Sellas Life Sciences (SLS) Share Price Drops Amid Silence on AML Drug Trial
Shares of Sellas Life Sciences Group Inc. (NASDAQ:SLS) fell by 13.15% to $13.21 apiece as investors grew concerned over the company's lack of communication regarding its phase 3 clinical trial for Galinpepimut-S, a treatment candidate for acute myeloid leukemia (AML). The drop followed reports that the study had reached its 80th patient death—a pre-specified milestone meant to trigger results—but Sellas has yet to release any official data. In addition to the clinical uncertainty, Sellas reported wider net losses in Q2 of $9.6 million compared to $6.6 million a year earlier due to rising operating expenses. The company also hinted at potential takeover activity after revising executive employment agreements with key leaders including CEO Angelos Stergiou and CFO John Burns. Despite the recent volatility, institutional investors remain optimistic about Sellas' long-term prospects, as 13 hedge funds increased their combined holdings by nearly 490% to $79.7 million in Q2.
Tickers: $SLS
Topics: aml treatment biotech phase-3 trial share price drop