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Texas-based biotech
Greenwich Life Sciences (NASDAQ:GLSI) is currently developing immunotherapy for use against certain types of breast cancer. Founded in 2006, the company was actually 2020 s top-performing IPO, appearing on the market at $5.75 in September and hitting a low of $3.26 in November before peaking at $72 in December, when news first broke regarding positive phase 2b results in breast cancer patients. Investors were ecstatic, but the boost didn t last. The stock ended up being shorted heavily until it stabilized and is currently at about $32.
What caused such a dramatic rise and fall, and is the stock s valuation appealing now?
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