SELLAS Life Sciences Reports Q2 2025 Financial Results with Reduced Net Loss

SELLAS Life Sciences Group, Inc. reported its financial results for the second quarter of 2025, revealing a net loss of $6.6 million, a decrease from a net loss of $7.5 million in the same period last year. For the six months ending June 30, 2025, the company recorded a net loss of $12.4 million, down from $17.0 million in the prior year. Total operating expenses for the second quarter were $6.9 million, a reduction from $7.6 million in the previous year, primarily due to decreased research and development costs, which fell to $3.9 million from $5.2 million. The company’s cash and cash equivalents increased to $25.3 million as of June 30, 2025, compared to $13.9 million at the end of 2024.

The company experienced significant changes in its financial performance compared to the previous fiscal period. Research and development expenses decreased by approximately $3.2 million for the six months ended June 30, 2025, largely due to the completion of enrollment in the REGAL study, a Phase 3 clinical trial for its lead product candidate, galinpepimut-S (GPS). General and administrative expenses for the first half of 2025 also decreased to $5.9 million from $7.0 million, reflecting a one-time severance charge recognized in the prior period.

Strategically, SELLAS has made notable advancements, including the completion of enrollment in the REGAL study, which is pivotal for the potential submission of a Biologics License Application (BLA) to the FDA. The company also entered into a binding arbitration proceeding against 3D Medicines regarding milestone payments under a licensing agreement. Additionally, SELLAS has expanded its product pipeline with SLS009, a CDK9 inhibitor, which is currently undergoing a Phase 2a clinical trial. The company anticipates that the trial will lead to further developments in treating acute myeloid leukemia (AML) and other cancers.

Operationally, SELLAS reported a total of 100.4 million shares outstanding as of June 30, 2025, following a registered direct offering that raised approximately $23.1 million. The company has also seen an increase in its employee headcount, reflecting its ongoing commitment to advancing its clinical programs. Despite these developments, SELLAS continues to face challenges, including the need for additional funding to support its operations and product development, as indicated by its accumulated deficit of $260.5 million.

Looking ahead, SELLAS Life Sciences Group, Inc. expects to continue incurring operating losses and negative cash flows for the foreseeable future. The company is actively exploring various strategies to secure additional financing, which may include public and private placements of equity or debt securities. The successful development and commercialization of its product candidates remain critical to achieving profitability, and the company is focused on advancing its clinical trials and potential partnerships to enhance its market position.