Strong Buy Rating on SELLAS Life Sciences Amid Progress in AML Treatment Pipeline

In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on SELLAS Life Sciences Group (SLS – Research Report), with a price target of $4.00.

Jason McCarthy has given his Buy rating due to a combination of factors including the progress and potential of SELLAS Life Sciences Group’s product pipeline. The company’s leading candidate, Galinpepimut-S (GPS), is currently in a Phase 3 REGAL study for the treatment of acute myeloid leukemia (AML), which has successfully reached full enrollment. The positive interim review by the Independent Data Monitoring Committee (IDMC) without any recommendations for trial modifications underlines the potential efficacy and safety of the treatment. Furthermore, GPS is targeting a significant unmet medical need, aiming to provide maintenance therapy and prevent relapse, which could position it as a key player in AML treatment.

Additionally, SELLAS’s CDK9 inhibitor, SLS009, has shown promising results in a Phase 2a combination study with venetoclax and azacitidine in AML patients, particularly those with ASXL1 mutations. The reported data indicates favorable response rates and tolerability, leading to the expansion of the study with two additional cohorts. These developments suggest that SLS009 has the potential to improve outcomes for a subset of AML patients, further supporting the Buy rating. The anticipation of additional data updates by the end of the second quarter and the company’s strategic focus on addressing high unmet needs in cancer treatment contribute to McCarthy’s positive outlook on the stock.

According to TipRanks, McCarthy is an analyst with an average return of -14.4% and a 30.58% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Inmune Bio, and SELLAS Life Sciences Group.

In another report released yesterday, Ladenburg Thalmann & Co. also maintained a Buy rating on the stock with a $6.00 price target.

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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.