Greenwich LifeSciences (GLSI) Registration filing summary

Company overview and business model

• Clinical-stage biopharmaceutical company focused on immunotherapy for breast cancer recurrence prevention, with lead candidate GLSI-100 in Phase III trials targeting HER2/neu positive patients.

• GLSI-100 combines GP2 peptide and GM-CSF, aiming to elicit targeted immune responses against HER2/neu-expressing cancers.

• Ongoing global Phase III trial (Flamingo-01) with plans to expand to up to 150 sites, including Europe.

• Holds exclusive worldwide rights to GP2 technology through a license from the Henry M. Jackson Foundation, with milestone and royalty obligations.

• Incorporated in Delaware, principal offices in Texas, and listed on Nasdaq under the symbol GLSI.

Financial performance and metrics

• As of September 30, 2024, 13,144,653 shares of common stock were outstanding.

• Net tangible book value as of June 30, 2024 was $0.45 per share; after a $100 million offering at $13.74 per share, adjusted net tangible book value would be $5.03 per share, with dilution to new investors of $8.71 per share.

• Immediate dilution to new investors is expected due to lower historical share prices and outstanding options/warrants.

Use of proceeds and capital allocation

• Net proceeds intended for general corporate purposes, including clinical development and manufacturing for GP2, R&D, administrative expenses, license or technology acquisitions, and working capital.

• Management retains broad discretion over allocation; no specific commitments to acquisitions as of the filing date.

• Pending use, proceeds will be invested in short- and intermediate-term, investment-grade instruments.