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SLS −2.12% today · Analysis updated Nov 13, 2026, 4:47 PM ET
Why is Sellas Life Sciences (SLS) stock down today?
SLS is a binary biotech setup. On Nov 12, after the close, the company said REGAL Phase 3 topline results would come this month, narrowing earlier Q4 guidance. Shares jumped 17-20% after hours, but the gain faded. The Nov 13 session opened at $8.66, hit $9.00, then fell to a $7.545 low and last traded near $7.86, below the $8.03 prior close, on 11.05M shares. That is well above the recent 4-5M daily volume, so the sell-off had real participation. Q3 results were in line: a $10.1M net loss ($0.05 per share) and $134.7M in cash, up from $71.8M at the end of 2025. R&D spending rose to $7.0M as the company prepares for a possible filing. The stock is down about 46% from its June high of $15.88 and about 35% from the $12.17 close on Oct 27. Short interest is about 27% of the float, which could amplify moves in either direction. The readout is now dated to this month, but the outcome is unknown. A positive overall-survival result would support a BLA, while a miss would likely erase much of the value. The failed run-up on high volume suggests some holders are selling into the event, but this is not a reliable read on efficacy.
News behind the analysis
- SELLAS Life Sciences Reports Third Quarter 2026 Financial Results and Provides Corporate UpdateThe company expects Phase 3 REGAL topline primary endpoint results this month. Phase 2 SLS009 first-line AML has 40 patients enrolled, with preliminary data due in Q4.
- SELLAS Q3 2026 results (company release)The company says topline REGAL results following the 80th event will be reported this month.
- SLS 8-K: Q3 net loss $10.1M, cash $134.7M, REGAL topline expected this monthA Biologics License Application could follow if the results are positive. The filing does not say whether the results will be positive.
- SLS Stock Surges After-Hours: Sellas Says 'Transformative' Phase 3 AML Results Are Coming This MonthShares rose 17% after hours. R&D spending rose to $7M from $4.2M as the company prepares for a possible filing.
- Sellas Life Sciences Stock Jumps 20% After Hours as Pivotal Leukemia Trial Results NearGuidance was narrowed from Q4 to this month. Most of the after-hours gain faded in the next regular session.
- Sellas Life Sciences Stock Jumps on Trial Results TimelineShares were up 7% to $8.59 and are down 46% from the June 30 high of $15.88. About 26.87% of the float is sold short.
- SELLAS Life Sciences Reports Q3 2026 ResultsPositives include the REGAL timing and $134.7M cash. Concerns include the wider net loss and higher R&D costs.
- SLS Stock Surges After-Hours (Stocktwits)The stock fell nearly 5% to $8.03 on Nov 12, heading for a third straight weekly decline. Cash was $134.7M versus $138.3M in June.
- SELLAS' Big Run Now Rests On Two AML ReadoutsA positive REGAL result would support a BLA path. A failure would remove the core value driver.
About SELLAS Life Sciences Group, Inc. Common Stock
SELLAS Life Sciences is a New York-based, late-stage clinical biotech developing cancer therapies, focused mainly on acute myeloid leukemia (AML). Its lead candidates are galinpepimut-S (GPS), a WT1-targeting peptide immunotherapy in the pivotal Phase 3 REGAL trial, and SLS009 (tambiciclib), a CDK9 inhibitor in Phase 2 trials; neither is FDA-approved.
How it makes money
SELLAS has no approved products and essentially no product revenue, so it posts ongoing losses (net loss about $8 million in Q1 2026). It funds R&D by selling shares and through warrant exercises, and had about $138 million in cash as of June 30, 2026. If a drug is approved, future revenue could come from product sales or licensing deals.
What usually moves SLS
- Topline results from the Phase 3 REGAL trial of GPS (final analysis began after the 80th event in Oct 2026)
- SLS009 Phase 2 AML data, including the ASH 2026 presentation
- FDA regulatory decisions
- Cash runway and share dilution from stock offerings
- Swings in biotech sector sentiment and heavy retail and options trading