Jason McCarthy, an analyst from Maxim Group, maintained the Buy rating on SELLAS Life Sciences Group (SLS – Research Report). The associated price target is $4.00.
Jason McCarthy has given his Buy rating due to a combination of factors related to the progress and potential of SELLAS Life Sciences Group’s research and development activities. Notably, the Fast Track designation received from the FDA for SLS009 in relapsed/refractory acute myeloid leukemia (r/r AML) signifies a recognition of the drug’s potential to address an unmet medical need. The positive data update from the Phase 2a combination study with SLS009, which includes extended survival rates in a patient group with typically poor prognosis, further underscores the treatment’s potential efficacy.
Additionally, the recent equity financing conducted by SELLAS Life Sciences Group has provided the company with a financial runway to reach the next significant data milestones for both SLS009 and GPS (galinpepimut-S). The strategic financing, despite the near-term dilution, is seen as a proactive management move to ensure continued development without the hindrance of current arbitration issues. Moreover, the progress in the Phase 3 REGAL study for GPS, with an enrollment of over 100 patients, is promising, especially considering the historical data suggesting a significant improvement in survival rates compared to control groups. The anticipation of interim and final analysis data in 2024, along with a high power for demonstrating a potential hazard ratio improvement, supports the optimistic outlook for the stock.
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SELLAS Life Sciences Group (SLS) Company Description:
SELLAS Life Sciences Group, Inc. operates as a clinical stage biopharmaceutical company, which focuses on the development and commercialization of novel cancer immunotherapeutics for cancer indications. Its product galinpepimut-S, or GPS, is an immunotherapeutic agent licensed from Memorial Sloan Kettering Cancer Center, or MSK, which targets the Wilms tumor 1, or WT1, protein. Its products include galinpepimut-S and nelipepimut-S. The company was founded on April 3, 2006 and is headquartered in New York, NY.
Read More on SLS:
- SELLAS Life Sciences Receives FDA Fast Track Designation for SLS009 for Treatment of Relapsed/Refractory Acute Myeloid Leukemia and Provides Updated Data for Phase 2a Study of SLS009 in Relapsed/Refractory Acute Myeloid Leukemia Patients
- Sellas Life Sciences receives FDA fast track designation for SLS009
- Sellas Life Sciences prices 12M shares at 75c in public offering
- SELLAS Life Sciences Announces Pricing of $9.0 Million Public Offering
- Sellas Life Sciences announces proposed public offering of common stock
