Jason McCarthy, an analyst from Maxim Group, maintained the Buy rating on SELLAS Life Sciences Group (SLS – Research Report). The associated price target remains the same with $4.00.
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Jason McCarthy has given his Buy rating due to a combination of factors surrounding the promising developments in SELLAS Life Sciences Group’s research. The company recently announced positive preclinical data for their drug SLS009 in ASXL1-mutated colorectal cancer, which has shown encouraging efficacy signals. This builds on previous results in hematologic settings, suggesting potential for SLS009 in treating ASXL1-mutated solid tumors as well.
Additionally, the anticipation of top-line data from ongoing studies, including a Phase 2a study in combination with venetoclax and azacitidine in relapsed/refractory acute myeloid leukemia (AML), is a significant catalyst for the stock. The expected release of Phase 3 top-line data for galinpepimut-S (GPS) in AML further supports the potential for positive developments. These factors, combined with the emerging significance of CDK9 as a cancer target and SLS009’s high selectivity and lower toxicity, contribute to the Buy rating.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SLS in relation to earlier this year.