In a recent SEC filing, Greenwich LifeSciences, Inc. (NASDAQ:GLSI) disclosed that its CEO and CFO, Snehal Patel, received 2,000 shares of the company's common stock. The transaction, which took place on January 2, 2025, was completed at a price of $11.97 per share, approximately $23,940. The stock has already shown strong momentum, gaining more than 18% in the past week to trade at $12.88. InvestingPro analysis shows high price volatility, with shares trading between $8 and $21.44 in the past 52 weeks. Following this purchase, Patel owns a total of 5,543,702 shares, representing a significant portion of the market capitalization of $169.3 million. The move reflects Patel's continued investment in the pharmaceutical company, which focuses on developing youth medicines. InvestingPro data reveals the company maintains strong liquidity with a current ratio of 6.91, although subscribers can access 7 additional key information about GLSI's financial health and market status.
In other recent news, Greenwich LifeSciences reported notable results at its Annual Business Meeting. Key developments include the re-election of all five directors-elect, David McWilliams, Snehal S. Patel, Eric Rothe, F. Joseph Daugherty, MD, and Kenneth Hallock, each received 7.8 million votes. A registered public limited company firm, RBSM, LLP, has been certified for the fiscal year ending December 31, 2024.
A significant amendment to the 2019 Equity Incentive Plan has been adopted, increasing the number of shares subject to issuance under the plan from 1,500,000 to 4,000,000. The proposal received more than 8 million votes in favor, indicating strong shareholder support. According to InvestingPro, the company maintains a strong liquidity position, which is indicated by the current ratio of 6.91.
Despite not being profitable yet, Greenwich LifeSciences has been given a promising price target of $38 by analysts, suggesting potential. These recent developments underscore the confidence of shareholders in the company's current leadership and strategic initiatives.
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