SLS · SELLAS Life Sciences Group, Inc.

SELLAS Life Sciences Group, Inc. reported financial results for the first quarter ended March 31, 2026, via Exhibit 99.1 press release furnished under Item 2.02. The net loss widened to $8.4 million, or $(0.05) per share, from $5.8 million, or $(0.07) per share, in Q1 2025, primarily driven by increased research and development expenses of $5.1 million (up from $3.2 million) due to higher manufacturing costs, clinical and regulatory consulting, and trial expenses in preparation for a potential Biologics License Application for GPS post-REGAL study analysis. General and administrative expenses rose to $4.1 million from $2.9 million, attributed to elevated professional fees, consulting, public company costs, and non-cash stock-based compensation. Interest income of $0.8 million partially offset operating losses. Balance sheet remains strong with $107.1 million in cash and equivalents as of quarter-end, bolstered by $7.5 million in subsequent warrant exercise proceeds. Management highlighted execution across clinical programs, notably the Phase 3 REGAL trial of galinpepimut-S (GPS) in AML patients in complete remission post-second-line salvage therapy, with 78 events (deaths) reached as of May 11, 2026—nearing the 80th event trigger for database lock, unblinding, and topline results disclosure. CEO Angelos Stergiou emphasized the milestone potential for GPS and advancing SLS009 data, including preclinical AACR findings on apoptosis induction via MCL-1 suppression in high-risk AML subtypes. Dosing has begun in an 80-patient Phase 2 trial of SLS009 in newly diagnosed first-line AML, targeting high-risk venetoclax-refractory patients, with topline data anticipated in Q4 2026. An ATM offering for up to $150 million provides flexible capital access, though no shares sold to date. These updates position SELLAS with near-term catalysts in AML therapies.