Greenwich LifeSciences(US:GLSI)2025-08-14 20:30Financial Performance - The company reported net losses of approximately $15.8 million and $8.9 million for the years ended December 31, 2024 and 2023, respectively, and $7.3 million and $5.1 million for the six months ended June 30, 2025 and 2024, respectively [52]. - The company incurred net losses of $7,283,640 and $5,079,877 during the six-month periods ended June 30, 2025 and 2024, respectively [60]. - The company has not yet generated any revenue and expects to continue incurring significant expenses as it develops its pipeline [53]. Expenses - Research and development expenses increased by $1,200,033 or 52%, to $3,507,906 for the three months ended June 30, 2025, compared to $2,307,873 for the same period in 2024 [54]. - General and administrative expenses rose by $184,516, or 52%, to $538,047 for the three months ended June 30, 2025, from $353,531 for the same period in 2024 [55]. - Research and development expenses increased by $1,606,642, or 36%, to $6,109,028 for the six months ended June 30, 2025, compared to $4,502,386 for the same period in 2024 [56]. - General and administrative expenses increased by $523,038, or 75%, to $1,219,257 for the six months ended June 30, 2025, from $696,219 for the same period in 2024 [57]. Cash Position - As of June 30, 2025, the company's cash totaled $3,125,101, down from $4,091,990 as of December 31, 2024 [59]. Capital Raising - The company completed At The Market ("ATM") offerings, issuing 320,210 shares at an average price of $9.95 per share for gross proceeds of $3,185,661 between January 1, 2025, and June 30, 2025 [64]. Clinical Development - The company plans to expand its Phase III clinical trial, Flamingo-01, into Europe with plans to open up to 150 sites globally [51].