Greenwich LifeSciences (GLSI) Q1 2026 earnings summary

Executive summary

• Focused on Phase III clinical trial Flamingo-01 for GLSI-100, an immunotherapy to prevent breast cancer recurrence, with global expansion plans including up to 150 sites in Europe and worldwide.

• No revenue generated to date; operations funded primarily through equity offerings and related party loans.

• Net losses for Q1 2026 were $5.7 million, up from $2.7 million in Q1 2025, driven by increased clinical trial expenses.

Financial highlights

• Cash balance increased to $10.5 million as of March 31, 2026, from $6.2 million at December 31, 2025, due to equity financing.

• Net loss for Q1 2026 was $5,657,137, compared to $2,744,780 in Q1 2025.

• Research and development expenses rose 129% year-over-year to $5.2 million, primarily due to higher clinical trial costs.

• General and administrative expenses increased 4% year-over-year to $518,190.

• Net cash used in operating activities was $4.7 million in Q1 2026, up from $1.8 million in Q1 2025.

Outlook and guidance

• Expects continued significant expenses and operating losses as clinical development and global trial expansion progress.

• Additional capital will be required to meet long-term operating needs; plans to raise funds through further equity or debt offerings.