Greenwich LifeSciences Announces Suspension of Share Repurchase Program

Rhea-AI Summary

Greenwich LifeSciences, Inc. (NASDAQ: GLSI) has announced the suspension of its share repurchase program. Previously, the Company repurchased around 520,000 shares for approximately $7.5 million. Following these transactions, GLSI has about 12.8 million shares of common stock outstanding. This decision comes amid considerations that may impact future financial strategies.

Positive

• Successfully repurchased approximately 520,000 shares for $7.5 million, reflecting a commitment to shareholder value.

Negative

• Suspension of the share repurchase program may indicate potential liquidity concerns or a shift in financial strategy.

STAFFORD, Texas--(BUSINESS WIRE)-- Greenwich LifeSciences, Inc. (Nasdaq: GLSI) (the “Company”), a clinical-stage biopharmaceutical company focused on the development of GLSI-100, announced that its Board of Directors has suspended the Company’s previously announced share repurchase program.

Under the now suspended share repurchase program, the Company repurchased approximately 520,000 shares of common stock for an aggregate purchase price of approximately $7.5 million. Following these repurchases, the Company had approximately 12.8 million shares of common stock outstanding.

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Company Contact

Snehal Patel

Investor Relations

Office: (832) 819-3232

Email: 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

Email: dave@redchip.com

Source: Greenwich LifeSciences, Inc.

FAQ

What is the reason behind Greenwich LifeSciences suspending its share repurchase program?

The Company suspended its share repurchase program as part of a strategic review, which may involve liquidity considerations.

How many shares did Greenwich LifeSciences buy back before suspending the program?

Prior to the suspension, Greenwich LifeSciences repurchased approximately 520,000 shares for an aggregate price of about $7.5 million.

What is the current number of outstanding shares for GLSI?

Following the share buybacks, Greenwich LifeSciences now has approximately 12.8 million shares of common stock outstanding.