SELLAS Life Sciences Group, Inc. SLS
We are a late-stage clinical biopharmaceutical company focused on the development of novel therapeutics for a broad range of cancer indications. Our product candidates currently include galinpepimut-S, or GPS, a peptide immunotherapy directed against the Wilms tumor 1, or WT1, antigen, and SLS009 (tambiciclib), a highly selective small molecule cyclin-dependent kinase 9, or CDK9, inhibitor.
Galinpepimut-S: Highly Novel and Engineered Immunotherapy Targeting the WT1 Antigen
Our lead product candidate, GPS, is a cancer immunotherapeutic agent licensed from Memorial Sloan Kettering Cancer Center, or MSK, that targets the WT1 protein, which is present in 20 or more cancer types. Based on its mechanism of action as a directly immunizing agent, GPS has potential as a monotherapy or in combination with other immunotherapeutic agents to address a broad spectrum of hematologic, or blood, cancers, and solid tumor indications.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $0 | $1.0M | $7.6M | $1.9M | $0 | — | — | — |
| Cost of revenue | $0 | $0 | $0 | $100.0K | $200.0K | $0 | — | — | — | — |
| Gross profit | — | — | $0 | $900.0K | $7.4M | $1.9M | — | — | — | — |
| R&D | — | — | — | — | $15.7M | $9.3M | $7.3M | $8.8M | $6.1M | $11.4M |
| SG&A | $12.3M | $12.4M | $13.9M | $12.6M | $11.3M | $9.6M | $9.9M | $12.8M | $15.1M | $4.6M |
| Total operating expenses | $28.3M | $31.5M | $37.9M | $43.0M | $32.9M | $18.9M | $20.0M | $31.1M | $23.0M | $31.9M |
| Operating income | -$28.3M | -$31.5M | -$37.9M | -$42.0M | -$25.3M | -$17.0M | -$20.0M | — | -$23.0M | -$16.0M |
| Interest expense | — | — | $525.0K | $317.0K | $6.0K | $26.0K | $118.0K | $266.0K | $462.0K | $1.2M |
| Pre-tax income | -$26.9M | -$30.9M | -$37.3M | -$41.3M | -$20.9M | -$16.8M | -$19.4M | -$29.0M | -$23.5M | -$17.7M |
| Income tax | $0 | $0 | $0 | $0 | $237.0K | $17.0K | $81.0K | $1.4M | $253.0K | $1.0K |
| Net income | -$26.9M | -$30.9M | -$37.3M | -$41.3M | -$20.7M | -$16.8M | -$19.3M | -$27.7M | -$23.8M | -$17.7M |
| EPS, basic | -0.25 | -0.50 | -1.34 | -2.13 | -1.34 | -2.11 | — | — | — | — |
| EPS, diluted | -0.25 | -0.50 | -1.34 | -2.13 | -1.34 | -2.11 | -10.92 | -157.72 | -10.44 | -18.66 |
| Shares, diluted (wtd. avg.) | $109.1M | $61.2M | $27.8M | $19.4M | $15.5M | $8.0M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $71.8M | $13.9M | $2.6M | $17.2M | $21.5M | $35.4M | $7.4M | $5.5M | $12.8M | $6.0M |
| Total current assets | $75.2M | $16.3M | $3.2M | $17.8M | $23.0M | $36.9M | $8.2M | $5.8M | $13.1M | $6.4M |
| Property, plant and equipment | — | — | — | — | — | — | — | — | — | $199.0K |
| Goodwill | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $5.9M |
| Total assets | $78.3M | $19.4M | $6.2M | $20.9M | $26.3M | $46.0M | $16.6M | $16.9M | $33.5M | $6.4M |
| Accounts payable | $2.9M | $3.5M | $5.6M | $3.4M | $2.1M | $4.7M | $3.9M | $3.8M | $11.7M | $840.0K |
| Short-term debt | — | — | — | — | — | — | — | $0 | $8.4M | $16.4M |
| Total current liabilities | $7.0M | $9.5M | $13.7M | $15.5M | $5.0M | $12.3M | $5.3M | $6.0M | $24.6M | $5.8M |
| Long-term debt | — | — | — | — | — | — | — | $0 | $2.6M | — |
| Total liabilities | $7.5M | $10.0M | $14.2M | $16.1M | $5.9M | $18.1M | $10.5M | $11.7M | $31.5M | $11.4M |
| Retained earnings | -$275.0M | -$248.1M | -$217.2M | -$179.9M | -$138.6M | -$117.9M | -$101.1M | -$81.9M | -$54.2M | -$30.4M |
| Total equity | $70.9M | $9.5M | -$8.0M | $4.9M | $20.3M | $28.0M | $6.1M | $5.2M | $2.1M | -$5.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$28.4M | -$35.4M | -$31.4M | -$23.8M | -$26.0M | -$10.4M | -$17.6M | -$30.4M | -$11.0M | -$11.8M |
| Depreciation and amortisation | — | — | — | — | — | — | — | — | — | $3.0K |
| Stock-based compensation | $2.0M | $1.6M | $2.1M | $1.7M | $1.0M | $578.0K | $573.0K | $395.0K | $3.2M | $354.0K |
| Capital expenditure | — | — | — | — | — | — | — | — | — | $6.0K |
| Investing cash flow | — | $0 | -$5.5M | -$4.5M | $0 | — | — | $0 | $12.2M | -$85.0K |
| Financing cash flow | $86.3M | $46.8M | $22.3M | $24.1M | $12.1M | $38.4M | $19.6M | $23.1M | $5.5M | $16.5M |
| Dividends paid | — | — | — | — | — | — | $0 | $487.0K | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-047693.
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