Business
Greenwich LifeSciences Provides Update on FLAMINGO-01 Cash Burn Rate and Financing Strategy
STAFFORD, Texas, Jan. 27, 2026 (GLOBE NEWSWIRE) -- Greenwich LifeSciences, Inc. (Nasdaq: GLSI) (the "Company"), a clinical-stage biopharmaceutical company focused on its Phase III clinical trial, FLAMINGO-01, which is evaluating Fast Track designated GLSI-100, an immunotherapy to prevent breast cancer recurrences, today provided additional updates on its cash burn rate and financing strategy. The Company's ATM financing vehicle allows the Company to sell its common stock directly into the tradin
About this update from Greenwich Lifesciences, Inc.
[{"type":"image","alt":"Greenwich LifeSciences, Inc.","displaySize":"","headline":null,"caption":"Greenwich LifeSciences, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":123,"url":"https://media.zenfs.com/en/globenewswire.com/5236cbdf62d9160f7f17a269e6a93fa7"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/CdB3UijgWjtUF2S9KALplg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE3MjtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/5236cbdf62d9160f7f17a269e6a93fa7","width":300,"height":123}},"lazy":false},{"type":"text","content":"STAFFORD, Texas, Jan. 27, 2026 (GLOBE NEWSWIRE) -- Greenwich LifeSciences, Inc. (Nasdaq: GLSI) (the "Company"), a clinical-stage biopharmaceutical company focused on its Phase III clinical trial, FLAMINGO-01, which is evaluating Fast Track designated GLSI-100, an immunotherapy to prevent breast cancer recurrences, today provided additional updates on its cash burn rate and financing strategy.","length":405,"tagName":"p"},{"type":"text","content":"The Company's ATM financing vehicle allows the Company to sell its common stock directly into the trading market at market price. The amount raised through our ATM for 2025 exceeded the Company's 2025 cash burn rate of approximately $9.5 million, leading to a year end cash balance of approximately $6 million as of December 31, 2025. Furthermore, the Company more than doubled its cash balance as of the close of business on January 23, 2026, to approximately $12.5 million, having raised approximately $7 million in the first three weeks of January 2026 through the ATM. The above preliminary financial figures are unaudited and are subject to change following completion of the Company's financial audit for 2025.","length":728,"tagName":"p"},{"type":"text","content":"CEO Snehal Patel commented, "Our financing strategy in January 2026 has been quite impressive so far without daily or constant use of the ATM. The current cash balance of $12.5 million could exceed the Company's cash needs for all of 2026, given the $9.5 million annual burn rate in 2025 and the modest increase in cash needs over the $7 million annual burn rates in 2024 and 2023. We believe the Company's lean structure and ongoing cost saving initiatives have been instrumental in this strategy, including the increasing number of patients entering the less exp...