SEELAS Life Sciences (US:SLS)2025-05-13 20:07Clinical Trial Results - SLS009 demonstrated a median overall survival (mOS) of 8.9 months in AML-MRC patients and 8.8 months in all relapsed or refractory patients, significantly exceeding the historical benchmark of 2.5 months[3] - The ongoing Phase 2 trial of SLS009 achieved an overall response rate (ORR) of 67% in AML-MRC patients and 46% in all evaluable patients, surpassing the targeted 20% ORR[3] - The final analysis of the Phase 3 REGAL trial of GPS in AML is anticipated later in 2025, with preliminary signals of effectiveness noted in the interim analysis[7] - SLS009 showed promising efficacy in pediatric acute lymphoblastic leukemia (ALL) xenograft models, with median survival tripled compared to the control arm[9] - The company plans to present further data on SLS009 at the ASCO 2025 conference, focusing on its efficacy in ASXL1-mutated colorectal cancer[6] Financial Performance - As of March 31, 2025, SELLAS reported cash and cash equivalents of approximately $28.4 million, with an additional $4.0 million received from warrant exercises in April 2025[5][14] - Research and development expenses for Q1 2025 were $3.2 million, a decrease of $1.9 million compared to $5.1 million in Q1 2024, primarily due to reduced clinical trial expenses[11] - General and administrative expenses for Q1 2025 were $2.9 million, down from $4.5 million in Q1 2024, reflecting a decrease in personnel-related expenses and professional fees[13] - The net loss for Q1 2025 was $5.8 million, or a loss per share of $0.07, compared to a net loss of $9.6 million, or $0.21 per share, in Q1 2024[14] Fundraising Activities - SELLAS raised $25 million in gross proceeds from a registered direct offering, which will be used for working capital and potential acquisitions[10]