SLS Stock Hits 4-Year High: BlackRock Stake Boost Fuels Buzz Around Looming AML Trial Readout

• Other institutions, including Mariner and Ameritas Investment Partners, also increased exposure to the stock.
• Sellas said on Tuesday that its Phase 3 Regal AML study had reached 78 events as of May 11, leaving the trial just two events away from topline data disclosure.
• Investors are also tracking Sellas’ second AML program, SLS009, which is now dosing patients in a Phase 2 study.

Shares of Sellas Life Sciences Group (SLS) hit over a four-year high on Wednesday as Wall Street buzz intensified around BlackRock’s growing bet on the company and a looming acute myeloid leukemia (AML) data catalyst now drawing heightened investor attention.

SLS stock jumped 25% on Wednesday, logging its best session in over two months. Shares are also eyeing their best week in over four months. 

BlackRock Doubles Down On SLS

Fresh filings from Wednesday showed that BlackRock increased its stake in Sellas by 62% as of March 31, adding 4.7 million shares and lifting its total holdings to 12.2 million shares valued at $51.6 million. Several other institutions also disclosed higher exposure to the stock, including Mariner, which raised its holdings by 9%, and Ameritas Investment Partners, which increased its stake by 44% during the quarter. 

According to Fiscal AI data, top shareholders in Sellas include BlackRock, Vanguard Group, Geode Capital Management, State Street Global Advisors, Millennium Management and Morgan Stanley. 

Sellas Nears Final Trigger For AML Readout

On Tuesday, Sellas said that its Phase 3 Regal study in AML had reached 78 events as of May 11, placing the trial just two events away from the threshold required for final analysis and topline data disclosure.

The Regal study is evaluating galinpepimut-S (GPS) in patients with AML who achieved complete remission after second-line salvage therapy. Once the trial reaches the required 80th event, the company plans to begin database lock procedures, blinded data review, and eventual unblinding ahead of topline results. Sellas said it remains blinded to the trial outcomes.

CEO Angelos Stergiou said on LinkedIn that the company was preparing for database lock and unblinding. “This isn't just a data point; it’s a potential paradigm shift for AML patients,” he said.  Stergiou also said the wait for the final event threshold was “the hardest part for any CEO,” adding that the company believes the months ahead could prove transformational for both Sellas and the broader AML treatment landscape.

Sellas ended the first quarter with $107.1 million in cash and cash equivalents and also received another $7.5 million from warrant exercises during the second quarter to date. The biotech firm additionally established a new at-the-market equity facility, allowing it to raise up to $150 million over time, though it said no shares have been sold under the program so far.

Second AML Program Gives SLS Another Catalyst

Beyond Regal, investors are also focusing on progress around Sellas’ second AML program, SLS009. The company said it has already begun dosing patients in its Phase 2 study evaluating SLS009 in newly diagnosed, first-line AML patients, particularly high-risk patients carrying the TP53 and ASXL1 mutations, which typically respond poorly to standard therapies.

Sellas also recently presented research at a cancer summit showing that SLS009 triggered the death of AML cells while blocking key proteins that help the disease survive and spread. According to the company, signs that the drug was working began appearing within eight hours of treatment and grew stronger over time. Topline data from the Phase 2 SLS009 study are expected in the fourth quarter.

How Do Retail Traders Feel About SLS?

On Stocktwits, retail sentiment for SLS was ‘extremely bullish’ amid a 259% jump in 24-hour message volumes.

One user said, “After today’s volume, I would be fully unsurprised if Institutions owned over 40% of SLS. Possibly over half, they have been making moves all April and May and we won’t hear about them until Q3.”

Another user said, “Further institutional increases related to the first quarter will arrive tomorrow and the day after. And they're certainly buying a lot now too! “

SLS stock has surged 363% over the past year. 

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