Sellas shares reached a swing high of $15.88 in late June before tumbling 42% to a July low of $9.19.
- According to Koyfin data, around 27.2% of its shares are currently held short, the lowest level since mid-April.
- Sellas is developing a separate AML drug, with Alliance Global recently stating that the therapy appears to be leading the ‘CDK9 race.’
- Currently, Sellas’ GPS study has recorded 78 of the 80 events required to trigger the final analysis.
Shares of Sellas Life Sciences ($SLS) fell about 9% on Monday as traders watched whether the stock could break through the $15.45 to $15.88 resistance zone ahead of its major acute myeloid leukemia trial readout.
The stock reached a swing high of $15.88 in late June before tumbling 42% to a July low of $9.19. It then rebounded 53% to close at $15.46 on Friday.
According to Koyfin data, around 27.2% of its shares are currently held short, the lowest level since mid-April. Sellas has roughly 202 million outstanding shares.
Retail Remains ‘Extremely Bullish’ On SLS
Despite the sell-off, retail sentiment for SLS on Stocktwits remained in the ‘extremely bullish’ territory over the past 24 hours.
One user said the stock will eventually break its resistance at $15.67.
View this Stocktwits post
Regal Trial Remains Primary Catalyst
Investors are awaiting the final analysis of Sellas’ Phase 3 Regal study, which is testing Galinpepimut-S (GPS) as a treatment for AML patients in second complete remission.
Sellas will consider the trial successful if patients receiving GPS achieve a median overall survival of 12.6 months, compared with eight months for the control group. The study has recorded 78 of the 80 events (deaths) required to trigger the final analysis.
Sellas’ other experimental AML drug, SLS009, has also been on the radar with Alliance Global recently stating that the therapy appears to lead the ‘CDK9 race’ and could be used to treat additional cancers. SLS009 blocks cyclin-dependent kinase 9, or CDK9, a protein that helps cancer cells grow and survive.
The stock is up nearly 230% so far in 2026.
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