SELLAS Life Sciences Reports $18M Net Loss and $138M Cash Reserves for First Half of 2026

SELLAS Life Sciences Group, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2026. The company recorded a net loss of $18.0 million for the first half of 2026, compared to a net loss of $12.4 million during the same period in 2025, reflecting an increase in operating expenses driven by heightened research and development activities. Total operating expenses for the six months ended June 30, 2026, reached $19.9 million, up from $12.9 million in the prior year. The increase was primarily attributed to a $4.3 million rise in research and development costs, which included expenses related to the ongoing clinical trials for its lead product candidate, galinpepimut-S (GPS).

In terms of liquidity, SELLAS reported cash and cash equivalents of approximately $138.3 million as of June 30, 2026, a substantial increase from $71.8 million at the end of 2025. This increase was largely due to the exercise of warrants, which generated approximately $82.9 million in proceeds. The company has also entered into a sales agreement with TD Securities to potentially raise up to $150 million through an at-the-market equity offering program, although no shares have been sold under this agreement to date.

Operationally, SELLAS is advancing its clinical programs, particularly the Phase 3 REGAL study for GPS in acute myeloid leukemia (AML), which has completed enrollment and is awaiting final analysis. The company is also progressing with its second product candidate, SLS009, a CDK9 inhibitor, which has shown promising results in early clinical trials. The FDA has granted Orphan Drug and Fast Track designations for both GPS and SLS009, indicating the potential for expedited development and review processes.

The company’s workforce has expanded, with an increase in employee-related expenses reflecting its growth and ongoing clinical development efforts. As of June 30, 2026, SELLAS had 201.9 million shares outstanding, up from 153.1 million at the end of 2025, indicating a strategic move to bolster its capital base. Looking ahead, SELLAS anticipates continued operating losses as it invests in the development of its product candidates, with management expressing confidence that its current cash reserves will support operations for at least the next twelve months. However, the company may seek additional funding to support its research and development initiatives and prepare for potential commercialization of its therapies.