Highlights

  • SELLAS reported a net loss of $9,605 thousand for the quarter ended June 30, 2026, compared with $6,601 thousand.
  • Cash and cash equivalents were approximately $138.3 million at June 30, 2026, and the accumulated deficit was $293.0 million.
  • The company received approximately $82.9 million from the exercise of 48.8 million warrants during the six months ended June 30, 2026.
  • The REGAL study had a pooled total of 78 events as of May 11, 2026, with final analysis at 80 events.

SELLAS Life Sciences Group, Inc. (NASDAQ:SLS) shares were trading at USD 10.15 on October 28, 2026, down 16.56%, with a relative volume at time of 4.18. The clinical-stage oncology company's latest periodic report is its quarterly report for the period ended June 30, 2026, filed on August 11, 2026, which covers results, the REGAL study and warrant exercises.

SELLAS is incorporated in Delaware and lists its principal executive offices at 7 Times Square in New York. The company describes itself as a late-stage clinical biopharmaceutical company focused on novel therapeutics for a broad range of cancer indications. Its product candidates are galinpepimut-S, a peptide immunotherapy directed against the WT1 antigen, and SLS009 (tambiciclib), a small molecule CDK9 inhibitor. Its fiscal year ends December 31. The company reports one segment and has generated no revenue from product sales.

Second Quarter 2026 Results

For the three months ended June 30, 2026, SELLAS reported a net loss of $9,605 thousand, compared with $6,601 thousand for the same period in 2025. Research and development expenses were $6,272 thousand, compared with $3,871 thousand. General and administrative expenses were $4,357 thousand, compared with $3,002 thousand. Net loss per common share was $0.05, compared with $0.07.

For the six months ended June 30, 2026, the net loss was $18,012 thousand, compared with $12,414 thousand. Research and development expenses were $11,401 thousand and general and administrative expenses were $8,480 thousand. The company said it did not generate revenue from product sales in either six-month period.

The filing attributes part of the increase in research and development expense to manufacturing costs and clinical and regulatory consulting costs as the company prepares for a potential Biologics License Application filing for galinpepimut-S following final analysis of the REGAL study.

Liquidity and Capital

At June 30, 2026, cash and cash equivalents were approximately $138.3 million and restricted cash was $0.1 million. Total assets were $145,382 thousand and total liabilities were $7,726 thousand. The company reported an accumulated deficit of $293.0 million, and said it expects to continue to generate operating losses and negative cash flows from operations for the next few years.

Net cash used in operating activities was $16.4 million for the six months, and financing activities provided $83.0 million. The company received approximately $82.9 million from the exercise of 48.8 million warrants at a weighted average exercise price of $1.70 per share.

In March 2026, SELLAS entered into a sales agreement with TD Securities (USA) LLC for an at-the-market program of up to $150.0 million in gross proceeds. The company has not sold shares under that program to date.

The company evaluated going concern conditions and expects its cash will fund current planned operations for at least the next twelve months. It said it may pursue additional capital, and that some financings could be dilutive to existing stockholders.

Clinical Programs and Plans

The REGAL study is an open label randomized Phase 3 trial of galinpepimut-S in acute myeloid leukemia patients in second complete remission. The final analysis will be conducted once 80 events (deaths) are reached, and the contract research organization informed the company that the pooled number of events was 78 as of May 11, 2026. The company said it remains blinded to efficacy and survival data.

The company expects the study to be used as the basis for a Biologics License Application, subject to the trial outcome and agreement with the FDA. For SLS009, a randomized 80-patient Phase 2 trial in newly diagnosed, first-line AML began enrollment in the first quarter of 2026, with 28 patients enrolled as of August 10, 2026. The company does not provide numerical financial guidance.