Why Is GLSI Stock Rising Today?

• The company highlighted an 80% recurrence rate reduction in the open-label non-HLA-A*02 arm of the Phase III clinical trial. 
• The company noted that the latest observation trended similarly to its Phase IIb trial results and hazard ratio.

Greenwich LifeSciences, Inc.’s (GLSI) shares soared in premarket trading on Monday after the company announced positive results from its phase III clinical trial, FLAMINGO-01, evaluating an immunotherapy to prevent breast cancer recurrences.

Greenwich highlighted about an 80% recurrence rate reduction in the open-label non-HLA-A*02 arm of the Phase III clinical trial.

Shares of GLSI were up over 86% premarket at the time of writing.

Trial Details

The company noted that the latest observation trended similarly to its Phase IIb trial results and hazard ratio, where the patients were treated, and breast cancer recurrences were reduced up to 80% compared to a 20-50% reduction in recurrence rate by other approved products.

“Despite these being preliminary results that will mature and can change with time, seeing a reduction in expected recurrence rates that is trending towards a low HR of 0.2, which represents an 80% reduction in recurrence rate, is very encouraging and which is why along with the similarly promising safety and immune response data to date, we will seek to continue to treat non-HLA-A*02 patients in a placebo controlled manner in the study," said CEO Snehal Patel.

How Did Stocktwits Users React?

On Stocktwits, GLSI was the second-most trending stock on Monday morning. The retail sentiment around GLSI continued to trend in the ‘extremely bullish’ territory compared to ‘bullish’ a month ago, while message volume has remained ‘extremely high’ at the time of writing.

One Stocktwits user said they would be watching the stock all day, indicating their bullish stance on the company.

Shares of GLSI are down over 16% over the last year.

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