SEELAS Life Sciences (US:SLS)2025-03-20 20:07Financial Performance - SELLAS reported a net loss of $30.9 million for the year ended December 31, 2024, compared to a net loss of $37.3 million for 2023, representing a 17.5% improvement [13]. - The total operating expenses for 2024 were $31.5 million, down from $37.9 million in 2023, reflecting a decrease of 16.8% [19]. - As of December 31, 2024, cash and cash equivalents totaled approximately $13.9 million, up from $2.5 million in 2023 [14]. - SELLAS raised $25 million in gross proceeds from a registered direct offering in January 2025, strengthening its financial position [8]. Research and Development - Research and development expenses decreased to $19.1 million in 2024 from $24.0 million in 2023, a reduction of 20.4% primarily due to lower clinical trial and manufacturing costs [11]. - SELLAS received multiple regulatory designations in 2024, including three FDA Rare Pediatric Disease Designations and one FDA Fast Track Designation for its therapies [10]. - The company completed enrollment in the Phase 2a trial of SLS009 in r/r AML ahead of schedule, enrolling 30 patients across five centers in the US [9]. Clinical Outcomes - The overall response rate (ORR) for SLS009 in AML patients with myelodysplasia-related changes was 56%, exceeding the pre-specified target ORR of 33% [4]. - The median overall survival (mOS) for SLS009 in AML patients has not been reached but exceeds 7.7 months, compared to a historical mOS of approximately 2.5 months [9]. - The interim analysis of the Phase 3 REGAL trial of GPS in AML indicated a median survival of over 13.5 months, significantly higher than the historical median survival of 6 months for conventional therapy [5].