SELLAS Life Sciences Group, Inc. $(SLS)$, a late-stage clinical biopharmaceutical company, reported its financial results for the first quarter ended March 31, 2025. The company announced a net loss of $5.8 million for the quarter, showing an improvement compared to a net loss of $9.6 million in the first quarter of 2024. The basic and diluted loss per share was $0.07, compared to $0.21 in the same period last year. As of March 31, 2025, SELLAS reported cash and cash equivalents totaling approximately $28.4 million. The company also received an additional $4.0 million in proceeds from warrant exercises subsequent to the quarter's end. In terms of business updates, SELLAS highlighted positive developments in its pipeline, including encouraging survival data from a Phase 2 trial of SLS009 in relapsed/refractory acute myeloid leukemia $(AML.AU)$, with median overall survival surpassing historical benchmarks. The company also noted promising efficacy of SLS009 in pediatric acute lymphoblastic leukemia $(ALL)$ xenograft models and anticipates the final analysis of the Phase 3 REGAL trial of Galinpepimut-S $(GPS.AU)$ in AML later in 2025. SELLAS raised $25.0 million in gross proceeds from a registered direct offering on January 28, 2025, strengthening its financial position for working capital and potential acquisitions.
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