Glycomimetics Inc (GLYC) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Exhibit 99.1

GLYCOMIMETICS REPORTS FOURTH QUARTER AND YEAR-END 2014 RESULTS

Year-End Cash and Cash Equivalents of $55.2 million

GAITHERSBURG, MD, March 16, 2015

GlycoMimetics did not recognize any revenues in the quarter ended December 31, 2014, compared to $77,000 for the quarter ended December 31, 2013. For the year ended December 31, 2014, total revenues were $15.0 million compared to $4.0 million in 2013.

The Company’s research and development expenses increased to $5.3 million for the quarter ended December 31, 2014 as compared to $3.0 million for the fourth quarter of 2013. Research and development expense similarly increased by $7.9 million to $19.6 million for the year ended December 31, 2014, from $11.7 million in the year ended December 31, 2013. These increases were primarily attributable to increases related to manufacturing and process development for the Company’s drug candidate GMI-1271 in preparation for upcoming clinical trials. In addition, the Company recorded a $1.5 million milestone license fee in the year ended December 31, 2014 for the payment due to the University of Basel representing 10 percent of the $15.0 million non-refundable milestone payment received from Pfizer in May 2014.

The Company’s general and administrative expenses increased to $2.1 million for the quarter ended December 31, 2014 as compared to $0.9 million for the fourth quarter of 2013. General and administrative expenses for the year ended December 31, 2014 increased to $6.6 million as compared to $2.9 million in the prior year. These increases were primarily due to costs associated with supporting public company operations.

“Our focus in 2015 will be on our proprietary and wholly owned investigational drug candidate GMI-1271. We expect to evaluate this novel drug candidate in multiple clinical studies, initially in acute myeloid leukemia as well as in a thrombotic study sponsored by the National Heart, Lung, and Blood Institute. This year we also plan to identify a second hematologic malignancy for which we will study the compound as a potential treatment,” said Rachel King, GlycoMimetics’ Chief Executive Officer. “Our plan is to continue to present data for GMI-1271 at key medical meetings, as well as to progress advanced preclinical work on a third clinical program.”