Underwriters have snapped up another 1 million shares of GlycoMimetics Inc. stock, the Gaithersburg biotech announced this week, marking the close of its $64.4 million initial public offering.
GLYC debuted on the Nasdaq last week in the Washington region's first IPO of 2014, selling a total 8 million shares at $8 apiece. Net proceeds to the company will be around $57.4 million, much of which will pay expenses to advance one of its oncology drug candidates through the clinic.