$GLYC
GLYCOMIMETICS INC

2024 Q2 Form 10-Q Financial Statement

#000155837024007632 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $6.286M $6.025M
YoY Change 54.34% 11.2%
% of Gross Profit
Depreciation & Amortization $12.42K $14.62K
YoY Change -71.4% -66.65%
% of Gross Profit
Operating Expenses $10.36M $11.12M
YoY Change 15.99% 1.59%
Operating Profit -$10.36M -$11.12M
YoY Change 15.99% 1.59%
Interest Expense $262.3K $378.4K
YoY Change -60.91% -34.95%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$10.10M -$10.74M
YoY Change 22.24% 3.64%
Net Earnings / Revenue
Basic Earnings Per Share -$0.16 -$0.17
Diluted Earnings Per Share -$0.16 -$0.17
COMMON SHARES
Basic Shares Outstanding 64.46M 64.45M
Diluted Shares Outstanding 64.48M 64.46M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.39M $31.28M
YoY Change -61.43% -51.88%
Cash & Equivalents $22.40M $31.30M
Short-Term Investments
Other Short-Term Assets $1.395M $1.876M
YoY Change -34.1% -34.18%
Inventory
Prepaid Expenses $805.6K $1.016M
Receivables
Other Receivables $76.71K $109.9K
Total Short-Term Assets $23.86M $33.27M
YoY Change -60.48% -51.14%
LONG-TERM ASSETS
Property, Plant & Equipment $424.2K $598.3K
YoY Change -68.59% 198.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $137.1K $339.3K
YoY Change 34.0% 231.57%
Total Long-Term Assets $561.3K $937.5K
YoY Change -61.36% 12.26%
TOTAL ASSETS
Total Short-Term Assets $23.86M $33.27M
Total Long-Term Assets $561.3K $937.5K
Total Assets $24.42M $34.20M
YoY Change -60.5% -50.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $950.8K $755.5K
YoY Change 293.71% 57.35%
Accrued Expenses $2.957M $3.908M
YoY Change -53.29% -30.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.356M $5.294M
YoY Change -33.71% -21.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.356M $5.294M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $4.356M $5.294M
YoY Change -37.95% -21.45%
SHAREHOLDERS EQUITY
Retained Earnings -$477.3M -$467.2M
YoY Change 8.93% 8.68%
Common Stock $64.48K $64.45K
YoY Change 0.27% 0.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $20.06M $28.91M
YoY Change
Total Liabilities & Shareholders Equity $24.42M $34.20M
YoY Change -60.5% -50.37%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$10.10M -$10.74M
YoY Change 22.24% 3.64%
Depreciation, Depletion And Amortization $12.42K $14.62K
YoY Change -71.4% -66.65%
Cash From Operating Activities -$8.893M -$10.51M
YoY Change 27.51% -9.46%
INVESTING ACTIVITIES
Capital Expenditures $2.530K $7.439K
YoY Change -75.97% 238.6%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.530K -$7.439K
YoY Change -75.97% 238.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 500.0 4.898K
YoY Change -97.51% -99.98%
NET CHANGE
Cash From Operating Activities -8.893M -10.51M
Cash From Investing Activities -2.530K -7.439K
Cash From Financing Activities 500.0 4.898K
Net Change In Cash -8.895M -10.51M
YoY Change 27.71% -161.36%
FREE CASH FLOW
Cash From Operating Activities -$8.893M -$10.51M
Capital Expenditures $2.530K $7.439K
Free Cash Flow -$8.896M -$10.52M
YoY Change 27.35% -9.41%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">GLYCOMIMETICS, INC.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Notes to Unaudited Financial Statement</b><b style="font-weight:bold;">s</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">1. Description of the Business</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:24.5pt;margin:0pt 0pt 6pt 0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:24.5pt;margin:0pt 0pt 6pt 0pt;">GlycoMimetics, Inc. (the Company), a Delaware corporation headquartered in Rockville, Maryland, was incorporated in 2003. The Company is a late clinical-stage biotechnology company focused on improving the lives of people living with cancer and inflammatory diseases by leveraging the inhibition of carbohydrate interactions that occur on the surface of cells. The Company is developing a pipeline of proprietary glycomimetics, which are small molecules that mimic the structure of carbohydrates involved in important biological processes, to inhibit disease-related functions of carbohydrates such as the roles they play in cancers and inflammation.</p>
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Concentration of Credit Risk </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:27pt;margin:0pt;">Credit risk represents the risk that the Company would incur a loss if counterparties failed to perform pursuant to the terms of their agreements. Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains its cash balances with financial institutions in federally insured accounts and has cash balances in excess of the insurance limits. Cash equivalents consist of investment in United States government money market funds with major financial institutions. These deposits and funds may be redeemed upon demand and the Company does not anticipate any losses on such balances. The Company has not experienced any losses to date and believes that it is not exposed to any significant credit risk on cash and cash equivalents. </p>
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859909
CY2023Q4 us-gaap Other Prepaid Expense Current
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401442
CY2024Q1 us-gaap Other Receivables Net Current
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109946
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175820
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
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1985933
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1997904
CY2024Q1 glyc Accrued Research And Development Expense Current
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1872752
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1824689
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2561913
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399763
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10832
CY2024Q1 us-gaap Accrued Liabilities Current
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3907840
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CY2016Q2 us-gaap Security Deposit
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CY2024Q1 us-gaap Variable Lease Cost
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99887
CY2024Q1 us-gaap Lease Cost
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CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
196314
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
592869
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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67401
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
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660270
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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29443
CY2024Q1 us-gaap Operating Lease Liability
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630827
CY2024Q1 us-gaap Lessee Operating Lease Remaining Lease Term
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CY2023Q4 us-gaap Lessee Operating Lease Remaining Lease Term
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CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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305219
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
181032
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y3M
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7956
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0389
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0352
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
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1192080
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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870180
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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false

Files In Submission

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0001558370-24-007632-index-headers.html Edgar Link pending
0001558370-24-007632-index.html Edgar Link pending
0001558370-24-007632.txt Edgar Link pending
0001558370-24-007632-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
glyc-20240331.xsd Edgar Link pending
glyc-20240331x10q.htm Edgar Link pending
glyc-20240331xex31d1.htm Edgar Link pending
glyc-20240331xex31d2.htm Edgar Link pending
glyc-20240331xex32d1.htm Edgar Link pending
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glyc-20240331_cal.xml Edgar Link unprocessable
glyc-20240331_def.xml Edgar Link unprocessable
glyc-20240331_lab.xml Edgar Link unprocessable
glyc-20240331_pre.xml Edgar Link unprocessable
glyc-20240331x10q_htm.xml Edgar Link completed
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report.css Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable