Greenwich LifeSciences(US:GLSI)2025-11-14 21:30Financial 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 $11.4 million and $7.7 million for the nine months ended September 30, 2025 and 2024, respectively [51]. - The company incurred net losses of $11,435,485 and $7,748,590 during the nine-month periods ended September 30, 2025 and 2024, respectively [59]. Expenses - Research and development expenses increased by $1,229,536 or 54%, to $3,521,576 for the three months ended September 30, 2025, compared to $2,292,040 for the same period in 2024 [53]. - General and administrative expenses rose by $216,055, or 49%, to $653,066 for the three months ended September 30, 2025, from $437,011 for the same period in 2024 [54]. - For the nine months ended September 30, 2025, research and development expenses increased by $2,836,178, or 42%, to $9,630,604 from $6,794,426 for the same period in 2024 [55]. - General and administrative expenses for the nine months ended September 30, 2025, increased by $739,093, or 65%, to $1,872,323 from $1,133,230 for the same period in 2024 [56]. Cash Position - As of September 30, 2025, the company's cash totaled $3,806,978, down from $4,091,990 as of December 31, 2024 [58]. - Net cash used in operating activities was $6,738,796 for the nine months ended September 30, 2025, compared to $5,414,337 for the same period in 2024 [60]. Capital Raising - The company completed At The Market ("ATM") offerings resulting in gross proceeds of $6,492,994 from the issuance of 621,674 shares at an average price of $10.44 per share between January 1, 2025, and September 30, 2025 [64]. Clinical Trials - The company plans to expand its Phase III clinical trial, Flamingo-01, into Europe with plans to open up to 150 sites globally [50].