.xml (EX-101.LAB) — 365KB
• glyc-20240930_pre.xml (EX-101.PRE) — 308KB
• glyc-20240930x10q_htm.xml (XML) — 803KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 3 Unaudited Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 4 Unaudited Statements of Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 5 Unaudited Statements of Cash Flows for the nine months ended September 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 25

Controls and Procedures

Item 4. Controls and Procedures 25

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 26

Risk Factors

Item 1A. Risk Factors 26

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Other Information

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 29

Signatures

Signatures 31 Table of Contents

FINANCIAL INFORMATIO N

Part I. FINANCIAL INFORMATIO N

FINANCIAL STATEMENT S

ITEM 1. FINANCIAL STATEMENT S GLYCOMIMETICS, INC. Balance She ets September 30, December 31, 2024 2023 Assets (Unaudited) Current assets: Cash and cash equivalents $ 14,391,664 $ 41,792,830 Prepaid expenses and other current assets 1,254,157 1,997,904 Total current assets 15,645,821 43,790,734 Prepaid research and development expenses — 603,737 Operating lease right-of-use asset — 767,828 Other assets 52,320 154,176 Total assets $ 15,698,141 $ 45,316,475 Liabilities & stockholders' equity Current liabilities: Accounts payable $ 581,794 $ 868,115 Accrued expenses 3,477,929 5,225,557 Lease liabilities 262,133 741,558 Total current liabilities 4,321,856 6,835,230 Lease liabilities, net of current portion — 66,844 Total liabilities 4,321,856 6,902,074 Stockholders' equity: Preferred stock; $ 0.001 par value; 5,000,000 shares authorized, no shares issued and outstanding at September 30, 2024 and December 31, 2023 — — Common stock; $ 0.001 par value; 150,000,000 shares authorized at September 30, 2024; 100,000,000 shares authorized at December 31, 2023; 64,483,958 shares issued and outstanding at September 30, 2024; 64,393,744 shares issued and outstanding at December 31, 2023 64,484 64,394 Additional paid-in capital 498,453,419 494,835,219 Accumulated deficit ( 487,141,618 ) ( 456,485,212 ) Total stockholders' equity 11,376,285 38,414,401 Total liabilities and stockholders' equity $ 15,698,141 $ 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Costs and expenses: Research and development expense $ 1,715,347 $ 5,291,790 $ 14,026,542 $ 14,783,204 General and administrative expense 4,005,857 4,

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View this 10-Q filing on SEC EDGAR