Preliminary Phase III Data Shows 70-80% Recurrence Reduction for Greenwich LifeSciences' GP2
GLSI has more than doubled off its 52-week low of $7.78.
Summary
Greenwich LifeSciences secured European approval to use commercially manufactured GP2 in its Phase III FLAMINGO-01 trial. More significantly, preliminary open-label data from the trial's non-HLA-A*02 arm indicates an approximately 70-80% reduction in breast cancer recurrence rates. This positive clinical development provides a counterpoint to the company's recent financial struggles, which included a going concern warning and increased Q1 losses. The manufacturing approval is a key step towards commercial readiness, while the early efficacy signal is highly material for the company's lead asset.
At the time of this announcement, GLSI was trading at $18.35 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $277M. The 52-week trading range was $7.78 to $34.10. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.