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SELLAS Life Sciences Highlights 2020 Business and Clinical Progress and 2021 Milestones
- Phase 3 REGAL Study of Galinpepimut-S (GPS) in Acute Myeloid Leukemia (AML) Patients Underway in United States and Europe -
- License Agreement with 3D Medicines for Development and Commercialization of GPS in China Initiates Commercialization Strategy for GPS -
- Balance Sheet Significantly Strengthened in 2020 with Preliminary and Unaudited Cash and Cash Equivalents of $35.3 Million as of December 31, 2020 -
NEW YORK, January 14, 2021 (GLOBE NEWSWIRE) -- SELLAS Life Sciences Group, Inc. (Nasdaq: SLS) (“SELLAS” or the “Company”), a late-stage clinical biopharmaceutical company focused on the development of novel cancer immunotherapies for a broad range of cancer indications, today highlighted its business and clinical progress in 2020 and expected 2021 milestones.
“2020 was a transformative year for SELLAS as we commenced the pivotal Phase 3 REGAL study of GPS in patients with AML who have achieved complete remission after second-line anti-leukemic therapy (CR2) in the United States and Europe and also announced important clinical data in the same patient cohort from our completed Phase 2 study showing a median overall survival of 21 months vs. 5.4 months in favor of patients who received GPS, with a p-value of 0.02. We are also intrigued by the recently announced initial data from two studies of GPS in combination with checkpoint inhibitors in ovarian and malignant pleural mesothelioma indications, and we look forward to providing further data from these studies in the first half of 2021. We were also pleased to present last month at the 2020 San Antonio Breast Cancer Symposium positive final data with up to 6 months follow-up from the randomized Phase 2 trial (the VADIS study) of nelipepimut-S (NPS) in combination with granulocyte-macrophage colony-stimulating factor (GM-CSF) in women with ductal carcinoma in-situ of the breast showing immune stimulation augmented by +1,300% at 6-months post-NPS treatment and a statistically significant difference of duration of immune response of NPS vs. control with a p-value of 0.000094,” stated Angelos Stergiou, MD, ScD h.c, President and Chief Executive Officer of SELLAS.
“Additionally, we began preparations for the commercialization of GPS, assuming we achieve positive data from the REGAL study, with a collaboration with 3D Medicines Inc. for the development and commercialization of GPS in Greater China which we announced at the end of 2020. This licensing transaction with 3D Medicines for GPS has been ranked by PharmaCube, a leading Chinese database, as one of the top ten life sciences licensing transactions in China in 2020 in terms of the total financial consideration,” commented Dr. Stergiou.
“Importantly, we strengthened our balance sheet in 2020 with gross proceeds of approximately $47.9 million from the sale of securities, exercise of warrants, and the upfront payment from 3D Medicines and we ended the year with approximately $35.3 million in cash and cash equivalents. The proceeds from these transactions will significantly support the GPS clinical programs,” added Dr. Stergiou.
The following information was filed by Sellas Life Sciences Group, Inc. (SLS) on Thursday, January 14, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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