SELLAS Life Sciences Group, Inc.

Listed Company

SLSCIK 0001390478NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-26.90M

Total Assets

$78.34M

Equity

$70.87M

Shares Out

179.58M

Op. Cash Flow

$-28.40M

Business

SELLAS Life Sciences Group, Inc. is a late-stage clinical biopharmaceutical company developing novel therapeutics focused on oncology. It develops galinpepimut‑S (GPS), a WT1‑targeting peptide immunotherapy, and SLS009, a highly selective CDK9 small‑molecule inhibitor. The company’s operations center on clinical development programs, strategic license and collaboration agreements (including with Memorial Sloan Kettering, GenFleet and 3D Medicines), and outsourced manufacturing and CMO relationships. SELLAS targets markets in North America, Europe and Asia, with Greater China rights licensed to a regional partner and distribution primarily through third‑party channels.

Summary from filing dated 2025-03-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	16	19	24	20	16
General and administrative	12	12	14	13	11
Total operating expenses	28	32	38	43	33
Loss from operations	−28	−32	−38	−42	−25
Interest income	1	632,000	525,000	—	—
Total non-operating income	1	632,000	529,000	649,000	4
Net loss	−27	−31	−37	−41	−21
Net loss per common share, basic (in dollars per share)	−0.25	−0.5	−1.34	−2.13	−1.34
Net loss per common share, diluted (in dollars per share)	−0.25	−0.5	−1.34	−2.13	−1.34
Weighted-average common shares outstanding, basic (in shares)	109	61	28	19	15
Weighted-average common shares outstanding, diluted (in shares)	109	61	28	19	15

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-09-30	FY 2024 2024-12-31	FY 2024 2024-09-30	FY 2023 2023-12-31
Cash and cash equivalents	72	—	14	—	3
Restricted cash and cash equivalents	100,000	—	100,000	—	100,000
Prepaid expenses and other current assets	3	—	2	—	542,000
Total current assets	75	—	16	—	3
Operating lease right-of-use assets	963,000	500,000	925,000	500,000	858,000
Goodwill	2	—	2	—	2
Deposits and other assets	257,000	—	266,000	—	275,000
Total assets	78	—	19	—	6
Accounts payable	3	—	4	—	6
Accrued expenses and other current liabilities	4	—	5	—	8
Operating lease liabilities	544,000	—	544,000	—	446,000
Total current liabilities	7	—	10	—	14
Operating lease liabilities, non-current	457,000	—	457,000	—	460,000
Total liabilities	7	—	10	—	14
Commitments and contingencies (Note 6)	—	—	—	—	—
Common stock, $0.0001 par value; 350,000,000 shares authorized, 153,103,459 and 73,977,459 shares issued and outstanding at December 31, 2025 and 2024, respectively	15,000	—	7,000	—	3,000
Additional paid-in capital	346	—	258	—	209
Accumulated deficit	−275	—	−248	—	−217
Total stockholders equity	71	—	9	—	−8
Total liabilities and stockholders equity	78	—	19	—	6

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Non-cash stock-based compensation	2	2	2	2	1
Non-cash lease expense	597,000	561,000	495,000	457,000	—
Prepaid expenses and other assets	−968,000	−2	113,000	1	−1
Accounts payable	−535,000	−2	2	1	−3
Accrued expenses and other current liabilities	−2	−2	1	4	727,000
Operating lease liabilities	−635,000	−533,000	−518,000	−471,000	−183,000
Net cash used in operating activities	−28	−35	−31	−24	−26
Proceeds from warrant inducements, net of issuance costs	51	0	—	—	—
Proceeds from issuance of common stock, common stock warrants, and pre-funded warrants, net of issuance costs	23	46	—	—	—
Proceeds from the exercise of common stock warrants and pre-funded warrants	13	560,000	14,000	0	3
Proceeds from employee stock plan purchases	112,000	98,000	107,000	85,000	0
Tax withholding on vesting of restricted stock units	−527,000	−64,000	−31,000	0	—
Net cash provided by financing activities	86	47	22	24	12
Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents	58	11	−15	−4	−14
Cash received during the year for interest	1	632,000	525,000	317,000	6,000
Fair value of common stock warrants issued in warrant inducements	67	0	—	—	—
Warrant modifications recorded in stockholders' equity	0	725,000	0	—	—
Increase in operating lease right of use assets and current and non-current operating lease liabilities	526,000	526,000	368,000	449,000	0
Offering costs in accounts payable and accrued expenses	17,000	0	103,000	0	—

Filings

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