Greenwich LifeSciences Reports Increased Net Losses and Operating Expenses in Q2 2025

Greenwich LifeSciences, Inc. reported its financial results for the second quarter and first half of 2025, revealing a continued trend of net losses and increased operating expenses. For the three months ended June 30, 2025, the company recorded no revenue, consistent with the same period in 2024. Operating expenses rose to $4.05 million, up from $2.66 million year-over-year, primarily driven by a 52% increase in research and development expenses, which totaled $3.51 million, and a 52% rise in general and administrative expenses, reaching $538,047. The net loss for the quarter was $4.03 million, compared to a loss of $2.61 million in the prior year.

In the first half of 2025, Greenwich LifeSciences reported a net loss of $7.28 million, an increase from $5.08 million in the same period of 2024. The increase in losses was attributed to higher clinical expenses and stock-based compensation related to options granted to employees and management. Total operating expenses for the six months ended June 30, 2025, amounted to $7.33 million, compared to $5.20 million in the previous year. The company’s accumulated deficit as of June 30, 2025, stood at $73.44 million, up from $66.15 million at the end of 2024.

On the balance sheet, Greenwich LifeSciences reported total assets of $3.13 million as of June 30, 2025, a decrease from $4.09 million at the end of 2024. The decline in cash reserves, which fell to $3.13 million from $4.09 million, reflects the company's ongoing investment in its clinical development programs. Current liabilities increased to $1.69 million, up from $1.56 million, primarily due to higher accounts payable and accrued interest. The company’s stockholders’ equity decreased to $1.44 million from $2.53 million, indicating a challenging financial position.

Strategically, Greenwich LifeSciences is focused on advancing its Phase III clinical trial, Flamingo-01, which evaluates GLSI-100, an immunotherapy aimed at preventing breast cancer recurrence. The company is expanding its clinical trial sites globally, with plans to open up to 150 sites in Europe. Despite the financial challenges, the company continues to seek additional capital to support its operations and clinical trials, emphasizing the need for ongoing funding to sustain its business model.

Looking ahead, Greenwich LifeSciences anticipates continued net losses as it invests in research and development and prepares for potential commercialization of its product candidate. The company plans to raise additional capital through equity and/or debt securities, although it acknowledges the uncertainty surrounding its ability to secure such funding. The management remains committed to its clinical development goals while navigating the financial landscape marked by significant operational expenses and the need for strategic capital management.