Why Greenwich Lifesciences (GLSI) Stock Is Skyrocketing

Greenwich Lifesciences Inc GLSI shares are trading higher by 30.6% to $10.85 Wednesday afternoon after the company provided an update on the Phase III clinical trial, Flamingo-01. The Data Safety Monitoring Board recommended continuing the trial without modifications due to no serious adverse events related to GLSI-100 reported so far.

In the U.S., around 30 clinical sites are actively recruiting patients, with plans to add 10 more sites in 2024. In Europe, pending regulatory approval, contracts are in place to add over 100 sites, potentially increasing total trial sites to 140-160. The trial’s Steering Committee discussed expanding a trial arm based on encouraging data, aiming to enroll up to 250 patients.

Additionally, preparations for interim analysis and BLA submission in the US are underway. Plans for additional trials and new intellectual property filings are also being considered, potentially broadening the patient population and enhancing GP2’s application.

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Is GLSI A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Greenwich LifeSciences‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Greenwich LifeSciences does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

For example, if you're looking to earn an annualized return of 16.7%, you'll need to buy a share of Gabelli Multimedia Trust by the 13th March, 2024. Once done, you can expect to receive a nominal payout of $0.22 on 21st March, 2024.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Greenwich LifeSciences will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

According to data from Benzinga Pro, GLSI has a 52-week high of $17.30 and a 52-week low of $7.58.