SLS Stock’s Short Interest Hits 8-Year High Ahead Of Key Phase 3 Leukemia Data, Q1 Earnings – Here’s What Wall Street Expects

• Investors are awaiting Sellas’ Phase 3 REGAL trial data evaluating its therapy to treat acute myeloid leukemia.
• Analysts expect Sellas to post a first-quarter loss on Tuesday, though it has beaten Wall Street’s estimates in each of the last seven quarters, according to Koyfin data.
• The company carries a price target of $10, nearly double its current trading levels.

Sellas (SLS) shares came back into focus on Monday as the stock’s short interest climbed above 30%, with investors bracing for key updates from its acute myeloid leukemia (AML) trial and eagerly awaiting the company’s first-quarter results.

SLS shares were up 1% in pre-market trading.

According to Koyfin data, short interest in SLS climbed to 30.7% of the float as of May 11, up sharply from 25.5% at the start of April and 28.4% at the beginning of the year, marking its highest level since at least January 2018. The company has roughly 184.5 million outstanding shares.

Source: Koyfin

SLS AML Study In Focus

All eyes are now on Sellas’ Phase 3 REGAL trial data evaluating its therapy to treat acute myeloid leukemia (AML). AML is a fast-growing blood and bone marrow cancer in which abnormal white blood cells crowd out healthy cells.

Sellas is using Galinpepimut-S (GPS) for the treatment of AML patients in remission after relapse, with the study nearing the key threshold of 80 deaths (events) needed to trigger the final overall survival analysis.

The company had reported 72 events as of Dec. 26, 2025, and said it will begin data analysis and unblind the study once the 80-event target is reached.

SLS Q1 Results In Sight

Analysts expect Sellas to post a quarterly loss on Tuesday, though it has beaten Wall Street’s estimates in each of the last seven quarters, according to Koyfin data. Sellas is expected to post a first-quarter (Q1) loss of $0.06 per share, slightly wider than the $0.05 loss reported in the previous quarter, while loss before interest and tax is forecast to increase to roughly $9 million from $8.3 million a year earlier.

Despite the expected losses, Wall Street remains optimistic on the stock’s long-term potential. Koyfin data shows the company has a price target of $10, nearly double its current trading levels.

What Do Retail Traders Think Of SLS?

Retail sentiment on Stoctwits remained in the ‘bearish’ zone over the past 24 hours, while message volumes increased by nearly 50%.

However, chatter was largely bullish, with one user stating that statistically “GPS is getting stronger and stronger.”

Another user highlighted how “actual evidence” outweighs “noise” around the stock.

SLS shares have surged more than 84% so far in 2026.

Read also: DRTS Stock Surges Pre-Market Even As Retail Traders Debate ‘Too Small’ Brain Cancer Trial Data

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