Sellas Life Sciences bounced back by 12.26 percent on Friday to close at $13.19 apiece, as investors positioned portfolios ahead of a potentially company-defining clinical data release, supported by takeover speculations and growing institutional interest.
The company is expected to report data from the phase 3 study evaluating its Galinpepimut-S (GPS) treatment candidate in patients with acute myeloid leukemia, as soon as it reaches the 80th patient death—a pre-specified event needed to determine whether GPS actually made a meaningful improvement in terms of overall survival, versus those in the placebo group.
In its latest update, Sellas Life Sciences Group Inc. (NASDAQ:SLS) said that the study had already reached its 78th patient death, suggesting the long-awaited readout could be approaching soon.
With the potential catalyst only a few weeks away, investors appeared increasingly willing to load up on positions ahead of the results, which could reshape its growth story once successful.
Photo by Tima Miroshnichenko on Pexels
Takeover Hint
Investor enthusiasm was further supported by speculation that Sellas Life Sciences Group Inc. (NASDAQ:SLS) is preparing for a potential takeover.
Last month, it told the Securities and Exchange Commission that it amended 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.”
Specifically, Sellas Life Sciences Group Inc. (NASDAQ:SLS) said 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 retained by a new owner.
While it did not specifically announce any sale plans, investors interpreted the new employment arrangements as a hint of a potential takeover.
More Institutional Investors Buy In
More institutional investors appear to be buying into shares of Sellas Life Sciences Group Inc. (NASDAQ:SLS).
As of the first quarter of the year, data from Insider Monkey showed that the number of hedge funds with stakes in the company more than doubled to 13 from only 6 in the fourth quarter of 2025.
The funds collectively owned $13.49 million worth of shares in Sellas Life Sciences Group Inc. (NASDAQ:SLS), up from $10.8 million in 2025.
The growing hedge fund interest signaled that more institutional investors are willing to take a slice of the company, even as it remains a high-risk, event-driven investment.
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