US LNG exports surge but will buyers in China turn up?
NEW YORK - SELLAS Life Sciences Group, Inc. (NASDAQ: SLS), a biopharmaceutical company with a market capitalization of $155 million engaged in developing cancer therapies, has presented promising preclinical data for its drug SLS009 at the American Society of Clinical Oncology (ASCO) Annual Meeting. The company’s stock has shown strong momentum, gaining over 47% in the past six months, according to InvestingPro data. The presentation, given Monday in Chicago, highlighted the drug’s efficacy in colorectal cancer cell lines with ASXL1 mutations.
According to the data, SLS009, also known as tambiciclib, showed potent anti-proliferative activity, particularly in cell lines with ASXL1 mutations. Notably, 50% of these mutant cell lines responded with an inhibitory concentration (IC50) of less than 100 nanomoles (nM), a measure of the drug’s potency. This response rate was significantly higher than that of cell lines without the mutation. Moreover, all cell lines with ASXL1 frameshift mutations in a specific protein region were responsive to SLS009 treatment.
Dr. Dragan Cicic, Chief Development Officer at SELLAS, remarked on the potential for SLS009 to selectively target ASXL1-driven tumors at concentrations below the safety threshold, suggesting a broad therapeutic window. He also suggested that ASXL1 mutation status could be a biomarker for response to the drug, potentially improving patient selection and outcomes. InvestingPro analysis shows the company maintains a healthy financial position with more cash than debt on its balance sheet and a current ratio of 4.64, indicating strong liquidity to support its research programs.
SELLAS is currently evaluating SLS009 in a Phase 2 study in combination with other drugs for treating acute myeloid leukemia (AML) patients with ASXL1 mutations. The study also aims to identify biomarkers to enrich future trials.
The company’s lead product candidate, GPS, targets the WT1 protein and is in development for various cancer types. SLS009 is being positioned as a potential first-in-class CDK9 inhibitor with a high response rate, especially in AML patients with poor prognostic factors, including the ASXL1 mutation. Analyst price targets for SELLAS range from $4 to $7.50 per share, reflecting confidence in the company’s pipeline. For deeper insights into SELLAS’s financial health and growth prospects, including 8 additional ProTips and comprehensive financial metrics, visit InvestingPro.
The information in this article is based on a press release statement from SELLAS Life Sciences Group, Inc.
In other recent news, SELLAS Life Sciences Group, Inc. has initiated treatment for the first pediatric patient in a Phase 2 trial of SLS009 for relapsed/refractory acute myeloid leukemia (AML). The trial, which includes pediatric patients, aims to evaluate the safety, efficacy, and tolerability of SLS009, a CDK9 inhibitor, in combination with venetoclax and azacitidine. Notably, SELLAS received the FDA Rare Pediatric Disease Designation for SLS009, potentially paving the way for a Priority Review Voucher if the drug is approved. Additionally, SELLAS presented preclinical data at the American Association for Cancer Research, indicating that SLS009 could significantly reduce TP53-mutated leukemia cells. The ongoing Phase 2 trials have shown promising results, with a median overall survival of 8.8 months among relapsed or refractory AML patients. Furthermore, SELLAS reported that the trial’s Cohort 3 results demonstrated a 67% overall response rate in patients with AML-myelodysplasia-related changes, exceeding historical benchmarks. The company continues to explore the potential of SLS009, emphasizing its commitment to developing novel cancer therapeutics. These developments reflect SELLAS’s ongoing efforts in advancing treatment options for AML.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.