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Cancer immunotherapy company Sellas Life Sciences Group Inc (NASDAQ:SLS) announced Tuesday that its board is conducting a review of strategic options in a bid to maximize shareholder value.
What Happened
Sellas said the strategic options it is weighing include a sale; business combination; merger or reverse merger with another company; strategic investment/financing; or a funded collaboration or partnership that will allow it to advance the development of its lead product candidates galinpepimut-S, or GPS, and nelipepimut-S, or NPS.
The company said it has roped in Cantor Fitzgerald to assist in the review process.
Why It's Important
Sellas is planning a Phase 3 registrational study for GPS monotherapy in treating acute myeloid leukemia, or AML. The FDA has already reviewed the late-stage study protocol.
Sellas also initiated a Phase 1/2 prospective multi-arm, open-label, multi-institutional U.S.-only clinical study of GPS in combination with Merck & Co., Inc. (NYSE:MRK)'s Keytruda for multiple cancers, including AML; ovarian cancer; triple-negative breast cancer, or TNBC; small cell lung cancer, or SCLC; and colorectal cancer.
Sellas' other lead asset NPS is being developed for TNBC, and the company is in discussions with the FDA regarding the design of a Phase 3 registrational trial.
At the time of the release of its third-quarter results, Sellas said it had unrestricted cash and cash equivalents totaling $10 million, not including a $6.6-million payment related to the settlement of litigation with JGB in November 2018.
Sellas shares were up 3.52 percent at $1.47 at the time of publication Tuesday.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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