Abstract: The present invention provides novel polymorphic forms of anhydrous crystalline (3S-trans)-2-[3,4-dihydro-4-hydroxy-3-(phenylmethyl)-2H-1-benzopyran-7-yl]-4-(trifluoromethyl)-benzoic acid, hereinafter compound (I), and a novel salt, and a hydrate of said compound, wherein each novel composition has particular characteristics that contribute to its use in pharmaceutical formulations. The novel monohydrate of compound (I) is described, which can be advantageously isolated from water wet solvents and formulated via wet granulation techniques. The novel ethylene diamine (mono) salt is also described, and demonstrates superior solubility and bioavailability. Additionally, polymorphic forms A and B of anhydrous crystalline compound (I) are described, wherein form A has superior thermal stability, and form B has superior solubility.