Greenwich LifeSciences, Inc.
For the period ended Jun 30, 2026. Filed Aug 11, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 11, 2026
GLSI$15.17+3.5%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-06-04.
0001493152-26-027150
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-11.
0001493152-26-037147
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 44 previous paragraphs and 48 current paragraphs.
33 unchanged; 7 reworded; 7 added; 4 removed; 0 previous and 1 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (7)
Current report
General and administrative expenses increased by $110,093, or 31%, to $462,931 for the three months ended June 30, 2026 from $352,838 for the three months ended June 30, 2025. The increase was primarily the result of an options grant to employees, management, and the board of directors.
Current report
Research and Development Expenses
Current report
Research and development expenses increased by $3,078,653, or 54%, to $8,766,278 for the six months ended June 30, 2026 from $5,687,625 for the six months ended June 30, 2025. The increase was primarily the result of an options grant to employees, management, and the board of directors and an increase in clinical expenses.
Current report
General and Administrative Expenses
Current report
General and administrative expenses increased by $130,681, or 15%, to $981,121 for the six months ended June 30, 2026 from $850,440 for the six months ended June 30, 2025. The increase was primarily the result of an options grant to employees, management, and the board of directors.
Current report
Between January 1, 2026 and June 30, 2026, the Company completed At The Market (“ATM”) offerings pursuant to its ATM agreement with H. C. Wainwright, in which it issued and sold a total of 379,762 shares of its common stock at an average offering price of $25.36 per share for gross proceeds of $9,629,468 and net proceeds of $9,340,576, after deducting underwriting discounts and commissions and offering expenses borne by the Company, which totalled $288,892.
Current report
Between January 1, 2025 and June 30, 2025, the Company completed At The Market (“ATM”) offerings pursuant to its ATM agreement with H. C. Wainwright, in which it issued and sold a total of 320,210 shares of its common stock at an average offering price of $9.95 per share for gross proceeds of $3,185,661 and net proceeds of $3,100,668, after deducting underwriting discounts and commissions and offering expenses borne by the Company, which totaled $84,993.
Removed paragraphs (4)
Previous report
General and administrative expenses increased by $20,588, or 4%, to $518,190 for the three months ended March 31, 2026 from $497,602 for the three months ended March 31, 2025.
Previous report
Between January 1, 2026 and March 31, 2026, the Company completed At The Market (“ATM”) offerings pursuant to its ATM agreement with H. C. Wainwright, in which it issued and sold a total of 367,547 shares of its common stock at an average offering price of $25.33 per share for gross proceeds of $9,309,189 and net proceeds of $9,029,912, after deducting underwriting discounts and commissions and offering expenses borne by the Company, which totalled $279,277.
Previous report
Between January 1, 2025 and March 31, 2025, the Company completed At The Market (“ATM”) offerings pursuant to its ATM agreement with H. C. Wainwright, in which it issued and sold a total of 39,918 shares of its common stock at an average offering price of $12.52 per share for gross proceeds of $499,936 and net proceeds of $492,423, after deducting underwriting discounts and commissions and offering expenses borne by the Company, which totalled $7,513.
Previous report
Between April 1, 2026 and April 15, 2026, the Company completed At The Market (“ATM”) offerings pursuant to its ATM agreement with H. C. Wainwright, in which it issued and sold a total of 12,215 shares of its common stock at an average offering price of $26.22 per share for gross proceeds of $320,279 and net proceeds of $310,664, after deducting underwriting discounts and commissions and offering expenses borne by the Company, which totalled $9,615.
Reworded paragraphs (7)
Previous wording
To date, we have not generated any revenue and we have incurred net losses. Our net losses were approximately $19.4 million and $17.4 million for the years ended December 31, 2025 and 2024, respectively and $5.7 million and $2.7 million for the three months ended March 31, 2026 and 2025, respectively.
Current wording
To date, we have not generated any revenue and we have incurred net losses. Our net losses were approximately $19.4 million and $17.4 million for the years ended December 31, 2025 and 2024, respectively and $9.6 million and $6.5 million for the six months ended June 30, 2026 and 2025, respectively.
Previous wording
Research and development expenses increased by $2,936,416, or 129%, to $5,207,564 for the three months ended March 31, 2026 from $2,271,148 for the three months ended March 31, 2025. The increase was primarily the result of an increase in accounts payable for clinical trial expenses.
Current wording
Research and development expenses increased by $142,237 or 4%, to $3,558,714 for the three months ended June 30, 2026 from $3,416,477 for the three months ended June 30, 2025. The increase was primarily the result of an increase in clinical expenses.
Previous wording
We will require additional capital to meet our long-term operating requirements. We expect to raise additional capital through the sale of equity and/or debt securities; however, there is no assurance that we will be successful at raising additional capital in the future. If our plans are not achieved and/or if significant unanticipated events occur, we may have to further modify our business plan, which may require us to raise additional capital. As of March 31, 2026 and December 31, 2025, our principal source of liquidity was our cash, which totalled $10,505,435 and $6,178,021, respectively, and additional loans and accrued unreimbursed expenses from related parties. Historically, our principal sources of cash have included proceeds from the sale of common stock and preferred stock and related party loans. Our principal uses of cash have included cash used in operations. We expect that the principal uses of cash in the future will be for continuing operations, funding of research and development, including our clinical trials, and general working capital requirements.
Current wording
We will require additional capital to meet our long-term operating requirements. We expect to raise additional capital through the sale of equity and/or debt securities; however, there is no assurance that we will be successful at raising additional capital in the future. If our plans are not achieved and/or if significant unanticipated events occur, we may have to further modify our business plan, which may require us to raise additional capital. As of June 30, 2026 and December 31, 2025, our principal source of liquidity was our cash, which totaled $8,876,353 and $6,178,021, respectively, and additional loans and accrued unreimbursed expenses from related parties. Historically, our principal sources of cash have included proceeds from the sale of common stock and preferred stock and related party loans. Our principal uses of cash have included cash used in operations. We expect that the principal uses of cash in the future will be for continuing operations, funding of research and development, including our clinical trials, and general working capital requirements.
Previous wording
Cash Flow Activities for the Three Months Ended March 31, 2026 and 2025
Current wording
Cash Flow Activities for the Six Months Ended June 30, 2026 and 2025
Previous wording
We incurred net losses of $5,657,137 and $2,744,780 during the three month periods ended March 31, 2026 and 2025, respectively. The increase was primarily the result of an increasein accounts payable for clinical trial expenses.
Current wording
We incurred net losses of $9,605,812 and $6,493,420 during the six month periods ended June 30, 2026 and 2025, respectively. The increase was primarily the result of an options grant to employees, management, and the board of directors and an increase in clinical expenses.
Previous wording
Net cash used in operating activities was $4,702,498 for the three months ended March 31, 2026 and $1,834,454 for the three months ended March 31, 2025. The increase was primarily the result of an increase in clinical trial expenses.
Current wording
Net cash used in operating activities was $6,642,244 for the six months ended June 30, 2026 and $4,067,557 for the six months ended June 30, 2025.
Previous wording
We did not use or generate cash from investing activities during the three months ended March 31, 2026 and 2025.
Current wording
We did not use or generate cash from investing activities during the six months ended June 30, 2026 and 2025.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
Results of Operations for the Six Months Ended June 30, 2026 and 2025