24/7 Market News Snapshot 05 June, 2025 – GlycoMimetics, Inc. (NASDAQ:GLYC)

June 5, 2025

DENVER, Colo., 05 June, 2025 (www.247marketnews.com) – (NASDAQ:GLYC) are discussed in this article.
GlycoMimetics, Inc. has opened trading today at $0.20 and is currently at $0.201, reflecting a notable decline of approximately 4.29%. The trading volume has reached 546.04K, highlighting a mix of investor activity and inherent volatility. Technical analysis indicates resistance above $0.21, with support seen around the psychological level of $0.20. The observed downtrend may suggest investor caution, potentially influenced by broader market conditions or specific developments within the company. Traders are advised to watch for indicators of price recovery or heightened trading volume that might indicate a shift in market sentiment.

In a significant development for its future, GlycoMimetics has announced that its stockholders have overwhelmingly approved a merger with Crescent Biopharma, Inc. The merger is poised to strengthen both companies’ positions in the biotechnology space and accelerate the advancement of innovative therapies, particularly in oncology. Recent stockholder meetings resulted in unanimous support for the merger and ancillary proposals, including a strategic 1-for-100 reverse stock split, intended to enhance shareholder value and streamline the capital structure in anticipation of the merger.

Following the successful completion of the merger, the combined entity will operate under the name “Crescent Biopharma, Inc.” and will trade on The Nasdaq Capital Market with the ticker symbol “CBIO.” This reverse stock split is expected to reduce GlycoMimetics’ common stock from approximately 64.5 million shares to about 0.6 million shares while expanding the authorized common stock from 150 million to 175 million shares, allowing for greater flexibility in future endeavors.

Crescent Biopharma’s specialization in precision-engineered molecules to target solid tumors will greatly complement GlycoMimetics’ ongoing initiatives. Both organizations pledge to leverage their capabilities in pursuit of transformative patient care and groundbreaking therapeutic solutions, marking a promising new chapter in their collaborative journey within the biotech industry.

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