Here's Why Greenwich Lifesciences Shares Are Popping Off Today

Greenwich Lifesciences Inc GLSI shares are trading higher by 32.95% to $11.46 Tuesday afternoon after the FDA removed the clinical hold on the company's Flamingo-01 Phase 3 trial of GP2.

Greenwich Lifesciences says through discussions with the FDA and testing of GP2 in the pharmacy process has satisfactorily addressed the clinical hold issues. Greenwich Lifesciences added that the company has committed to additional testing of GP2 in the pharmacy process.

Greenwich Lifesciences says on July 11, the FDA formally removed the clinical hold and thus the Flamingo-01 Phase III clinical trial may proceed as planned. The company has begun site initiation visits and will provide further updates on the progress of Flamingo-01 in the future.

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Greenwich LifeSciences is a biopharmaceutical company that is developing GP2, an immunotherapy designed to prevent the recurrence of breast cancer following surgery.

According to data from Benzinga Pro, Greenwich Lifesciences has a 52-week high of $48.50 and a 52-week low of $6.82.