SLS Stock Gains Momentum: NVDA, MSFT Investor Loads Up Ahead Of AML Trial Milestone Trigger

• Commonwealth Equity Services increased its stake by 32%, adding 9,226 shares worth $162,730.
• CEO Angelos Stergiou reaffirmed confidence in the trial, saying his conviction in its commercial potential remains “as steadfast today as it was day 1.”
• Sellas is also seeking shareholder approval to expand its equity incentive plan by 20 million shares.

Shares of Sellas Life Sciences Group, Inc. (SLS) came into focus on early Tuesday after a portfolio manager, known for backing several “Magnificent Seven” stocks, increased its stake in the cancer drugmaker ahead of a survival-event trigger in its Phase 3 acute myeloid leukemia (AML) program.

SLS stock jumped over 9% on Monday amid rising hopes around the database-lock milestone for Sellas’ Regal study, which could unlock topline survival data from its lead immunotherapy candidate, GPS.

SLS Draws Fresh Institutional Interest

On Monday, Commonwealth Equity Services increased its stake by 32%, adding 9,226 shares to bring its total holdings to 38,470 shares valued at about $162,730 as of March 31. The boost in stake places Sellas among its other heavyweight healthcare bets, including Eli Lilly, Pfizer, and UnitedHealth.

Among its larger portfolio, Sellas sits among its “Magnificent Seven” allocations, including Apple, Nvidia, Microsoft and Amazon.

Recently, BlackRock also disclosed ownership of 12.1 million shares, representing 6.8% of Sellas’ shares. Additionally, Dagco raised its position by 78% to 1.03 million shares valued at $4.35 million, making Sellas its second-largest allocation alongside healthcare holdings such as Merck, Thermo Fisher Scientific and Johnson & Johnson.

CEO Reaffirms Confidence In Sellas’ AML Trial

The increase in stake comes after Sellas CEO Angelos Stergiou said late Sunday that his confidence in the Regal study’s commercial potential remains unchanged despite the trial remaining blinded. “My conviction in the REGAL trial’s prospects and ultimate commercial potential remains as steadfast today as it was day 1,” he said.

The ongoing event-driven Phase 3 Regal study is evaluating GPS in patients whose acute myeloid leukemia returned but later entered remission following additional therapy. Final analysis is expected once 80 overall-survival events are recorded, which will trigger database lock, statistical analysis and unblinding. The company previously reported 72 survival events as of Dec. 26, bringing the study closer to the required threshold. Stergiou previously said that slower accumulation of survival events in oncology trials can sometimes indicate patients are living longer than initially expected.

Beyond the Regal program, Stergiou also said investors should expect updates and topline data readouts from ongoing Phase 2 studies of the company’s CDK9 inhibitor SLS009 this year. 

Sellas Proposes 20M Share Reserve Increase 

Alongside pipeline progress, Sellas is seeking shareholder approval to expand its share reserve under its 2023 Amended and Restated Equity Incentive Plan by 20 million shares.

The company said that only 7,991 shares are available for future awards under the existing plan as of mid-April. The approval would allow a previously approved grant of 1.1 million restricted stock units to Stergiou to take effect. If rejected, the award would automatically be canceled, and alternative compensation arrangements may be required.

How Do Retail Traders Feel About SLS?

On Stocktwits, retail sentiment for SLS was ‘bullish’ amid ‘high’ message volume.

One user said, “Far more important than Blackrock or Vanguard is the fact that private wealth and family offices have been actively buying and hoarding shares. Lot of money in that segment. Careful but patient money.”

Another user said, “The CEO must have already discussed this 20 million shares with huge partners. It wil pass. Retail is just making noise. The real players like blackrock will surely approve.”

SLS stock has surged nearly 250% over the past year. 

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