SLS Part II – Follow-up: from “discounted entry” to early re-rating (and we are still early)
SELLAS is undergoing a structural re-rating driven by clinical trial math, not hype. The Phase 3 REGAL trial is showing prolonged survival indicators (72/80 events with median OS exceeding 13.5 months in a disease with historical 6-8 month survival), while the CDK9 inhibitor SLS009 provides a second value driver. The platform oncology company transition, combined with strong cash position extending to 2027, positions SLS for significant upside as catalysts converge.