Glycomimetics Stock Soars 48.24% on Reverse Split

Before the BellFriday, Jun 6, 2025 4:11 am ET

1min read

On June 6, 2025, Glycomimetics' stock surged by 48.24% in pre-market trading, marking a significant rise that has caught the attention of investors and analysts alike.

On June 5, 2025, following a Special Meeting, the Board of Glycomimetics approved a reverse stock split of the company's common stock at a ratio of 1-for-100. This move is part of a broader strategy to enhance the company's financial position and attractiveness to investors.

The reverse stock split is expected to reduce the number of outstanding shares from 64.5 million to 0.6 million, which could potentially increase the stock's price per share and make it more appealing to institutional investors. This strategic decision comes as the company continues to navigate the complexities of the biotechnology sector, aiming to solidify its market position and drive future growth.

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