Sellas Life Sciences Stock In Spotlight After Institutional Investor Exercises Existing Warrants

Sellas Life Sciences Group, Inc. (SLS) on Thursday announced that an institutional investor has exercised the warrants it held to purchase up to 19.69 million shares of the company's common stock for gross cash proceeds of approximately $23.6 million. The warrants were previously issued in January 2025.

In consideration for the immediate exercise of the warrants in full, the investor will receive new unregistered warrants in a private placement to purchase up to 19.69 million shares of its common stock at an exercise price of $1.88. These warrants will be exercisable immediately and will expire five years and six months from the date of issuance, the company said.

The closing of the transaction is expected to occur on or about Sept. 12, 2025, subject to satisfaction of customary closing conditions.

Sellas is a late-stage clinical biopharmaceutical company focused on developing novel therapeutics for cancer. Its lead product candidate, called GPS, is licensed from Memorial Sloan Kettering Cancer Center and targets a protein present in an array of tumor types. The company is also developing SLS009 in the treatment of Acute Myeloid Leukemia.  

On Stocktwits, retail sentiment around SLS stock jumped from 'neutral' to 'bullish' territory over the past 24 hours, while message volume stayed within 'normal' levels. Shares of the company were fell over 2% at the time of writing.

A Stocktwits user sounded skeptical about the new warrants.

Another user noted they have added to their position.

SLS stock is up 76% this year and approximately 39% over the past 12 months. 

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