GLSI Stock Climbs After Removing A Key Overhang – Retail Turns Focus To High-Stakes Breast Cancer Trial

• The company said the accounting adjustments are not material and do not affect its cash position or business fundamentals.
• As of March 31, 2026, Greenwich reported an unaudited cash balance of approximately $10.5 million.
• The biotech firm is currently conducting the Flamingo-01 trial for GLSI-100 to treat breast cancer, with more than 1,300 patients screened to date.

Greenwich LifeSciences (GLSI) drew investor attention on Monday as the biotech company eased concerns over its Nasdaq listing status by providing an update on its delayed Form 10-K filing, offering fresh confidence that the long-awaited report is nearing completion.

At the time of writing, GLSI stock was up more than 7% in pre-market trading.

Form 10-K Filing Delayed Due To Auditors

The company said its 2025 annual report is still under review by its new auditor and is in the final stages of approval. Greenwich attributed the delay to coordination requirements between its current and former auditors, as well as adjustments to accounts payable linked to increased patient screening and enrollment in Europe for its global Phase III study.

The company said the accounting adjustments are not material and do not affect its cash position or business fundamentals. As of March 31, 2026, Greenwich reported an unaudited cash balance of approximately $10.5 million.

Nasdaq Compliance Timeline: What Investors Need To Know

April 22, 2026: The firm received a notice from Nasdaq’s Listing Qualifications Department after failing to file its annual Form 10-K for fiscal 2025 by the required deadline.

April 30, 2026: The company said its Form 10-K remained under audit as its current and former auditors worked to reach an agreement on the final figures. Greenwich noted that the review involved accounts payable adjustments tied to its ongoing Flamingo Phase III clinical trial and stronger-than-expected patient screening and enrollment across Europe in 2024 and 2025.

May 22, 2026: Greenwich received an additional notice from Nasdaq related to the continued delay in filing its Form 10-K.

Greenwich LifeSciences is currently conducting the Flamingo-01 trial for GLSI-100 to treat breast cancer, with more than 1,300 patients screened to date.

Preliminary data have shown an estimated 70% to 80% reduction in breast cancer recurrence rates after the initial six-dose treatment series. The company also reported a significant increase in immune responses among treated patients.

GLSI Traders Shifts Focus To Breast Cancer Trial

Retail sentiment on Stocktwits remained in the ‘bullish’ over the past 24 hours, amid ‘extremely high’ message volumes. GLSI was also among the top trending tickers on the platform at the time of writing.

One user simply said, “Let’s focus on the trial and science again now.”

Another user called the news a “great update” and the stock should reclaim the $29 - $30 levels today.

The stock has gained nearly 24% so far this year.

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