In a recent Securities and Exchange Commission filing, Greenwich LifeSciences, Inc. disclosed: (NASDAQ:GLSI) announced that its CEO and CFO, Snehal Patel, has acquired 2,000 shares of the company's common stock. The transaction, which occurred on January 2, 2025, was executed at a price of $11.97 per share, for a total consideration of approximately $23,940. The stock has since shown strong momentum, rising more than 18% in the past week to trade at $12.88. InvestingPro The analysis indicates high stock price volatility, with shares trading between $8 and $21.44 over the past 52 weeks. Following this purchase, Patel directly owns a total of 5,543,702 shares, representing a significant portion of the company's market capitalization of $169.3 million. The move reflects Patel's continued investment in the pharmaceutical company, which specializes in developing innovative treatments. InvestingPro The data reveals that the company maintains strong liquidity with a current ratio of 6.91, although subscribers can access 7 additional key insights into GLSI's financial health and market position.
In other recent news, Greenwich LifeSciences announced noteworthy results from its annual stockholders' meeting. Key developments include the re-election of all five director nominees, David McWilliams, Snehal S. Patel, Eric Roth, and F. Joseph Dougherty, MD, and Kenneth Hallock, each receiving more than 7.8 million votes. The company's independent registered public accounting firm, RBSM, LLP, has also been certified for the fiscal year ending December 31, 2024.
A significant amendment to the Company's 2019 Stock Incentive Plan was approved, raising the number of shares allocated for issuance under the Plan from 1,500,000 to 4,000,000. This proposal received more than 8 million votes in favor, demonstrating strong support from shareholders. According to InvestingPro, the company maintains a strong liquidity position, indicated by a current ratio of 6.91.
Despite not currently being profitable, Greenwich LifeSciences has been given a promising price target of $38 by analysts, indicating potential upside. These recent developments confirm shareholders' confidence in the company's current leadership and strategic initiatives.
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