GlycoMimetics Faces Delisting Concerns
Ticker: CBIO · Form: 8-K · Filed: Dec 26, 2024 · CIK: 1253689
| Field | Detail |
|---|---|
| Company | Glycomimetics INC (CBIO) |
| Form Type | 8-K |
| Filed Date | Dec 26, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
TL;DR
GlycoMimetics might get delisted, stock could be in trouble.
AI Summary
GlycoMimetics, Inc. filed an 8-K on December 26, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard as of December 19, 2024. The company, incorporated in Delaware, is based in Rockville, MD.
Why It Matters
This filing indicates potential issues with GlycoMimetics' continued listing on an exchange, which could impact investor confidence and stock liquidity.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards suggests significant financial or operational distress for the company.
Key Numbers
- 001-36177 — SEC File Number (Identifies the company's filing history with the SEC.)
Key Players & Entities
- GlycoMimetics, Inc. (company) — Registrant
- December 19, 2024 (date) — Earliest event reported
- December 26, 2024 (date) — Filing date
- Rockville, MD (location) — Principal executive offices
FAQ
What specific listing rule or standard has GlycoMimetics, Inc. failed to satisfy?
The filing does not specify the exact rule or standard that GlycoMimetics, Inc. has failed to satisfy, only that a notice has been issued.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported is dated December 19, 2024.
When was this Form 8-K filed with the SEC?
This Form 8-K was filed on December 26, 2024.
What is the principal executive office address for GlycoMimetics, Inc.?
The principal executive offices are located at 9708 Medical Center Drive, Rockville, MD 20850.
What is the company's Standard Industrial Classification (SIC) code?
The company's SIC code is 2834, which corresponds to Pharmaceutical Preparations.
Filing Stats: 702 words · 3 min read · ~2 pages · Grade level 13.3 · Accepted 2024-12-26 16:30:19
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value GLYC The Nasdaq Stock Mar
- $1.00 — the Company's common stock is at least $1.00 per share for a minimum of 10 consecuti
Filing Documents
- glyc-20241219x8k.htm (8-K) — 39KB
- 0001558370-24-016472.txt ( ) — 155KB
- glyc-20241219.xsd (EX-101.SCH) — 4KB
- glyc-20241219_lab.xml (EX-101.LAB) — 15KB
- glyc-20241219_pre.xml (EX-101.PRE) — 10KB
- glyc-20241219x8k_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 December 19, 2024, GlycoMimetics, Inc. (the " Company ") received a notice (the " Extension Notice ") from the Listing Qualifications Department of the Nasdaq Stock Market (" Nasdaq ") informing the Company that Nasdaq granted the Company an additional 180 calendar days, or until June 16, 2025, to regain compliance with the minimum closing bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the " Rule "). In connection with the Extension Notice, the listing of the Company's common stock was transferred from the Nasdaq Global Market to the Nasdaq Capital Market, effective as of December 20, 2024. The Extension Notice has no other immediate effect on the listing of the Company's common stock. If at any time before June 16, 2025, the closing bid price of the Company's common stock is at least $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation that the Company has achieved compliance with the Rule. If compliance with the Rule cannot be demonstrated to Nasdaq's satisfaction by June 16, 2025, Nasdaq will provide written notification that the Company's common stock will be delisted. At that time, the Company may appeal Nasdaq's delisting determination to a Nasdaq Hearings Panel. The Company intends to continue actively monitor the bid price for its common stock between now and June 16, 2025 and will consider available options to resolve the deficiency and regain compliance with the Rule. These options include, but are not limited to, effecting a reverse stock split, if necessary, to attempt to regain compliance. If the Company does not regain compliance within the additional compliance period, Nasdaq will provide notice that the Company's common stock will be subject to delisting. The Company would then be entitled to appeal that determination t
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: December 26, 2024 Brian M. Hahn Senior Vice President and Chief Financial Officer 3