Cancer immunotherapy company Sellas Life Sciences Group Inc SLS announced Tuesday that its board is conducting a review of strategic options in a bid to maximize shareholder value.
What Happened
Sellas said the strategic options it is weighing include a sale; business combination; merger or reverse merger with another company; strategic investment/financing; or a funded collaboration or partnership that will allow it to advance the development of its lead product candidates galinpepimut-S, or GPS, and nelipepimut-S, or NPS.
The company said it has roped in Cantor Fitzgerald to assist in the review process.
Why It's Important
Sellas is planning a Phase 3 registrational study for GPS monotherapy in treating acute myeloid leukemia, or AML. The FDA has already reviewed the late-stage study protocol.
Sellas also initiated a Phase 1/2 prospective multi-arm, open-label, multi-institutional U.S.-only clinical study of GPS in combination with Merck & Co., Inc. MRK's Keytruda for multiple cancers, including AML; ovarian cancer; triple-negative breast cancer, or TNBC; small cell lung cancer, or SCLC; and colorectal cancer.
Sellas' other lead asset NPS is being developed for TNBC, and the company is in discussions with the FDA regarding the design of a Phase 3 registrational trial.
At the time of the release of its third-quarter results, Sellas said it had unrestricted cash and cash equivalents totaling $10 million, not including a $6.6-million payment related to the settlement of litigation with JGB in November 2018.
Sellas shares were up 3.52 percent at $1.47 at the time of publication Tuesday.
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