Why Greenwich LifeSciences Stock Skyrocketed Today
Shares of Greenwich LifeSciences (NASDAQ: GLSI) were skyrocketing 48.8% higher as of 3:19 p.m. EST on Monday. The huge jump came after the company announced the hiring of Jaye Thompson as vice president of clinical and regulatory affairs.
It's unusual for the addition of a new vice president to provide such a massive catalyst for a biotech stock. In this case, though, the hiring of Thompson increased investors' confidence about the potential for success in the late-stage study of Greenwich's GP2 cancer immunotherapy candidate in treating breast cancer.
Image source: Getty Images.
Source Fool.com