Sellas Life Sciences Group Inc Stock Price, News & Analysis

SELLAS Life Sciences Group, Inc. (SLS) announced on December 17, 2020, the successful closing of a registered direct offering, generating net proceeds of approximately $14.9 million. Additionally, the exercise of warrants contributed $8.1 million to the company's finances. This funding will support the development programs for their lead candidate, galinpepimut-S (GPS), particularly the ongoing Phase 3 trial for acute myeloid leukemia (AML). An anticipated non-dilutive license fee of $7.5 million from 3D Medicines will further bolster their cash position.

SELLAS Life Sciences Group (Nasdaq: SLS) announced a registered direct offering of approximately $16.2 million of its common stock at $7.00 per share, set to close around December 16, 2020. The company will sell 2,320,000 shares, expecting gross proceeds before fees and expenses. Maxim Group LLC acts as the exclusive lead placement agent for this offering. The shares are offered under a previously filed shelf registration statement and do not constitute an offer in jurisdictions where sales would be unlawful.

SELLAS Life Sciences Group (Nasdaq: SLS) announced positive results from its Phase 2 VADIS trial of nelipepimut-S (NPS) for ductal carcinoma in situ (DCIS) patients. The study showed a significant long-term immune response, with NPS+GM-CSF treatments increasing specific T-cell responses by up to 1,300% compared to control. The results, presented at the San Antonio Breast Cancer Symposium, suggest NPS may enhance immunity against HER2-expressing breast cancer. No serious adverse reactions were reported, supporting further development of NPS.

SELLAS Life Sciences Group has announced an Exclusive License Agreement with 3D Medicines, allowing the latter to develop and commercialize SELLAS' lead candidate, galinpepimut-S (GPS), in Greater China. SELLAS can earn up to $202 million, including a $7.5 million upfront fee and $8 million in near-term milestones, plus tiered royalties from sales. The deal enhances SELLAS' financial position and expands GPS's market reach, while 3D Medicines will handle development costs in China.

SELLAS Life Sciences Group has received approval for the Phase 3 REGAL study of galinpepimut-S in acute myeloid leukemia (AML) patients, allowing enrollment in France. The company strengthened its balance sheet with a $9.2 million financing, aimed at supporting ongoing clinical studies. Net loss for Q3 2020 was $4.5 million, a decrease from $11.5 million in Q3 2019. Cash and cash equivalents stood at approximately $8.2 million as of September 30, 2020. Challenges due to COVID-19 are affecting patient enrollment timelines.

SELLAS Life Sciences Group (SLS) announced the approval of its Investigational Medicinal Product Dossier (IMPD) by the French regulatory authority for its Phase 3 REGAL study of galinpepimut-S (GPS) in Acute Myeloid Leukemia (AML) patients who have achieved complete remission. This milestone allows for increased patient enrollment in France. Previous data from a Phase 2 study indicated a median overall survival of 21.0 months for GPS-treated patients, compared to 5.4 months with standard care. The REGAL study aims to evaluate overall survival and other key clinical endpoints.

SELLAS Life Sciences Group (SLS) recently strengthened its balance sheet with a $9.2 million private placement. The company is advancing its clinical programs for galinpepimut-S, including the Phase 3 REGAL study for AML, expected to yield multiple data readouts within 18 months. R&D expenses rose to $2.3 million in Q2 2020, compared to $1.4 million in Q2 2019, primarily due to REGAL study costs. The net loss for Q2 2020 was $4.4 million, or $0.66 per share, slightly increased from $4.1 million in Q2 2019. As of June 30, 2020, cash and cash equivalents stood at $3.3 million.

SELLAS Life Sciences Group (Nasdaq: SLS) announced on July 31, 2020, a private placement to raise approximately $9.2 million by offering up to 2,744,078 shares of common stock and accompanying warrants, priced at $3.335 per share. The transaction closing is expected on August 4, 2020, subject to customary conditions. Maxim Group LLC is the sole placement agent. The securities will not be registered under the Securities Act and are offered only to accredited investors. SELLAS is focused on innovative cancer immunotherapies, including its lead candidate, galinpepimut-S.

SELLAS Life Sciences Group, Inc. (Nasdaq: SLS) has announced its 2020 Annual Meeting of Stockholders will be held virtually on June 9, 2020, at 8:30 a.m. Eastern Time due to COVID-19. Stockholders of record by April 13, 2020, can vote and ask questions online starting at 8:15 a.m. Eastern Time. Participation requires a 15-digit control number and the meeting password: SLS2020. Beneficial owners must register in advance with Computershare by June 4, 2020. Stockholders can submit questions prior to the meeting or during the live webcast.