SELLAS Life Sciences (NASDAQ: SLS) details cash, warrant proceeds and shares

Rhea-AI Filing Summary

SELLAS Life Sciences Group, Inc. reported that it estimates unaudited cash and cash equivalents of $71.8 million as of December 31, 2025. This figure is preliminary and may change once year-end financial closing procedures and management reviews are completed. After December 31, 2025, the company received approximately $26.5 million in proceeds from the exercise of common stock warrants, adding further liquidity. As of January 7, 2026, SELLAS had 170,282,026 shares of common stock outstanding.

Insights

Biotech equity and liquidity analyst

SELLAS highlights its year-end cash estimate and added warrant proceeds, giving investors a clearer view of current liquidity.

SELLAS Life Sciences Group, Inc. estimates unaudited cash and cash equivalents of $71.8 million as of December 31, 2025, explicitly noting that this amount is preliminary and subject to completion of financial closing procedures. For a clinical-stage biotech, this kind of disclosure helps frame how much runway may be available to fund ongoing programs, even though formal financial statements are not yet complete.

Subsequent to December 31, 2025, the company received about $26.5 million in proceeds from the exercise of common stock warrants, which increases available cash resources without requiring a new financing transaction. The filing also states that there were 170,282,026 common shares outstanding as of January 7, 2026, providing a baseline share count for assessing per-share metrics once full year-end results are reported.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): January 7, 2026

SELLAS Life Sciences Group, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-33958		20-8099512
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)
		7 Times Square, Suite 2503 New York, NY 10036
		(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (646) 200-5278

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common Stock, $0.0001 par value per share	SLS	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02. Results of Operations and Financial Condition.

As of December 31, 2025, SELLAS Life Sciences Group, Inc. (the “Company”) estimates that its unaudited cash and cash equivalents position was $71.8 million. This amount is unaudited and preliminary and is subject to the completion of financial closing procedures, including management’s reviews. As a result, this amount may differ materially from the amount that will be reflected in the Company’s financial statements as of and for the year ended December 31, 2025.

Item 8.01 Other Events

Subsequent to December 31, 2025, the Company received approximately $26.5 million in proceeds from the exercise of common stock warrants.

As of January 7, 2026, the Company had 170,282,026 shares of common stock outstanding.

2 

Item 9.01. Financial Statements and Exhibits.

(d)       Exhibits

Exhibit Number		Description
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

3 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		SELLAS Life Sciences Group, Inc.
Date:	January 8, 2026	By:	/s/ John T. Burns
			Name:	John T. Burns
			Title:	Senior Vice President, Chief Financial Officer

FAQ

What cash position did SELLAS Life Sciences (SLS) report as of December 31, 2025?

SELLAS Life Sciences Group, Inc. estimates unaudited cash and cash equivalents of $71.8 million as of December 31, 2025, subject to final closing procedures and management review.

How much did SELLAS Life Sciences (SLS) receive from warrant exercises after year-end 2025?

Subsequent to December 31, 2025, SELLAS Life Sciences Group, Inc. received approximately $26.5 million in proceeds from the exercise of common stock warrants.

How many SELLAS Life Sciences (SLS) common shares were outstanding on January 7, 2026?

As of January 7, 2026, SELLAS Life Sciences Group, Inc. had 170,282,026 shares of common stock outstanding.

Are the SELLAS Life Sciences (SLS) cash figures in this update audited?

No. The company states the $71.8 million cash and cash equivalents figure as of December 31, 2025 is unaudited and preliminary and may change after financial closing procedures and management’s reviews.

What type of SEC filing did SELLAS Life Sciences (SLS) use for this liquidity update?

SELLAS Life Sciences Group, Inc. provided this liquidity and share count update in a Form 8-K filed under the Securities Exchange Act of 1934.

Who signed the SELLAS Life Sciences (SLS) Form 8-K related to this cash update?

The Form 8-K was signed on behalf of SELLAS Life Sciences Group, Inc. by John T. Burns, Senior Vice President and Chief Financial Officer.