SLS Stock Surges Into Conference Season As Investors Hunt For AML Readout Hints

• Investors are watching three upcoming Sellas healthcare and cancer conferences this month.
• Sellas’ Phase 3 Regal AML study is now just two events away from final analysis and topline data.
• Sellas ended Q1 with $107.1 million in cash and added another $7.5 million through warrant exercises.

Shares of Sellas Life Sciences Group (SLS) are headed for their best week in over four months as investors piled into the cancer drugmaker ahead of a busy conference calendar, while its closely watched Phase 3 acute myeloid leukemia (AML) study inches toward the final event threshold needed to unlock topline data. 

SLS stock has surged 48% so far this week, on track to be its best week since January. Share jumped 14% on Monday and added another  1% in extended trading. 

Sellas Lines Up 3 Investor Events

The rally comes as Sellas prepares to participate in three healthcare and cancer-focused investor conferences this month, which investors see as potential venues for commentary on the company’s AML pipeline.

Sellas will participate in the 2026 Stifel Virtual Targeted Oncology Forum on May 19, A.G.P.’s Annual Virtual Healthcare Conference on May 20, and TD Cowen’s 7th Annual Oncology Innovation Summit on May 27.

“These events provide a valuable opportunity to discuss our continued clinical progress, upcoming milestones, and our commitment to advancing innovative therapies for patients with cancer,” Stergiou said on LinkedIn.

SLS Final AML Trigger Nears

Investor attention has largely centered on Sellas’ Phase 3 Regal trial evaluating galinpepimut-S (GPS) in AML patients who entered complete remission following second-line salvage therapy. The company disclosed earlier this week that the study had reached 78 events as of May 11, leaving it just two events short of the required threshold for final analysis and topline data disclosure.

Once the study reaches the 80-event mark, Sellas plans to move into database lock procedures, blinded data review, and eventual unblinding before releasing topline findings. The company said it remains blind to the results.

Stergiou recently called the current waiting period “the hardest part for any CEO,” while also signaling that preparations for database lock and unblinding were already underway.

SLS Catalyst Beyond Regal

Beyond the Regal study, investors are also tracking growing momentum around Sellas’ second AML-focused program, SLS009. The company has already begun dosing patients in a Phase 2 study evaluating the therapy in newly diagnosed, first-line AML patients, particularly high-risk individuals carrying TP53 and ASXL1 mutations, groups typically associated with poor outcomes under standard treatment approaches.

Recent research presented by Sellas showed that SLS009 triggered AML cell death while blocking proteins associated with disease survival and spread. According to the company, signs of activity emerged within eight hours of treatment and strengthened over time. 

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

Institutional Buying Fuels SLS Rally

Fresh institutional buying also added to the bullish momentum surrounding the stock. Recent disclosures showed that BlackRock increased its stake in Sellas by 62% as of March 31, adding 4.7 million shares and bringing its total holdings to 12.2 million shares valued at $51.6 million.

Other institutions also reported larger positions during the quarter, including Mariner, which increased its holdings by 9%, and Ameritas Investment Partners, which raised its position by 44%. Additional Thursday filings pointed to new stakes from Virtu Financial, while MetLife Investment Management increased its holdings by 247% and CWM raised its stake by 13%.

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

How Do Retail Traders Feel About SLS?

On Stocktwits, retail sentiment for SLS jumped to ‘extremely bullish’ from ‘bearish’ levels a week ago amid nearly a 300% increase in 24-hour message volumes.

One user said, “For a long time it was a struggle to break into $5.00 again, now we’ve zoomed all the way to $7.80. Amazing. The rerate has finally begun. Imo SLS should easily be trading at double digits based on the information we all have.”

Another user said, “Sellas has to be on every pharma company's radar right now. too many patents expiring.  literally the closest thing to the holy grail of medical research for the last half century -- the cure for cancer.   Bidding War is going to get this EASILY over 20 billion.”

SLS stock has surged 391% over the past year. 

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