New York, Feb 23, 2026, 05:32 EST — Premarket
- SELLAS Life Sciences climbed roughly 3.4% before the bell, changing hands near $4.29.
- Friday’s session saw heavy trading and big price swings, with the stock settling at $4.15 by the close.
- Traders are watching closely for updates from the event-driven Phase 3 AML study, along with the earnings window coming up in mid-March.
SELLAS Life Sciences Group Inc was up 3.4% at $4.29 ahead of the open on Monday, pushing higher after a run in the clinical-stage cancer drug developer’s shares. 1
Why does it matter? SELLAS is fast approaching a pivotal stage in its lead acute myeloid leukemia program. One milestone here could either accelerate or delay the final analysis. With thin liquidity, biotech names like this can see their entire week reshaped by a single item on the calendar.
SELLAS finished Friday at $4.15, marking a 2.7% gain for the session. Shares moved in a range from $3.97 to $4.27, with volume near 5.9 million, according to Investing.com data. 2
SELLAS is pressing ahead with its pivotal Phase 3 overall-survival trial, dubbed REGAL, testing the galinpepimut-S (GPS) vaccine in AML patients who’ve reached a second complete remission. As of a Dec. 29 update, 72 out of 80 deaths needed to trigger final analysis had been recorded, with the company planning to publicize the 80th event once it occurs. CEO Angelos Stergiou noted that survival times “appear longer than expected.” 3
SELLAS is pushing SLS009, its CDK9 inhibitor, into frontline AML—where there’s a bigger patient pool, but the bar for success is higher. Back in January, the company announced a deal with the IMPACT-AML network to bring SLS009 trials to Europe. U.S. enrollment was slated to kick off in the first quarter, with European sites expected to follow in the second. Stergiou called this “a highly meaningful milestone.” 4
On funding, SELLAS reported in a Jan. 7 securities filing that it had about $71.8 million in cash and cash equivalents at the end of December. After the year rolled over, warrant exercises brought in another $26.5 million from common stock. As of Jan. 7, the company disclosed 170.3 million shares outstanding.
Traders have piled in, Benzinga data shows, with short interest standing at 41.33 million shares—roughly 24.42% of the float. That kind of setup has the potential to fuel outsized swings in either direction. 5
SELLAS moved against the sector’s early trend—SPDR S&P Biotech ETF slipped roughly 1.5% before the bell.
Still, the trade isn’t without risk. REGAL tracks overall survival, so timelines hinge on patient results and can easily shift. A negative result would almost certainly weigh on the shares. Despite the fresh warrant cash, development-stage biotechs tend to circle back for more capital.
Investors now look out for confirmation that the 80th REGAL event has taken place, a milestone that signals the final analysis is on deck. Another focal point: SELLAS’ next quarterly earnings, tentatively scheduled for around March 19, according to market calendars. 6
