SELLAS Life Sciences Group (SLS) Q2 2026 earnings summary

Executive summary

• Lead clinical programs GPS (immunotherapy) and SLS009 (CDK9 inhibitor) advanced, with GPS nearing final efficacy analysis in the Phase 3 REGAL trial for AML and SLS009 progressing in Phase 2 AML studies.

• SLS009 showed strong preclinical efficacy in pancreatic cancer resistant to RAS inhibitors, with plans for further clinical development.

• Ongoing Phase 3 REGAL trial for GPS in AML; final analysis pending after 80 events, with BLA submission planned if results are positive.

• SLS009 advancing in Phase 2 trials for AML, showing promising efficacy and safety, with FDA guidance to proceed to first-line therapy studies.

Financial highlights

• Net loss of $9.6 million for Q2 2026, up from $6.6 million in Q2 2025; net loss of $18.0 million for the first half of 2026, up from $12.4 million year-over-year.

• Operating expenses increased to $10.6 million in Q2 2026 from $6.9 million in Q2 2025, driven by higher R&D and G&A costs.

• Research and development expenses rose to $6.3 million in Q2 2026 from $3.9 million in Q2 2025, mainly due to increased manufacturing and clinical trial costs.

• General and administrative expenses increased to $4.4 million in Q2 2026 from $3.0 million in Q2 2025, driven by higher professional fees and stock-based compensation.

• Cash and cash equivalents totaled $138.3 million as of June 30, 2026, up from $71.8 million at year-end 2025, primarily due to warrant exercises.

Outlook and guidance

• Cash position expected to fund planned operations for at least the next twelve months.

• Anticipates increased R&D expenses as GPS approaches BLA filing and SLS009 advances in clinical trials.

• Final analysis of the Phase 3 REGAL trial for GPS in AML will occur after the 80th event, potentially leading to a BLA submission.

• Topline data from the Phase 2 SLS009 AML trial expected in Q4 2026.

• May seek additional capital through equity, debt, or partnerships to support future operations.