SLS Stock Jumps Ahead Of CEO’s Fox Appearance: Retail Bets AML Readout Could Spark Big Pharma Bidding War

• Retail traders linked the upcoming AML readout with CEO Angelos Stergiou’s Fox appearance.
• The speculation centers on the Phase 3 Regal trial of GPS, which had reached 78 of the 80 events required to trigger its final analysis.
• Retail traders said that the period between the 80th event and topline data could potentially set up a Big Pharma bidding war.

Shares of Sellas Life Sciences (SLS) jumped 3% overnight late Monday as retail traders bet that the final acute myeloid leukemia (AML) readout could turn this week’s Fox appearance into a launchpad for Big Pharma interest.

SLS stock surged 12% on Friday to close at $13.19, capping a 3% weekly gain. 

SLS Retail Eyes Big Pharma Bidding War

The speculation is related to Sellas’ Phase 3 Regal trial of galinpepimut-S (GPS) in AML. The study is nearing the 80th event required to trigger its final analysis. Retail sentiment on Stocktwits sllipped to ‘neutral’ from ‘bullish’ levels a week ago amid a 12% rise in 24-hour message volumes. However, watchers for the stock have risen nearly 5% in a month.

One trader called CEO Angelos Stergiou’s media strategy a “masterclass in forcing a Big Pharma decision,” saying that the period between the 80th event and topline data could trap short sellers. “We aren't waiting for a buyout—we’re manufacturing the conditions that make a bidding war inevitable,” the user said.

Another investor expects Sellas to announce the topline results around Stergiou’s Fox appearance, while projecting a surge in the stock and a bidding war.  A third user said Stergiou had spent more than five years protecting Regal and would not risk the program for “30 minutes of television fame,” adding: “The timeline is compressed because the destination is set.”

Other traders predicted that Stergiou would discuss the company’s two flagship drugs and the path to topline data. Several named Johnson & Johnson, Merck, Pfizer, AbbVie, Eli Lilly, and Bristol Myers as possible bidders. “One thing is for sure, JnJ will be watching Fox News,” another user said, citing LinkedIn activity. 

Fox Appearance Adds To SLS Takeover Buzz

Stergiou said on LinkedIn last week that he would return to Fox & Friends after a recent discussion with host Brian Kilmeade about the future of AI-powered cancer vaccines. He said that the segment’s date and time were still being finalized, adding that the discussion would cover Sellas’ clinical programs and efforts to advance more personalized cancer care through GPS and SLS009 (the company’s second clinical-stage drug candidate).

Meanwhile, retail takeover speculation has intensified as the market value swelled from about $73 million at the start of 2024 to more than $1.5 billion by mid-2026, with Regal nearing completion. Investors have pointed to Stergiou’s previous references to “strategic partners,” changes to executive change-of-control benefits and the potential commercial value of GPS and SLS009 (the second drug).

Sellas' Final GPS Readout Moves Closer

Regal is a Phase 3 study evaluating GPS in AML patients who have entered a second complete remission. The trial had reached 78 of the 80 events required to trigger its final analysis. Sellas has said that the study would be considered successful if GPS extends median overall survival to 12.6 months, compared with eight months for best available therapy. Stergiou previously said the company would announce the 80th event and then enter a formal quiet period until topline results are available.

He has also pushed back against claims that the slower event rate necessarily means patients in the control arm are surviving longer. Since Sellas remains blinded, neither the company nor investors know which arm is responsible for the slower accumulation of events. The CEO has also rejected calls to stop the trial at 78 events, saying, “Events are our statistical currency,” and warning that an early halt could create regulatory concerns and timing bias.

SLS stock has surged 594% over the past year. 

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