Sellas Life Sciences Group Inc Stock Price, News & Analysis

SELLAS Life Sciences Group, Inc. (NASDAQ: SLS) reported its financial results for Q1 2022, highlighting key milestones including the in-licensing of GFH009, a selective CDK9 inhibitor. The company raised $25 million through a public offering, enhancing its cash balance to $14.3 million as of March 31, 2022. Licensing revenue fell to $1 million, down from $5.7 million in Q1 2021. R&D expenses rose to $4.6 million. The net loss increased to $16.7 million, or $1.05 per share, from $2.4 million, or $0.16 per share, year-over-year. Major clinical trials, including the Phase 3 REGAL study for GPS, are ongoing.

SELLAS Life Sciences Group (NASDAQ: SLS) has launched a Pre-Approval Access Program for its lead immunotherapy asset, Galinpepimut-S (GPS), targeting patients with Acute Myeloid Leukemia (AML). This initiative responds to demand from physicians under the 21st Century Cures Act. GPS, which targets the WT1 protein, is currently in pivotal Phase 3 trials and has shown promise as a monotherapy and in combination with PD1 inhibitors. SELLAS aims to improve outcomes for AML patients seeking novel therapeutic options.

SELLAS Life Sciences Group (NASDAQ: SLS) has initiated the fifth dose level cohort of its clinical trial for GFH009, a selective CDK9 inhibitor, focusing on acute myeloid leukemia (AML). The first four dose levels reported no dose-limiting toxicities, with significant anti-leukemic effects noted at 9mg and 15mg doses. Approximately 35% of newly diagnosed AML patients are resistant to current treatments. SELLAS plans to advance to a Phase 2 trial, leveraging GFH009's potential to enhance the effectiveness of venetoclax and azacitidine in treating AML.

SELLAS Life Sciences Group has received approval from China's NMPA for an IND application to begin the first clinical trial of 3D189 (GPS) in China, scheduled for mid-2022. This milestone triggers a $1 million payment to SELLAS, which it expects in Q2 2022. The potential total milestone payments from the licensing agreement with 3D Medicines could reach $191.5 million, excluding future royalties. GPS targets the WT1 protein in various cancers, offering hope for improved patient outcomes.

SELLAS Life Sciences Group (NASDAQ: SLS) announced significant advancements in Q1 2022, including the in-licensing of GFH009, a selective CDK9 inhibitor from GenFleet Therapeutics, which aims to enhance their cancer therapy pipeline. The company closed a public offering raising $25 million for its development projects, including the GPS treatment for acute myeloid leukemia and other cancers. Key organizational changes include the appointment of Robert Francomano as Chief Commercial Officer. Enrollment in the Phase 1/2 GPS study with KEYTRUDA is completed, and an IND for GPS in China is approved.

SELLAS Life Sciences Group (NASDAQ: SLS) announced a public offering of 4,629,630 shares of its common stock and accompanying warrants at a price of $5.40 per share. The offering is expected to generate gross proceeds of $25 million before deducting costs. The securities will be sold by the company and the offering is set to close on April 5, 2022, subject to customary conditions. SVB Leerink and Cantor are the joint book-running managers for this offering. The securities are part of a shelf registration statement previously filed with the SEC.

SELLAS Life Sciences Group (Nasdaq: SLS) has initiated an underwritten public offering of its common stock and associated warrants, with all securities sold by the company. SVB Leerink and Cantor are the joint book-running managers for this offering, which is subject to market conditions. The offering will be conducted under a previously filed shelf registration statement. SELLAS is focused on developing novel cancer therapies, notably GPS and GFH009, potentially addressing various malignancies. The completion details depend on market and closing condition satisfaction.

SELLAS Life Sciences Group has entered a license agreement with GenFleet Therapeutics for worldwide rights to develop GFH009, a selective CDK9 inhibitor, outside Greater China. GFH009 is currently in Phase 1 trials in the U.S. and China, showing promising early results and lower toxicity compared to older versions. SELLAS plans to initiate multiple Phase 2 trials in 2023 for hematological malignancies and pediatric soft tissue sarcomas. The financial terms include an initial $10 million payment and potential milestone payments totaling up to $140 million.

SELLAS Life Sciences Group has appointed Robert Francomano as Chief Commercial Officer, effective immediately. With over 25 years of experience in the biopharmaceutical sector, Francomano previously led Stemline Therapeutics through its transition to full commercialization. His expertise is expected to significantly contribute to SELLAS’s pipeline, particularly with its lead candidate, galinpepimut-S (GPS), which targets various tumor types. CEO Angelos Stergiou expressed confidence in Francomano’s capabilities, hoping to advance the company's mission in cancer therapies.