Virginia Retirement System disclosed SLS and IBRX stakes worth nearly $909,000 combined.
- The $124 billion fund ranks as America’s 15th-largest public or private pension fund.
- Sellas’ Phase 3 Regal trial is two events away from triggering its final analysis.
- ImmunityBio is planning a trial combining Pluvicto with an IL-15-based treatment.
America’s 15th-largest public or private pension fund has disclosed stakes in Sellas Life Sciences (SLS) and ImmunityBio (IBRX), bringing fresh institutional attention to two biotech stocks with major cancer-drug milestones ahead.
So far in August, SLS shares have jumped 41%, while IBRX stock has gained 14%.
Virginia Pension Fund Reveals SLS, IBRX Stakes
Virginia Retirement System reported holding 17,400 shares of SLS and 74,500 shares of IBRX as of June 30, according to Fiscal AI data. The pension system managed $124 billion in net assets as of mid-2025 and serves more than 860,000 active and retired members.
Virginia Retirement System’s SLS stock position was valued at $256,824 at the end of the second quarter, while its IBRX stock holding was worth $652,248. Together, the positions carried a reported value of nearly $909,000.
Other institutions also increased their exposure to Sellas. California State Teachers’ Retirement System raised its stake more than 20-fold to 202,374 shares, while Susquehanna added 1.65 million shares to reach 2.05 million. Jones Financial increased its position to 2.3 million shares, and Wellington Management lifted its holding by 73% to 597,309. Sellas had 176 reported institutional holders.
ImmunityBio had 367 institutional holders. Two Sigma increased its stake by 153% to 11.1 million shares, valued at $97.2 million, while Charles Schwab and CalSTRS raised their positions to 2.89 million and 410,655 shares, respectively. However, D.E. Shaw, Woodline Partners and Bank of America reduced their holdings.
SLS Nears Make-Or-Break Phase 3 Trigger
The institutional disclosures come at a crucial time for Sellas. Its Phase 3 Regal trial of Galinpepimut-S (GPS) in acute myeloid leukemia (AML) has recorded 78 of the 80 events required to trigger the final analysis. Sellas plans to announce when the 80th event occurs before proceeding with the customary database lock, blinded review, statistical analysis, and unblinding.
The study will be considered successful if GPS produces median overall survival of 12.6 months, compared with eight months for the control arm. A positive outcome could support a biologics license application to the Food and Drug Administration. Sellas has entered a clinical quiet period as it prepares for the final analysis.
Sellas is separately advancing SLS009. It has enrolled 28 of a planned 80 patients in a Phase 2 trial involving newly diagnosed AML, with initial results expected in the fourth quarter of 2026.
IBRX’s Major Cancer-Drug Catalysts
ImmunityBio, meanwhile, is exploring a combination of targeted radiation and immune activation. Founder Patrick Soon-Shiong recently said on X that a trial combining Novartis’ Pluvicto with an IL-15-based treatment is being planned. Pluvicto uses lutetium-177, or Lu-177, to deliver radiation directly to cancer cells, limiting damage to surrounding healthy tissue.
Anktiva, ImmunityBio’s flagship drug, is an IL-15-based immune activator. Soon-Shiong did not specify whether the proposed trial would use Anktiva or another IL-15 treatment, and the company has not disclosed its design or timing.
ImmunityBio is also awaiting an FDA decision on an application to expand Anktiva’s U.S. label to papillary-only bladder cancer patients. The agency is expected to act by Jan.6, 2027. Supporting data showed that 58% of 80 patients remained disease-free after one year, while 83% avoided bladder-removal surgery at three years.
How Do Retail Traders Feel About SLS And IBRX?
On Stocktwits, retail sentiment was ‘bullish’ for SLS amid ‘high’ message volume, while sentiment for IBRX was ‘neutral’ amid ‘normal’ chatter.
Over the past year, SLS shares have surged 637%, while IBRX stock has climbed 264%.
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