SLS, IBRX In Focus: Canadian Insurance Giant Manulife’s Unit Raises Stakes Ahead Of Key Cancer Catalysts

• The insurer raised its SLS position by 7.1% to 48,937 shares, valued at $722,310 as of June 30.
• Sellas’ Phase 3 Regal trial has recorded 78 of the 80 events required to trigger its final analysis.
• ImmunityBio awaits a Jan.6 FDA decision on Anktiva’s label expansion.

Sellas Life Sciences (SLS) and ImmunityBio (IBRX) drew attention on Wednesday after Canadian insurance giant Manulife’s principal operating insurer disclosed that it increased its institutional stakes in both cancer-drug developers during the second quarter.

SLS stock snapped a two-session winning streak to close marginally lower on Wednesday, while IBRX fell 3%, marking its worst session in nearly two weeks. 

Manulife Unit Boosts SLS, IBRX Stakes 

The Manufacturers Life Insurance Company reported holding 48,937 SLS shares as of June 30 after adding 3,246 shares, lifting its position by 7.1% to a reported value of $722,310. The insurer also increased its IBRX stake by 27.5%, adding 52,581 shares to finish the quarter with 243,678 shares worth about $2.13 million, according to data compiled by Fiscal AI.

Combined, the two positions were worth about $2.86 million at the end of the second quarter. Manulife is a global insurance and financial-services group that reported $1.24 trillion in assets under management and administration as of Dec.31, 2025.

Sellas Nears Regal Final Analysis 

Sellas is approaching the final analysis of its Phase 3 Regal trial evaluating Galinpepimut-S (GPS) in acute myeloid leukemia (AML) patients who achieved complete remission following second-line salvage therapy. The study has recorded 78 of the 80 events required to trigger the analysis. After the 80th event, Sellas will proceed with database lock, blinded review, statistical analysis and unblinding before releasing topline results.

The trial would be considered successful if GPS delivers a median overall survival of 12.6 months, compared with eight months for standard treatment.

Sellas is also advancing its selective CDK9 inhibitor SLS009, or Tambiciclib. The company has enrolled 28 of a planned 80 patients in a Phase 2 trial involving newly diagnosed AML patients, including those whose disease quickly stops responding to azacitidine and venetoclax. Initial data are expected in the fourth quarter of 2026.

Three preclinical SLS009 studies have also been accepted for presentation at the AACR Conference on Pancreatic Cancer from Sept. 25 to Sept. 28. Conducted with the University of Wisconsin-Madison, the studies test SLS009 in models created from patients’ KRAS-mutant pancreatic tumors. Researchers are examining whether it works better alongside BET- and KRAS-targeting drugs and whether it can attack weaknesses linked to the cancer-driving MYC gene. 

ImmunityBio Awaits FDA Decision 

ImmunityBio’s institutional addition comes as it expands Anktiva, its IL-15-based immune activator, across new markets and indications. Anktiva is now approved or authorized in 34 countries. In July, the UAE authorized it for a broader group of bladder cancer patients, including those with papillary-only tumors, and alongside checkpoint inhibitors for certain advanced lung cancers that progressed after standard treatment.

Papillary-only patients remain outside Anktiva’s U.S. label, but the FDA is reviewing ImmunityBio’s expansion application and is expected to decide by Jan.6, 2027.

Anktiva’s widening reach is driving revenue growth. Second-quarter net product revenue reached a record $50.7 million, up 92% year over year and 15% sequentially, marking an eighth consecutive quarter of growth. First-half revenue rose 121% to $94.8 million.

How Do Retail Traders Feel About SLS And IBRX?

On Stocktwits, retail sentiment for both SLS and IBRX was ‘bearish’ amid ‘low’ message volume.

One user said, “$SLS I’m bullish AF and loaded to the teats here - largest position I’ve ever held. The chronology speaks for itself and every day without 80 further cements the win. The options chain also points towards price suppression and how tightly coiled the spring is.”

Another user said, “$IBRX IBRX Anktiva based drug pipeline has cancer curing efficacy and unmatched safety profile.”

While SLS stock has surged 650% over the past year, IBRX stock has jumped 214% over the same period. 

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