GlycoMimetics Faces Delisting Concerns

TL;DR

GlycoMimetics might get delisted, stock watch!

AI Summary

GlycoMimetics, Inc. filed an 8-K on June 26, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is based in Rockville, MD, and its principal executive offices are located at 9708 Medical Center Drive.

Why It Matters

This filing indicates potential issues with GlycoMimetics' continued listing on a stock exchange, which could impact its stock price and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to investors.

Key Players & Entities

• GlycoMimetics, Inc. (company) — Registrant
• June 21, 2024 (date) — Earliest event reported
• June 26, 2024 (date) — Date of report
• 9708 Medical Center Drive (address) — Principal executive offices
• Rockville, MD (location) — City, State of principal executive offices

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value GLYC The Nasdaq Stock Mar
• $1.00 — e Company's common stock has been below $1.00 per share for 30 consecutive business d

Filing Documents

• glyc-20240621x8k.htm (8-K) — 35KB
• 0001558370-24-009508.txt ( ) — 169KB
• glyc-20240621.xsd (EX-101.SCH) — 3KB
• glyc-20240621_lab.xml (EX-101.LAB) — 18KB
• glyc-20240621_pre.xml (EX-101.PRE) — 13KB
• glyc-20240621x8k_htm.xml (XML) — 5KB

01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On June 21, 2024, GlycoMimetics, Inc. (the " Company ") received a notice from The Nasdaq Stock Market (" Nasdaq ") that the Company is not in compliance with Nasdaq's Listing Rule 5450(a)(1), as the minimum bid price of the Company's common stock has been below $1.00 per share for 30 consecutive business days. The notification of noncompliance has no immediate effect on the listing or trading of the Company's common stock on The Nasdaq Global Market. The Company has 180 calendar days, or until December 18, 2024, to regain compliance with the minimum bid price requirement. To regain compliance, the minimum bid price of the Company's common stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during this 180-calendar day grace period. In the event the Company does not regain compliance with the minimum bid price requirement by December 18, 2024, the Company may be eligible for an additional 180-calendar day compliance period if it elects to transfer to The Nasdaq Capital Market to take advantage of the additional compliance period offered on that market. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and would need to provide written notice of its intention to cure the bid price deficiency during the second compliance period. The Company's failure to regain compliance during this period could result in delisting. The Company intends to monitor actively the bid price of its common stock and will consider available options to regain compliance with the listing requirements. There can be no assurance that the Company will be able to regain compliance with Nasdaq's Listing Rule 5450(a)(1) or will otherwise be in compliance with

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GLYCOMIMETICS, INC. By: /s/ Brian M. Hahn Date: June 26, 2024 Brian M. Hahn Senior Vice President and Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR