# SELLAS Life Sciences Group, Inc. (SLS)

> Source: Nexqual · https://nexqual.com/SLS · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, SELLAS Life Sciences Group, Inc. (SLS), nexqual.com/SLS" · informational, not investment advice.

**Price:** USD 11.35 (-6.51% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 12.14 · day 11.12–12.37 · 52w 1.39–15.88 · market cap $2.29B · NCM

## Key facts
- Analysts: Buy (mean 1.50 on a 1–5 scale) (2 analysts), mean target USD 32.5 (range 30–35).
- Total return with dividends: 1Y +494.2% vs S&P 500 +14.9%; 5Y +30.2% vs S&P 500 +80.3%.
- Next earnings: 2026-11-11, EPS estimate USD -0.05, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $7.6M | $1.0M | $0K | — | — | — |
| Gross profit | $7.4M | $900K | $0K | — | — | — |
| Operating income | -$25.3M | -$42.0M | -$37.9M | -$31.5M | -$28.3M | -$35.2M |
| Net income | -$20.7M | -$41.3M | -$37.3M | -$30.9M | -$26.9M | -$32.5M |
| EPS (diluted) | -$1.34 | -$2.13 | -$1.34 | -$0.50 | -$0.25 | — |
| Gross margin | 97.4% | 90.0% | — | — | — | — |
| Operating margin | -332.8% | -4195.0% | — | — | — | — |
| Net margin | -272.4% | -4130.1% | — | — | — | — |
| Revenue growth | +300.0% | -86.8% | -100.0% | — | — | — |
| Cash + short-term investments | $21.4M | $17.1M | $2.5M | $13.9M | $71.8M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 16.6x · Earnings yield -1.42%

## Analysts
Consensus Buy (mean 1.50 on a 1–5 scale), 2 analysts; mean target USD 32.5 (low 30, high 35).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +494.2% | +30.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +497.9% | +5.4% |
| Volatility (annualized) | 105.6% | 103.2% |
| Max drawdown | -35.5% (Aug 2026→Oct 2026) | -94.5% (Nov 2021→Jan 2024) |

## Peers (Biotechnology)
BLTE (Belite Bio, Inc) USD 150.27 -1.90% · LGND (Ligand Pharmaceuticals Incorpor) USD 307.82 -2.21% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.14 -3.28% · PRAX (Praxis Precision Medicines, Inc) USD 258.92 +0.96% · IONS (Ionis Pharmaceuticals, Inc.) USD 43.91 -0.81% · TGTX (TG Therapeutics, Inc.) USD 53.16 -0.08%

## More
Full page: https://nexqual.com/SLS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in SLS's own 10-K filed 2026-03-19 (https://www.sec.gov/Archives/edgar/data/1390478/000139047826000003/sls-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Merck (MRK) | "Given the potential immunobiologic and pharmacodynamic synergy between GPS and an immune check-point inhibitor (e.g., PD-1 inhibitor), we entered into a Clinical Trial Collaboration and Supply Agreement with Merck (known…" |
| Partner | Medicines | "In December 2020, we entered into an exclusive license agreement, or the 3D Medicines Agreement, with 3D Medicines Inc., or 3D Medicines, a China-based biopharmaceutical company developing next-generation immuno-oncology…" |
| Competitor | AbbVie (ABBV) | "Principal competitors for AML broadly include companies with currently marketed products, such as AbbVie/Genentech (Venclexta), Pfizer (Mylotarg), Daiichi-Sankyo (Vanflyta), Rigel Pharmaceuticals (Rezlidhia), Syndax Phar…" |
| Competitor | Pfizer (PFE) | "Principal competitors for AML broadly include companies with currently marketed products, such as AbbVie/Genentech (Venclexta), Pfizer (Mylotarg), Daiichi-Sankyo (Vanflyta), Rigel Pharmaceuticals (Rezlidhia), Syndax Phar…" |

## Company outlook (8-K filed 2026-08-11)

- "Topline Data Expected in Q4 2026 – – Strong Preclinical Indications of Efficacy of SLS009 in Advanced Pancreatic Cancer Resistant to RAS inhibitors, Clinical Development Preparations Ongoing - - $138.3 Million in Cash and Cash Equivalents as of June 30, 2026 - NEW YORK, NY, August 11, 2026 -- SELLAS Life Sciences Group, Inc."
- "At the same time, we are making meaningful progress with SLS009 in our ongoing Phase 2 frontline AML study, where dosing continues and enrollment is tracking ahead of industry standards, with topline data expected in the fourth quarter of 2026."
- "Topline data expected in Q4 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.05 | $-0.06 | -9.1% | $0 | 1 |
| Next quarter (ends 2026-12-31) | $-0.05 | $-0.06 | -9.1% | $0 | 1 |
| Current fiscal year (ends 2026-12-31) | $-0.20 | $-0.21 | -4.8% | $0 | 1 |
| Next fiscal year (ends 2027-12-31) | $-0.10 | $-0.15 | -33.3% | $53.1M | 2 |