--- title: "Greenwich LifeSciences files NT 10-K, expects late annual report by April 15" url: "https://aibio.space/news/greenwich-lifesciences-files-nt-10-k-expects-late-annual-report-april/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-03-31" section: "Distress" tickers: "NASDAQ:GLSI" source: "https://www.sec.gov/Archives/edgar/data/1799788/000164117225001738/formnt10-k.htm" summary: "The company says it cannot file its 2024 annual report on time and expects to use the 15-day extension. Research and development expenses rose to $12,952,0" --- By the aibio.space news desk. Sources - [Greenwich LifeSciences, Inc. Form NT 10-K filed March 31, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1799788/000164117225001738/formnt10-k.htm) - [Greenwich LifeSciences, Inc. Form 10-K filed April 15, 2024: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1799788/000149315224014625/form10-k.htm) [GLSI](https://aibio.space/companies/greenwich-lifesciences/) 2025-03-31 # Greenwich LifeSciences files NT 10-K, expects late annual report by April 15, 2025 Tickers [GLSI](https://aibio.space/companies/greenwich-lifesciences/) The company says it cannot file its 2024 annual report on time and expects to use the 15-day extension. Research and development expenses rose to $12,952,029, and the Phase IIb data behind its lead trial carry unresolved record gaps. ## Key facts - **Company**: Greenwich LifeSciences, Inc. (NASDAQ: GLSI) - **News type**: Distress - **Primary source**: [Greenwich LifeSciences, Inc. Form NT 10-K filed March 31, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1799788/000164117225001738/formnt10-k.htm) *The Capitol dome against a blue sky. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* Greenwich LifeSciences, Inc. (Nasdaq: [GLSI](https://aibio.space/companies/greenwich-lifesciences/)) said on March 31, 2025 that it cannot file its annual report for 2024 within the prescribed time. The company filed a [Form NT 10-K, a notification of late filing](https://www.sec.gov/Archives/edgar/data/1799788/000164117225001738/formnt10-k.htm), under Rule 12b-25 of the Securities and Exchange Commission. It currently expects to file the annual report by April 15, 2025. ## What the late-filing notice says An NT 10-K is the form a company files when it will miss the deadline for its annual report on Form 10-K. The company checked the box stating that the report will be filed on or before the 15th calendar day after the due date. The filing covers the fiscal year ended December 31, 2024. The company says only that it is unable to file "without unreasonable effort and expense." The notice gives no further reason for the delay. Chief Executive Officer Snehal Patel signed it on March 31, 2025 and is the named contact. The company answered yes when asked whether it had filed all other periodic reports required during the preceding 12 months. ## Expected changes in results The company also answered yes when asked whether it expects a significant change in results of operations, and it attached two line items. Research and development expenses increased by $5,253,407, or approximately 68%, to $12,952,029 for the year ended December 31, 2024 from $7,698,622 for 2023. The company says the increase came mainly from higher clinical expenses for its Phase III trial and from the one-time upfront vesting of 25% of an options grant to employees, management and the board of directors. General and administrative expenses increased by $1,430,544, or approximately 88%, to $3,059,788 from $1,629,244. The company says that rise came primarily from the same one-time options vesting. The notice gives no net loss figure and no cash balance. ## The business behind the numbers Greenwich LifeSciences is based in Stafford, TX. Its annual report filed April 15, 2024 describes a clinical-stage biopharmaceutical company focused on one program: the Phase III trial Flamingo-01, which is evaluating GLSI-100, an immunotherapy meant to prevent breast cancer recurrences. GLSI-100 combines GP2, a peptide of the HER2/neu protein, with the immune stimulant GM-CSF. The company plans to expand the trial into Europe and to open up to 150 sites globally. GM-CSF comes from a single manufacturer, and the company says it depends on that supplier. That report also says the company has no committed source of additional capital and that, without adequate funds, it may not be able to continue as a going concern or may have to delay, limit, reduce or end its trials. ## Questions over the Phase II data The Phase III design rests on a Phase IIb trial that the company did not run. It received rights to the data under a license with the Henry M. Jackson Foundation (HJF) after the trial had started, and says it could not take part in the trial as sponsor. That trial enrolled 180 intent-to-treat patients, including 96 with HER2/neu 3+ disease, of whom 46 received GLSI-100 and 50 received GM-CSF alone. The company reports a substantial reduction in recurrences after a median five years of follow-up, but in an efficacy population limited to patients who were treated, followed and still disease free after the first six months. The company also discloses gaps in the record. Lead clinicians reported a sixth recurrence in the control arm that the company chose not to report because HJF's data did not include it. In the fourth quarter of 2023 the company learned of a possible recurrence in the treated arm that was not entered as a recurrence in the database. If that patient is counted, the company says, the reduction in recurrence would be 80% rather than 100%. It says it is still working with HJF and the clinicians, and that the findings do not materially change the study results. A comprehensive Phase II study report for the FDA is still being prepared ahead of any biologics license application. The company says that across the Phase IIb trial and three Phase I trials, 146 patients received GP2 immunotherapy with no serious adverse events related to treatment. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story GLSI Greenwich LifeSciences, Inc. 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Cite as: aibio.space, "Greenwich LifeSciences files NT 10-K, expects late annual report by April 15", 2025-03-31, https://aibio.space/news/greenwich-lifesciences-files-nt-10-k-expects-late-annual-report-april/