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60 /100
HIGH RISK
Score updated Jul 28, 2026

GLSI — Greenwich LifeSciences, Inc. Dilution Risk Tracker

Track GLSI dilution risk with DilutionWatch's stock tracker. DilutionScore™ measures dilution risk across 5 factors — lower scores indicate higher risk of share dilution.

⚠️ Not financial advice. Do your own research before making any investment decisions.

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As of July 28, 2026, Greenwich LifeSciences, Inc. (GLSI) has a DilutionWatch DilutionScore of 60/100, rated HIGH dilution risk. Greenwich LifeSciences, Inc. has a market capitalization of $362.64M, 14.68M shares outstanding, 64 institutional holders tracked. Key dilution vectors include 8.01M outstanding warrants, approximately 8 months of cash runway.

Source: DilutionWatch (dilutionwatch.com) — data updated daily from SEC EDGAR filings. Not financial advice.

Score Breakdown

📋 Offering Ability
40
💰 Cash Runway
65
📊 Float Risk
70
⚠️ Warrant Exposure
90
🔄Convertible Debt—

Dilution Forecast

⛈️
Warning
High probability of dilution event
36%
📜 Warrant Exercise 60%
• Massive warrant overhang: 55% of shares outstanding
• Warrant risk score very high (90/100)
💰 Capital Raise 15%
• Under 12 months cash (8mo)
📉 Score Deterioration 10%
• Score in HIGH risk zone (60/100)
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Market Data

Market Cap$362.64M
Shares Outstanding14.68M
Float6.57M
Cash$6.18M
DebtN/A
Short InterestN/A

Institutional Holdings

QoQ: ↑ 57.5% shares (2026Q1 vs prior)
64 institutional holders · 2.11M shares
#1 VANGUARD CAPITAL MANAGEMENT LLC 596.5K shares
#2 BlackRock, Inc. 433.9K shares
#3 GEODE CAPITAL MANAGEMENT, LLC 155.5K shares
+ 17 more holders Sign up free to view →

Short Interest

Short Interest1.47M
Days to Cover12.1
% of Float22.4%
FINRA data as of Jul 15, 2026

Recent SEC Activity

xbrl XBRL WARRANT 2025-12-31
Full SEC filing analysis available with free account →

Recent News

No recent news

What This Means for GLSI Shareholders

Greenwich LifeSciences, Inc. (GLSI) has a DilutionScore of 60/100, placing it in the High dilution risk tier. This score reflects at least one active dilution mechanism — a shelf registration, ATM program, outstanding warrants, or limited cash runway — that could materially increase the share count over the next 12–18 months. Score as of July 28, 2026, updated from SEC EDGAR data.

DilutionWatch tracks 8.0M outstanding warrants for GLSI. Warrants become dilutive when exercised — converting to common shares at the strike price. Warrants near or in-the-money deserve particular attention since exercise can add materially to the outstanding share count within a short window. Cash runway is a key watch item: GLSI has approximately 8 months of runway at current burn rate. Companies with less than 18 months of runway are statistically more likely to file new shelf registrations or ATM programs within the next two quarters. DilutionWatch monitors SEC 10-Q filings to update this estimate each quarter.

DilutionWatch tracks over 25 SEC filing types for GLSI in real-time, scanning EDGAR every 60 seconds. The DilutionWatch shows real-time score changes for GLSI alongside comparable high-risk stocks. Not financial advice — this analysis is for informational purposes only.

Warrants Explained →

Understanding GLSI's Dilution Risk Factors

Primary Risk Drivers

The most concerning factors in GLSI’s dilution profile are Warrant Exposure and Float Risk. Warrant Exposure scores at a high level, indicating significant potential for future share issuance through warrant conversions. These instruments often come with low strike prices, allowing holders to acquire shares at below-market rates, thereby increasing the total number of outstanding shares. Float Risk also ranks high, suggesting that a large portion of shares could be available for trading, which may attract speculative interest and increase the likelihood of further dilution events.

Factors Currently Not a Concern

Offering Ability and Convertible Note Risk are currently low, indicating that GLSI is not actively issuing new equity through traditional offerings or converting debt into equity. However, if GLSI were to file an S-3 registration statement or issue convertible notes with favorable terms, Offering Ability could rise significantly. Similarly, if the company enters into a new convertible note agreement or issues warrants with lower strike prices, Convertible Note Risk would escalate.

