Sellas Life Sciences Group Inc

NASDAQ:SLSUnited States

SELLAS Announces Positive Data from Preclinical Studies Indicating ASXL1 Mutations as Predictor of Response to SLS009 in Solid Cancers

- Preselection Method for Cancers Responding to SLS009: High Efficacy of SLS009 Observed in 67% of ASXL1 Mutated Solid Cancers vs 0% in Non-ASXL1 Mutated Cancers --

SELLAS@lifesciadvisors.com
SELLAS LIFE SCIENCES GROUP, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands, except share and per share data) (Unaudited) Three Months Ended Nine Months Ended September September 30, 30, -------------------------- ---------------------------- 2024 2023 2024 2023 Operating expenses: Research and development $ 4,362 $ 5,813 $ 14,659 $ 18,910 General and administrative 2,967 3,548 9,936 10,782 ---------- ---------- ---------- ---------- Total operating expenses 7,329 9,361 24,595 29,692 ---------- ---------- ---------- ---------- Loss from operations (7,329) (9,361) (24,595) (29,692) Non-operating income: Change in fair value of warrant liability -- -- -- 4 Interest income 221 94 451 484 ---------- ---------- ---------- ---------- Total non-operating income 221 94 451 488 ---------- ---------- ---------- ---------- Net loss $ (7,108) $ (9,267) $ (24,144) $ (29,204) ========== ========== ========== ========== Per share information: Net loss per common share, basic and diluted $ (0.10) $ (0.33) $ (0.42) $ (1.09) ========== ========== ========== ========== Weighted-average common shares outstanding, basic and diluted 68,254,021 28,355,427 56,940,617 26,767,914 ========== ========== ========== ========== SELLAS LIFE SCIENCES GROUP, INC. CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except share and per share data) (Unaudited) September 30, December 31, 2024 2023 --------------- ---------------- ASSETS Current assets: Cash and cash equivalents $ 21,031 $ 2,530 Restricted cash and cash equivalents 100 100 Prepaid expenses and other current assets 2,904 542 ---------- --------- Total current assets 24,035 3,172 Operating lease right-of-use assets 513 858 Goodwill 1,914 1,914 Deposits and other assets 43 275 ---------- --------- Total assets $ 26,505 $ 6,219 ========== ========= LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 4,547 $ 5,639 Accrued expenses and other current liabilities 5,490 7,650 Operating lease liabilities 576 446 ---------- --------- Total current liabilities 10,613 13,735 Operating lease liabilities, non-current -- 460 ---------- --------- Total liabilities 10,613 14,195 ---------- --------- Commitments and contingencies Stockholders' equity (deficit): Common stock, $0.0001 par value; 350,000,000 shares authorized, 64,381,979 and 32,132,890 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 6 3 Additional paid-in capital 257,274 209,265 Accumulated deficit (241,388) (217,244) ---------- --------- Total stockholders' equity (deficit) 15,892 (7,976) ---------- --------- Total liabilities and stockholders' equity (deficit) $ 26,505 $ 6,219 ========== =========