Greenwich LifeSciences raises $2.5M, issues shares to CEO

Clinical-stage biopharmaceutical company Greenwich LifeSciences ( NASDAQ: GLSI ) entered into a securities purchase agreement with its CEO, Snehal Patel, for the purchase and sale of 174,825 shares at a purchase price of $14.30 per share in a private placement. The closing of the private placement is expected to occur on or about June 18, 2024.

Gross proceeds are expected to be ~$2.5M. Net proceeds will serve clinical development and working capital.

Mr. Patel has agreed to a one-year lock up agreement with respect to his shares acquired in the offering. The company focuses on its Phase III clinical trial, FLAMINGO-01, which is evaluating GLSI-100, an immunotherapy to prevent breast cancer recurrences More on Greenwich Lifesciences Seeking Alpha’s Quant Rating on Greenwich Lifesciences Historical earnings data for Greenwich Lifesciences Financial information for Greenwich Lifesciences.