SEC Filings to Watch

Several SEC filings are critical to monitor for signs of increased dilution. An S-3 registration statement signals potential large-scale equity offerings that could significantly dilute existing shareholders. A 424B5 filing often accompanies new equity issuances and warrants, providing details on the terms and number of shares involved. An 8-K Item 1.01 indicates a material event, such as a new financing or warrant issuance, which may increase dilution risk. Additionally, any 10-Q filings that show declining cash reserves or increased share-based compensation could signal an elevated risk profile.

How Dilution Happens

Dilution occurs when new shares are issued, reducing the ownership percentage of existing shareholders. In GLSI’s case, high Warrant Exposure means warrants may be converted into common stock at below-market prices, increasing supply. If Float Risk is elevated, it suggests a high proportion of shares are available for trading, potentially encouraging more issuance to meet demand or fund operations. As cash runway decreases, the company might issue additional equity to raise capital, leading to further dilution. Each step in this process increases the total number of shares outstanding, reducing earnings per share and diluting existing ownership.

What Would Make This Worse

A significant deterioration in GLSI’s risk profile would occur if multiple dilution factors were triggered simultaneously. For example, a new convertible note issuance combined with an S-3 filing for a large equity offering could drastically increase the number of shares available. Additionally, if Warrant Exposure were to spike due to new warrant grants or a sharp drop in stock price leading to early conversions, it would compound existing risks. An 8-K Item 1.01 announcement of a major financing round or an unexpected cash shortfall could also accelerate dilution risk.

Key Insight

While low scores indicate safer conditions, GLSI’s elevated Warrant Exposure and Float Risk suggest that even minor changes in strategy or capital needs could quickly escalate dilution concerns.

How to Monitor GLSI for Dilution Risk

What This Risk Level Means

For a small-cap operating company like Greenwich LifeSciences, Inc. (GLSI), a high dilution risk profile signals significant exposure to equity dilution events that could negatively impact shareholders. Small-cap companies often rely on external capital to fund operations and growth, making them more vulnerable to dilutive financing activities. With a high dilution score, GLSI is likely in a phase where it may be actively raising capital through equity offerings or other mechanisms that increase the total number of shares outstanding. This risk level is particularly concerning for investors focused on long-term value preservation, as dilution can erode share price and reduce earnings per share, even if underlying fundamentals remain strong.

What Typically Happens Next

Companies with elevated dilution profiles often proceed through a series of capital-raising activities. These may include shelf registrations, ATM programs, or warrant exercises that are designed to raise capital quickly and efficiently. For GLSI, the presence of high scores in Offering Ability, Cash Runway, Float Risk, and Warrant Exposure suggests the company might be preparing for or executing such strategies. The typical timeframe for these activities is often within 6–12 months from a high dilution score, especially when cash runway is tight. Investors should monitor SEC filings closely for announcements of upcoming offerings, particularly those involving convertible notes or warrants that can significantly increase share count.

Monitoring Playbook

To effectively track GLSI’s dilution risk, use DilutionWatch to set up alerts for key financial and equity events. Monitor the company’s SEC filings weekly for any new equity offerings or changes in outstanding shares. Set thresholds for when scores such as Offering Ability or Warrant Exposure rise above 70/100, which may indicate an imminent dilutive event. Additionally, track the Cash Runway score closely — a rise above 60/100 is a strong signal that capital raising is likely. Use Shelf & ATM Monitor to cross-reference any upcoming shelf filings or ATM programs that may be linked to GLSI’s dilution profile.

Early Warning Signals

Several specific signals in SEC filings or score changes indicate a worsening dilution risk. First, an increase in the number of warrants or convertible notes outstanding without corresponding financial improvements is a red flag. Second, the filing of a shelf registration statement with large offering sizes suggests that capital raising is imminent. Third, a sharp rise in the Float Risk score, especially when combined with increased Warrant Exposure, can indicate that a large portion of shares may be entering the public market soon.

What a Positive Resolution Looks Like

A positive change in GLSI’s dilution profile would likely come from a capital raise that results in improved cash runway or debt paydown, which would reduce the need for further equity dilution. Additionally, the expiration or conversion of warrants and convertible notes without replacement offerings would be a strong indicator of reduced risk. Another favorable sign is a sustained improvement in the Cash Runway score, indicating that the company now has sufficient reserves to fund operations without relying on external equity financing.

Watch For

Any increase in Offering Ability or Warrant Exposure scores above 70/100, as well as shelf registration filings, are early indicators of potential dilutive activity.

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