Greenwich LifeSciences (NASDAQ:GLSI) is simply skyrocketing today, up more than 60% on heavy trading volume. It turns out that a big advancement for the cancer-fighting company is behind the move. So what do you need to know about GLSI stock now?
Importantly, Greenwich LifeSciences is not necessarily a household name. However, the Texas-based company is working to prevent recurrences of breast cancer, and things have been looking good. Back in December 2020, shares rallied 2,000% in one day after Greenwich shared promising trial data.
Today, GLSI stock is looking to build on those gains and spend some time in the spotlight.
So what is the news?
Greenwich LifeSciences is focusing on its GP2 immunotherapy. This is a very targeted treatment for patients who have already had breast cancer surgery. The goal is that this immunotherapy will prevent recurrences and help patients return to normal life. In December, Greenwich shared that over five years, its early injections triggered an immune response and lowered recurrence rates to 0%. It also shared that it would be launching Phase 3 trials in 2021.
Today, the company took a big step in that direction. Greenwich appointed Dr. Jaye Thompson, Ph.D., to serve as vice president clinical and regulatory affairs. This means that Dr. Thompson will be overseeing the Phase 3 trials for GP2 on a full-time basis. And importantly for investors, Dr. Thompson brings with her great experience in clinical trials. She has previously served as an advisor for Greenwich, and has played an active role in more than 200 clinical trials. According to company executives, she is the perfect person to get the job done and steer GP2 through the regulatory process.
Why GLSI Stock Is Soaring Today
So what else should investors know about GLSI stock here?
Right now, it is important to keep tabs on Greenwich LifeSciences to see how things evolve. Dr. Thompson has already started to prep for Phase 3 trials, such as through hiring a statistician. Additionally, the company says that she is thinking about regulatory pathways and how to best use their cash on hand.
It is also important to consider the market. Based on numbers from Greenwich, there were 3.1 million breast cancer survivors in 2018. GP2 could be an answer to protecting those survivors and preventing further cancer. Now, it is just up to Dr. Thompson to get those trials in motion.
Keep a close eye on GLSI stock, but do your own research. With so much riding on GP2, the story here is risky.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer with InvestorPlace.com.