SLS Stock Charges Ahead As AML Trial Buzz Builds: Report Claims Regal Hit 80th Event — Retail Isn’t Convinced

• The company’s latest official count remains 78 events, with final AML data expected after the required review process.
• Moderna’s positive cancer-vaccine data boosted optimism around Sellas’ GPS candidate.
• Sellas expects initial SLS009 data in Q4 and ended the second quarter with $138.3 million in cash.

Shares of Sellas Life Sciences (SLS) capped their best week in nearly two months as a German report claimed that its key Regal leukemia trial had reached its 80th event, though retail investors remain skeptical without official confirmation.

SLS stock surged 15% on Friday, logging its strongest rally in nearly two months. 

Report Claims Sellas’ AML Trial Hit Key Threshold

An AktienCheck article from the weekend claimed Regal had recorded the 80 deaths required to trigger its final efficacy analysis, with overall-survival data expected in the fourth quarter. However, Sellas has not confirmed the report. The company’s latest disclosed count remains 78 events, which it reported in May.

The Phase 3 study is testing Galinpepimut-S (GPS) as a maintenance treatment for acute myeloid leukemia (AML) patients who achieved a second complete remission after salvage therapy. Sellas considers Regal successful if GPS delivers a median overall survival of 12.6 months, compared with eight months for the control group.

Reaching the threshold would not produce immediate results. Sellas must first complete the customary database lock, blinded review, statistical analysis and unblinding process. “We are approaching the pre-specified 80th event in the Phase 3 REGAL trial, marking a critical step toward the final efficacy analysis and, if successful, a potential BLA submission to the FDA,” CEO Angelos Stergiou said earlier this month.

How Do Retail Traders Feel About SLS?

The report triggered a heated debate among Stocktwits users, many of whom remained bullish but questioned its credibility. Sentiment on the platform slipped slightly to ‘bullish’ from ‘extremely bullish’ levels a day ago amid a 94% jump in 24-hour message volumes. 

“Trust no one other than official company PRs,” one user said. Another said investors should consider the milestone official only after a Sellas press release and regulatory filing. Several users dismissed the report as “AI slop” or “fake news,” while one user cautioned: “Until Sellas management actually posts that 80 events have occurred, we will still be at 78/79.”

Still, bullish users argued that the catalyst is drawing closer regardless of the report’s accuracy. One called the milestone the point when the Sellas story could reach “a much bigger audience.”

Moderna Data Boosts Sellas’ Outlook

The speculation followed positive Phase 3 melanoma data from Moderna and Merck for their personalized mRNA cancer vaccine, Intismeran Autogene. Combined with Keytruda, the therapy helped high-risk melanoma patients remain cancer-free longer and delayed the cancer’s spread compared with Keytruda alone.

Maxim called the result a “win for cancer vaccines” and said it could bode well for Sellas if Regal produces a successful outcome.The firm maintained its ‘Buy’ rating and $30 price target on SLS, implying a 94% upside from current levels. Moderna’s treatment uses mRNA to target melanoma, while Sellas’ GPS uses a peptide to help the immune system recognize the WT1 protein found in AML cells. 

Sellas Adds Another Q4 Catalyst

Sellas has also enrolled 28 of a planned 80 patients in a Phase 2 trial of SLS009 in newly diagnosed AML, including patients whose cancer quickly stops responding to azacitidine and venetoclax. Initial results are expected in the fourth quarter of 2026.

Preclinical studies have also shown SLS009 activity against pancreatic cancer cells resistant to commonly used RAS inhibitors, with stronger effects when the treatments were combined.

Sellas ended the second quarter with $138.3 million in cash and equivalents. Its quarterly net loss widened to $9.6 million from $6.6 million a year earlier, while its per-share loss narrowed to $0.05 from $0.07.

SLS stock has rocketed 778% over the past year. 

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