In a recent SEC filing, Greenwich LifeSciences, Inc. (NASDAQ:GLSI) disclosed that its CEO and CFO, Snehal Patel, has acquired 2,000 shares of the company's common stock. This transaction, which took place on January 2, 2025, was executed at a price of $11.97 per share, totaling approximately $23,940. The stock has since shown strong momentum, gaining over 18% in the past week to trade at $12.88. InvestingPro analysis indicates high stock price volatility, with shares trading between $8 and $21.44 over the past 52 weeks. Following this purchase, Patel holds a total of 5,543,702 shares directly, representing a significant portion of the company's $169.3 million market capitalization. This move reflects Patel's continued investment in the pharmaceutical company, which specializes in developing innovative therapies. InvestingPro data reveals the company maintains strong liquidity with a current ratio of 6.91, though subscribers can access 7 additional key insights about GLSI's financial health and market position.
In other recent news, Greenwich LifeSciences reported noteworthy outcomes from its Annual Meeting of Stockholders. Key developments include the re-election of all five director nominees, David McWilliams, Snehal S. Patel, Eric Rothe, F. Joseph Daugherty, M.D., and Kenneth Hallock, with each receiving over 7.8 million votes. The company's independent registered public accounting firm, RBSM, LLP, was also ratified for the fiscal year ending December 31, 2024.
An important amendment to the company's 2019 Equity Incentive Plan was approved, raising the number of shares reserved for issuance under the plan from 1,500,000 to 4,000,000. This proposal received over 8 million votes in favor, demonstrating strong shareholder support. 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, suggesting a potential upside. These recent developments underscore the shareholders' confidence in the company's current leadership and strategic initiatives.
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