Greenwich LifeSciences Announces $2.5 Million Private Placement
Summary
STAFFORD, Texas, June 14, 2024 (GLOBE NEWSWIRE) -- Greenwich LifeSciences, Inc. (Nasdaq: GLSI) (the "Company" or "Greenwich"), a clinical-stage biopharmaceutical company focused on its Phase III clinical trial, FLAMINGO-01, which is evaluating GLSI-100, an immunotherapy to prevent breast cancer recurrences, today announced that it has entered into a securities purchase agreement with its Chief Executive Officer, Snehal Patel, for the purchase and sale of 174,825 shares of its common stock 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, subject to the satisfaction of customary closing conditions.The gross proceeds to the Company from the offering are expected to be approximately $2.5 million, before deducting offering expenses payable by the Company. Greenwich intends to use the net proceeds from the offering for clinical development and working capital. GP2 is a 9 amino acid transmembrane peptide of the HER2 protein, a cell surface receptor protein that is expressed in a variety of common cancers, including expression in 75% of breast cancers at low (1+), intermediate (2+), and high (3+ or over-expressor) levels. Forward-looking statements contained in this announcement are made as of this date, and Greenwich LifeSciences, Inc. undertakes no duty to update such information except as required under applicable law.