SLS Stokes Retail Anticipation For Breakout Rally — What’s Driving The Interest?

• The ongoing GPS trial is an overall survival study and final analysis is expected once 80 deaths have occurred.
• As of Dec. 26, 72 deaths have occurred, the company said earlier, highlighting that it had previously expected 80 patient deaths to occur by December end.
• Maxim analyst Jason McCarthy previously noted that delays in an event-driven trial like SELLAS’ could be suggestive of extended survival benefit from GPS.

Shares of Sellas Life Sciences (SLS) garnered the spotlight on Stocktwits on Friday as retail traders contemplated the company’s upcoming results from its late-stage trial for Galinpepimut-S (GPS).  

SELLAS is currently evaluating Galinpepimut-S (GPS) as a potential maintenance therapy in patients with Acute Myeloid Leukemia who have achieved complete remission following second-line salvage therapy.

AML is a fast-growing cancer of the blood and bone marrow where immature white blood cells build up, crowding out healthy cells, leading to fatigue, infections, and bleeding.

How Did Stocktwits Users React?

A Stocktwits user expressed optimism for data from the trial spurring a rally. “Till then it’s the accumulation game,” he said.

Another opined that the GPS will be worth over $180/share to big pharma companies looking to buy Sellas.

Another user opined that now is the time to buy more shares of the company.

Overall, retail sentiment around SLS stock stayed within the ‘extremely bullish’ territory over the past 24 hours, while message volume remained at ‘high’ levels. According to Stocktwits data, retail chatter around the stock has increased by about 453% over the past 90 days.

The GPS Trial

The ongoing GPS trial is an overall survival study and final analysis is expected once 80 deaths have occurred. As of Dec. 26, 72 deaths have occurred, the company said earlier, highlighting that it had previously expected 80 patient deaths to occur by December end.

“While the 80th event has not yet occurred, and we remain fully blinded, every passing month may increase the probability of a successful study as highlighted by key opinion leaders in our recent R&D event. Conclusive data will follow the unblinding and analyses of the study results,” SELLAS CEO Angelos Stergiou then said.

Maxim analyst Jason McCarthy then noted that delays in an event-driven trial like SELLAS’ could be suggestive of extended survival benefit from GPS.

According to data from Koyfin, all three of the analysts covering SELLAS rate it ‘Buy’ or higher. The stock has an average price target of $6.83, hinting at further potential upside.

SLS shares have more than quadrupled over the past 12 months.

Read More: Why Are US Banks Seeing Heavy Selloffs Today?

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