12:45 PM EDT, 05/06/2024 (MT Newswires) -- GlycoMimetics ( GLYC ) shares were down 79% in recent Monday trading after the company said a late-stage study of uproleselan in combination with chemotherapy failed to meet its main goal in blood cancer.

The phase 3 trial of uproleselan plus chemotherapy did not achieve a statistically significant improvement in overall survival of patients with relapsed/refractory acute myeloid leukemia when compared to chemotherapy alone, the company said.

The company added that, based on preliminary estimates, it had $31.3 million in cash and cash equivalents as of March 31, down from $41.8 million at the end of December.

Price: 0.38, Change: -1.45, Percent Change: -79.02