GlycoMimetics falls on Phase III AML trial design

GlycoMimetics Inc. (NASDAQ:GLYC) lost $4.07 (18%) to $18.75 on Tuesday after the company unveiled late Monday the design of its Phase III trial for acute myelogenous leukemia candidate GMI-1271. The primary endpoint of the trial, which is slated to start in 3Q18, is overall survival (OS).

Investors were hoping the company would pursue a surrogate endpoint for the trial to expedite the development timeline of the candidate. GlycoMimetics said the trial design is aligned with FDA guidance. Top-line data are expected by the end of 2020...