SELLAS Q2 Loss Widens to $9.6M as Trial Costs Mount
SLS has more than doubled off its 52-week low of $1.39.
Summary
SELLAS reported a Q2 net loss of $9.61 million, or $0.05 per share, widening from the prior year as operating expenses rose to $10.63 million. The increase was driven by higher R&D costs for the GPS program—including manufacturing, clinical, and regulatory consulting—and elevated G&A from professional fees and stock-based compensation. The company ended the quarter with $138.3 million in cash, consistent with the preliminary balance disclosed in the July 27 8-K, providing runway as the pivotal Phase 3 REGAL trial continues. This follows slower-than-expected enrollment reported in July, which the company attributed to a potentially durable survival benefit. The widening loss underscores the cash burn rate as the trial progresses toward key data readouts.
At the time of this announcement, SLS was trading at $10.98 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.1B. The 52-week trading range was $1.39 to $15.88. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.