SELLAS exits going concern, raises $74M, advances SLS009 to first-line AML trial

Filed March 19, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 20, 2025 · ~2 min read

Key Changes

• high

  Going-concern warning removed after company raised ~$74M through warrant inducements and equity offerings, plus $42.6M in post-period warrant exercises. Cash increased from $13.9M to $71.8M year-over-year.

  MD&A: Liquidity verify on EDGAR →
• high

  SLS009 Phase 2 trial met all primary endpoints with 40% response rate at optimal dose (vs. 20% threshold) and 8.9-month median survival (vs. 2.4-month benchmark). FDA recommended first-line AML study, now enrolling 80 patients.

  Business: SLS009 Development verify on EDGAR →
• high

  REGAL study for GPS reached 72 of 80 required events as of December 26, 2025. Final analysis timing uncertain; company removed prior expectation that 80 events would occur in 2025.

  Business: REGAL Study verify on EDGAR →