SELLAS Life Sciences Group Announces Exercise of Existing Warrants Held by a Current Institutional Investor for $23.6 Million in Gross Proceeds

Core Points - SELLAS Life Sciences Group, Inc. announced the immediate exercise of warrants to purchase up to 19,685,040 shares of common stock for gross cash proceeds of approximately $23.6 million [1][2] - The investor will receive new unregistered warrants at an exercise price of $1.88, which will be exercisable immediately and will expire in five years and six months [2] - The transaction is expected to close on or about September 12, 2025, subject to customary closing conditions [2] Company Overview - SELLAS is a late-stage clinical biopharmaceutical company focused on developing novel therapies for various cancer indications [6] - The lead product candidate, GPS, targets the WT1 protein present in multiple tumor types and has potential as both a monotherapy and in combination with other therapies [6] - The company is also developing SLS009, a differentiated small molecule CDK9 inhibitor, which has shown a high response rate in AML patients with unfavorable prognostic factors [6]