Greenwich LifeSciences, Inc. Announces Closing of Public Offering of Common Stock
December 22 2020 - 9:12AM
Business Wire
Greenwich LifeSciences, Inc. (Nasdaq: GLSI) (the “Company”), a
clinical-stage biopharmaceutical company focused on the development
of GP2, an immunotherapy to prevent breast cancer recurrences in
patients who have previously undergone surgery, today announced the
closing of its previously announced underwritten public offering of
common stock, resulting in gross proceeds to the Company of $26.4
million.. The Company intends to use the net proceeds for
completion of all manufacturing and all clinical trial activities
to complete an interim analysis and data readout of the GP2 Phase
III clinical trial, for the submission of a Biologics Licensing
Application to the FDA seeking conditional marketing approval of
GP2, for the in-licensing or acquisition and development of
additional products, including the coronavirus vaccine program, and
for working capital and general corporate purposes.
The Company has also granted the underwriters a 45-day option to
purchase up to an additional 99,000 shares of common stock offered
in the public offering to cover over-allotments, if any, at the
public offering price, which would increase the total gross
proceeds of the offering to approximately $30.4 million, if
exercised in full.
Aegis Capital Corp. acted as sole bookrunner for the
offering.
This offering was made pursuant to a registration statement on
Form S-1 (File No. 333-251366) previously filed with the U.S.
Securities and Exchange Commission (the “SEC”) and subsequently
declared effective on December 17, 2020 and a registration
statement on Form S-1 (File No. 333-251438) previously filed with
the SEC and immediately declared effective on December 17, 2020. A
final prospectus related to the offering was filed and is available
on the SEC's website. Electronic copies of the final prospectus may
be obtained by contacting Aegis Capital Corp., Attention: Syndicate
Department, 810 7th Avenue, 18th Floor, New York, NY 10019, by
email at syndicate@aegiscap.com, or by telephone at (212)
813-1010.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy these securities, nor shall there
be any sale of, these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Greenwich LifeSciences, Inc.
Greenwich LifeSciences is a clinical-stage biopharmaceutical
company focused on the development of GP2, an immunotherapy to
prevent breast cancer recurrences in patients who have previously
undergone surgery. GP2 is a 9 amino acid transmembrane peptide of
the HER2/neu protein. In a randomized, single-blinded,
placebo-controlled, multi-center (16 sites led by MD Anderson
Cancer Center) Phase IIb clinical trial, no recurrences were
observed in the HER2/neu 3+ adjuvant setting after median 5 years
of follow-up, if the patient received the 6 primary intradermal
injections over the first 6 months (p = 0.0338). Of the 138
patients that have been treated with GP2 to date over 4 clinical
trials, GP2 treatment was well tolerated and no serious adverse
events were observed related to GP2 immunotherapy. Greenwich
LifeSciences is planning to commence a Phase III clinical trial
using a similar treatment regime as the Phase IIb clinical trial.
For more information on Greenwich LifeSciences, please visit the
Company’s website: www.greenwichlifesciences.com.
Forward-Looking Statement Disclaimer
Statements in this press release contain “forward-looking
statements” that are subject to substantial risks and
uncertainties. All statements, other than statements of historical
fact, contained in this press release are forward-looking
statements. Forward-looking statements contained in this press
release may be identified by the use of words such as “anticipate,”
“believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,”
“seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,”
“target,” “aim,” “should,” "will” “would,” or the negative of these
words or other similar expressions, although not all
forward-looking statements contain these words. Forward-looking
statements are based on Greenwich LifeSciences Inc.’s current
expectations and are subject to inherent uncertainties, risks and
assumptions that are difficult to predict, including statements
regarding the intended use of net proceeds from the public
offering; consequently, actual results may differ materially from
those expressed or implied by such forward-looking statements.
Further, certain forward-looking statements are based on
assumptions as to future events that may not prove to be accurate.
These and other risks and uncertainties are described more fully in
the section titled “Risk Factors” in the final prospectus related
to the public offering filed with the SEC. Forward-looking
statements contained in this announcement are made as of this date,
and Greenwich LifeSciences, Inc. undertakes no duty to update such
information except as required under applicable law.
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Company Contact Snehal Patel Investor Relations (832)
819-3232 info@greenwichlifesciences.com
Investor & Public Relations Contact for Greenwich
LifeSciences Dave Gentry RedChip Companies Inc. Office:
1-800-RED CHIP (733 2447) Cell: (407) 491-4498 dave@redchip.com
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