SELLAS Life Sciences shares are retreating from a recent 52-week high. Traders are taking profits as speculation regarding a potential company buyout cools.
The market is awaiting results from the Phase 3 REGAL trial for the cancer drug candidate galinpepimut-S. The trial has reached 78 of the 80 patient deaths required for its final analysis.
While the company's focus on immuno-oncology offers market potential, high cash burn remains a concern. Reliance on equity financing continues to pose risks for shareholders.