GlycoMimetics shares crash after Pfizer team dismisses their lead drug as a PhIII failure

Close to 8 years ago, the BD team at Pfizer signed a $340 million deal to license in a mid-stage drug from GlycoMimetics for a particularly painful complication of sickle cell disease. There was no exact word on the cash involved, but the pharma giant agreed to fund the entire Phase III effort they would need for an approval.