GLYC - GlycoMimetics slips as chief scientific officer departs

• Shares of clinical-stage biotech GlycoMimetics ( NASDAQ: GLYC ) lost ~6% pre-market Wednesday after the company announced the resignation of its co-founder and Chief Scientific Officer, Dr. John Magnani, effective Mar. 31.
• The departure follows an agreement between GlycoMimetics ( GLYC ) and Dr. Magnani on Feb. 21, specifying the terms of his resignation, the company said in a regulatory filing on Tuesday after the close.
• Separately, Dr. Magnani, who also functioned as the company’s Senior Vice President of Research, has agreed to provide GlycoMimetics ( GLYC ) with consulting services through June 30, 2024, at the request of President and Chief Executive Officer Harout Semerjian.
• Last week, the company stock witnessed a rise in options trading activity, market data indicates.
• Citing insider buying and a substantial accumulation pattern in Nov. – Dec. trading, Seeking Alpha contributor Paul Franke said in January that GlycoMimetics ( GLYC ) is on track for a catalyst-rich year in 2023.

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