What happened? Shares of Greenwich LifeSciences (NASDAQ: GLSI) were down by 13.5% as of 2:41 p.m. EST on Friday following its announcement of the pricing of a public offering of common stock. Naturally, investors aren't excited with the prospect of the clinical-stage biopharmaceutical company diluting its existing shareholders. So what Greenwich LifeSciences is offering 660,000 new shares of its common stock for $40 per share. The company is also granting underwriters a 45-day option to purchase an additional 99,000 shares at the public offering price. It expects to collect gross proceeds of $26.4 million, or if the underwriters exercise their full option, roughly $30.4 million. Notably, shares of Greenwich LifeSciences closed Thursday's trading session at $44.52 per share. As of this writing, the company's stock was trading at $38.50 per share. This public stock offering should close on Dec. 22. Image source: Getty Images. Now what Greenwich LifeSciences currently does not have any products on the market, but one of its leading pipeline candidates is a potential cancer treatment called GP2. Management recently released encouraging results from a phase 2 clinical trial for GP2. The healthcare company will use the proceeds from its announced public offering of common stock to advance the development of GP2. 10 stocks we like better than Greenwich LifeSciences, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Greenwich LifeSciences, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source