5 Stocks Investors Are Chasing Right Now

2. SELLAS Life Sciences Group Inc. (NASDAQ:SLS)

SELLAS Life Sciences extended its winning streak to an 8th straight session on Monday to soar to a new record high, as investors resumed buying positions after hinting at a potential takeover.

In intra-day trading, the stock rocketed to a record high of $15.67 before trimming gains to end the session just up by 24.70 percent at $15.45 apiece.

In a regulatory filing last week, Sellas Life Sciences Group Inc. (NASDAQ:SLS) announced changes to its employment and severance agreements with three of its executive members, namely President and CEO Angelos Stergiou, Chief Financial Officer John Burns, and Chief Development Officer Dragan Cicic, under which they would receive lump-sum payment benefits in case of a “change of control.”

Sellas Life Sciences Group Inc. (NASDAQ:SLS) noted that Burns and Cicic are set to receive lump-sum payments equal to 15 months of their base salary, target bonus for the year of termination, and immediate vesting of unvested shares, among others, in case they are not absorbed by new company owners.

Investors believed that the changes were in preparation for a potential takeover, as the company nears the release of the phase 3 results of its therapy candidate for acute myeloid leukemia (AML).

Last month, Sellas Life Sciences Group Inc. (NASDAQ:SLS) said that it would provide updates to the late-stage study as soon as it reaches the study’s 80th patient death, a pre-determined event it deemed enough to analyze results on whether or not its Galinpepimut-S (GPS) treatment candidate made a meaningful improvement to patients versus those in the placebo group.

As of last month, the company had 78th patient deaths.