Greenwich LifeSciences Provides Update on FLAMINGO-01 Cash Burn Rate and Financing Strategy

Core Viewpoint - Greenwich LifeSciences, Inc. is advancing its Phase III clinical trial, FLAMINGO-01, for GLSI-100, an immunotherapy aimed at preventing breast cancer recurrences, while also updating on its cash burn rate and financing strategy [1][2]. Financial Updates - The Company raised more than its 2025 cash burn rate of approximately $9.5 million through its ATM financing, resulting in a year-end cash balance of approximately $6 million as of December 31, 2025 [2]. - As of January 23, 2026, the cash balance increased to approximately $12.5 million after raising about $7 million in the first three weeks of January 2026 [2]. - The current cash balance may cover the Company's cash needs for all of 2026, considering the projected increase in cash needs over the previous years [3]. Clinical Trial Progress - FLAMINGO-01 has screened over 1,000 patients, with a current screening rate of approximately 600 patients per year [4]. - The non-HLA-A02 arm is fully enrolled, with 250 patients receiving GLSI-100, which represents a significant increase in treated patients compared to the Phase IIb trial [4]. - Preliminary analysis indicates an approximately 80% reduction in recurrence rates after the Primary Immunization Series (PIS) is completed, aligning with Phase IIb trial results [7]. Immunotherapy Details - GLSI-100 is designed to elicit a potent immune response, with the PIS involving six injections over the first six months, followed by five booster injections every six months [4][13]. - The safety profile and immune response trends in non-HLA-A02 patients are similar to those observed in HLA-A*02 patients from the FLAMINGO-01 trial and the Phase IIb study [7]. Future Financing Strategy - The Company plans to continue using the ATM to sustain or grow its cash balance, potentially reducing the need for large financing in the near term [3]. - Continued use of the ATM may facilitate access to non-dilutive funding options, such as strategic partnerships or debt financing, to support FLAMINGO-01 and future commercial activities [3].