SEELAS Life Sciences (SLS) - 2025 Q3 - Quarterly Results

Financial Performance - SELLAS reported a net loss of $6.8 million for Q3 2025, a decrease from a net loss of $7.1 million in Q3 2024, resulting in a basic and diluted loss per share of $0.06 compared to $0.10 in the prior year[12][19]. - General and administrative expenses for Q3 2025 were $2.9 million, slightly down from $3.0 million in Q3 2024, with total G&A expenses for the nine months ended September 30, 2025, at $8.7 million compared to $9.9 million in the prior year[11][19]. - The total operating expenses for Q3 2025 were $7.1 million, a decrease from $7.3 million in Q3 2024, with total operating expenses for the nine months ended September 30, 2025, at $20.0 million compared to $24.6 million in 2024[19]. Research and Development - Research and development expenses for Q3 2025 were $4.2 million, down from $4.4 million in Q3 2024, with total R&D expenses for the nine months ended September 30, 2025, at $11.3 million compared to $14.7 million for the same period in 2024[10][19]. - Positive Phase 2 data for SLS009 in relapsed or refractory AML has been accepted for presentation at the ASH Annual Meeting in December 2025, with a new trial for first-line AML patients expected to begin in Q1 2026[5][6]. - Preclinical data on SLS009 presented at ESMO 2025 showed significant survival benefits in T-PLL, supporting its therapeutic potential across multiple hematologic malignancies[7]. Financial Position - As of September 30, 2025, cash and cash equivalents totaled approximately $44.3 million, with an additional $29.1 million received from warrant exercises in October 2025[14][9]. - SELLAS received approximately $54.6 million in gross proceeds from warrant exercises in September and October 2025, enhancing its financial position[9]. Clinical Trials - The Phase 3 REGAL trial of GPS is on track, with the final analysis expected by year-end 2025 after reaching 80 events (deaths)[4]. Company Outlook - The company is entering a transformative period of growth and value creation, bolstered by a strong financial foundation and multiple upcoming catalysts[3].