Sellas Life Sciences Group saw short interest in its stock climb to a record 33% of the float as of June 15, according to Koyfin data, while the company amended executive severance agreements in an SEC filing on Thursday. The changes allow CEO Angelos Stergiou to receive eligible severance payments as a lump sum rather than installments, while CFO John Burns and Chief Development Officer Dragan Cicic signed new agreements providing 15 months of base salary, full target annual bonus, and accelerated equity vesting if terminated following a change in control. The biotech company is developing treatments for acute myeloid leukemia, with its Phase 3 Regal trial evaluating Galinpepimut-S approaching a key analysis milestone.
Short Interest Reaches 33% of Float as of June 15
Short interest in SLS climbed to nearly 33% of the float as of June 15, up from 25.5% at the start of April and 28.4% at the beginning of the year, according to Koyfin data. The company has roughly 186 million outstanding shares. SLS shares climbed in pre-market trading following a near 15% surge in the previous session. The stock is on track for a seventh consecutive day of gains and its strongest weekly performance in six weeks. Shares have soared 140% so far this year.
Sellas Amends Executive Severance Agreements in SEC Filing
According to an SEC filing on Thursday, Sellas announced the amendment of CEO Angelos Stergiou's employment agreement to allow eligible severance payments triggered by a change in control to be paid as a single lump sum rather than in installments. CFO John Burns and Chief Development Officer Dragan Cicic signed new severance agreements that provide enhanced benefits if they are terminated following a change in control, including a lump-sum payment equal to 15 months of base salary, their full target annual bonus, and accelerated vesting of unvested equity awards.
Phase 3 Regal Trial Approaches 80-Event Analysis Threshold
The company's Phase 3 Regal trial evaluating Galinpepimut-S in AML patients in remission after relapse is approaching the 80-event (deaths) threshold required for the final overall survival analysis. The company previously reported 72 events as of Dec. 26, 2025.
SLS009 Topline Data Expected in Fourth Quarter 2026
Sellas' second drug candidate, SLS009, has delivered encouraging mid-stage results in relapsed/refractory AML and is now being tested in newly diagnosed patients. Topline data is expected in the fourth quarter of 2026.
FAQ
What changes did Sellas make to executive severance agreements?
Sellas amended CEO Angelos Stergiou's employment agreement to allow lump-sum severance payments triggered by a change in control. CFO John Burns and Chief Development Officer Dragan Cicic signed new agreements providing 15 months of base salary, full target annual bonus, and accelerated equity vesting if terminated following a change in control.
What is the status of Sellas' Phase 3 Regal trial?
The Phase 3 Regal trial evaluating Galinpepimut-S in AML patients is approaching the 80-event threshold required for final overall survival analysis. The company reported 72 events as of Dec. 26, 2025.
When will Sellas release SLS009 topline data?
Sellas expects to release topline data for SLS009 in newly diagnosed AML patients in the fourth quarter of 2026.
