Following this transaction, Patel now directly owns 5,547,102 shares of the company. This acquisition reflects Patel's continued investment in Greenwich LifeSciences, a pharmaceutical company based in Stafford, Texas, which currently maintains a market capitalization of $172.33 million. InvestingPro analysis reveals the stock's high volatility with a beta of 3.3, while analysts have set a target price of $38 per share. Discover more valuable insights and 7 additional ProTips with an InvestingPro subscription. Following this transaction, Patel now directly owns 5,547,102 shares of the company. This acquisition reflects Patel's continued investment in Greenwich LifeSciences, a pharmaceutical company based in Stafford, Texas, which currently maintains a market capitalization of $172.33 million. InvestingPro analysis reveals the stock's high volatility with a beta of 3.3, while analysts have set a target price of $38 per share. Discover more valuable insights and 7 additional ProTips with an InvestingPro subscription.
In other recent news, Greenwich LifeSciences reported outcomes from its Annual Meeting of Stockholders. The meeting resulted in the re-election of all five director nominees, indicating strong support for the company's leadership, with over 7.8 million votes for each director. The company's independent registered public accounting firm, RBSM, LLP, was also ratified for the fiscal year ending December 31, 2024, receiving over 9 million votes in favor.
A significant amendment to the company's 2019 Equity Incentive Plan was approved, increasing the number of shares reserved for issuance under the plan to 4 million from the previous 1.5 million shares. This proposal received over 8 million votes in favor.
These recent developments reflect the shareholders' support for Greenwich LifeSciences' strategic initiatives. InvestingPro analysis indicates that while the company is not currently profitable, analysts have set an ambitious price target of $38. The company maintains strong liquidity with a current ratio of 6.91, indicating solid short-term financial stability.
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