SELLAS Life Sciences Group (SLS) AI Stock Analysis

• Market Cap: $549.83M
• Dividend Yield: N/A
• Average Volume (3M): 9.96M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.55
• Revenue Growth: N/A
• EPS Growth: 59.04%
• Country: US
• Employees: 15
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.06
• Shares Outstanding: 142,442,250
• 10 Day Avg. Volume: 17,929,876
• 30 Day Avg. Volume: 9,962,436
• PEG Ratio: 0.31
• Price to Book (P/B): 67.25
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -17.98
• Enterprise Value/Market Cap: 0.24
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -4.55
• 1Y Price Target: $7.25
• Price Target Upside: 279.58% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -0.29
• Revenue Forecast (FY): $36.13M

• Rating: 52 Neutral
• Price Target: $4.00 ▲(109.42% Upside)

The score is held down primarily by weak financial performance (minimal revenue, ongoing losses, and sustained cash burn) and a loss-making valuation profile (negative P/E, no dividend). Offsetting factors include strong technical momentum and a recent financing event that improves near-term liquidity, albeit with dilution risk.

Positive Factors

Low leverage

Low financial leverage reduces solvency risk during multi-year clinical development. With limited debt service requirements, management can allocate capital to R&D and trial execution without immediate refinancing pressure, improving the firm's ability to sustain programs through longer development timelines.

Recent capital infusion

The $26.5M cash inflow materially extends near-term runway and funds ongoing clinical activities, lowering the urgency for immediate emergency financings. That improves probability of advancing trials on plan and reduces short-term execution risk tied to funding gaps.

Focused immunotherapy pipeline

A focused pipeline of antigen-targeted peptide immunotherapies (WT1, HER2) creates clear product differentiation and partnership appeal. If clinical proof emerges, these proprietary assets offer durable licensing or commercialization pathways that underpin long-term value for a clinical-stage biotech.

Negative Factors

Persistent cash burn

Consistently negative operating and free cash flow across all reported periods implies structural funding needs. This forces recurring external financing, which can disrupt R&D timelines, increase dilution risk, and constrain strategic optionality over the medium term.

Ongoing losses and minimal revenue

Near-zero and volatile revenue combined with sustained large losses means the business lacks internal cash generation to fund development. Long lead times to commercialization make the company heavily dependent on trial success and outside capital, raising execution and survival risk.

Dilution and shareholder value pressure

Recent warrant exercises and prior inducement transactions materially increased share count, diluting existing holders. Repeated equity reliance signals structural dependence on dilutive financings, which erodes per-share economics and can complicate attracting long-term investors.

SELLAS Life Sciences Group Business Overview & Revenue Model

Company Description

SELLAS Life Sciences Group, Inc., a late-stage biopharmaceutical company, focuses on the development of novel cancer immunotherapies for various cancer indications in the United States. Its lead product candidate is galinpepimut-S (GPS), a cancer immunotherapeutic agent that targets Wilms tumor 1, which is in Phase III clinical trials for the treatment of acute myeloid leukemia; and in Phase 1/2 clinical trials for the treatment for ovarian cancer. The company also develops nelipepimut-S, a cancer immunotherapy that targets human epidermal growth factor receptor 2, which is in Phase 2b clinical trials for the treatment of early-stage breast cancer. It has a strategic collaboration with Merck & Co., Inc. to evaluate GPS as it is administered in combination with PD1 blocker pembrolizumab in a Phase 1/2 clinical trial enrolling patients in up to five cancer indications, including hematologic malignancies and solid tumors. The company was founded in 2012 and is headquartered in New York, New York.

How the Company Makes Money

SELLAS Life Sciences Group makes money primarily through the development and commercialization of its proprietary cancer immunotherapy products. Revenue streams include licensing agreements, strategic partnerships, and collaborations with other biopharmaceutical companies, which often involve upfront payments, milestone payments, and royalties on sales of commercialized products. The company may also receive government grants or funding from research institutions to support its clinical trials and research activities. Additionally, SELLAS might generate income through potential product sales if its therapies receive regulatory approval.

SELLAS Life Sciences Group Financial Statement Overview

Summary

SELLAS Life Sciences Group is facing significant financial challenges, with ongoing losses and negative cash flow trends. The inconsistency in revenue generation and negative profitability metrics indicate operational issues. The balance sheet shows moderate leverage but deteriorating equity, raising concerns about financial stability. The company's reliance on external financing highlights cash flow sustainability risks.

Income Statement

The company has shown inconsistent revenue with zero revenue in the latest period. Gross profit margin and all other margins are negative, indicating significant operational challenges. The net loss has been fluctuating, but the consistent negative EBIT and EBITDA margins highlight ongoing difficulties in achieving profitability.

Balance Sheet

The company's debt-to-equity ratio is relatively low, indicating moderate leverage. However, the negative stockholders' equity in the recent period poses a concern. The equity ratio has deteriorated, reflecting potential financial instability. Overall, the balance sheet reflects a high-risk financial position.

Cash Flow

Operating cash flow is consistently negative, and the free cash flow has been declining, indicating cash flow challenges. Although financing cash flow has been positive, largely due to external funding, reliance on external financing could be unsustainable in the long term.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	1.00M	7.60M	1.90M
Gross Profit	0.00	0.00	0.00	900.00K	7.40M	1.90M
EBITDA	-28.75M	632.00K	529.00K	-31.49M	-18.32M	-16.40M
Net Income	-25.94M	-30.88M	-37.34M	-41.30M	-20.70M	-16.76M
Balance Sheet
Total Assets	51.55M	19.43M	6.22M	20.94M	26.43M	46.05M
Cash, Cash Equivalents and Short-Term Investments	44.42M	13.89M	2.53M	17.13M	21.45M	35.30M
Total Debt	599.00K	1.00M	906.00K	945.00K	808.00K	991.00K
Total Liabilities	5.92M	9.97M	14.20M	16.09M	6.08M	18.09M
Stockholders Equity	45.63M	9.46M	-7.98M	4.85M	20.35M	27.96M
Cash Flow
Free Cash Flow	-30.62M	-35.40M	-36.91M	-28.31M	-26.02M	-10.42M
Operating Cash Flow	-30.62M	-35.40M	-31.41M	-23.81M	-26.02M	-10.42M
Investing Cash Flow	0.00	0.00	-5.50M	-4.50M	0.00	0.00
Financing Cash Flow	53.91M	46.76M	22.32M	24.08M	12.07M	38.44M

SELLAS Life Sciences Group Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.91
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SLS, the sentiment is Positive. The current price of 1.91 is below the 20-day moving average (MA) of 3.00, below the 50-day MA of 2.17, and above the 200-day MA of 1.80, indicating a bullish trend. The MACD of 0.62 indicates Negative momentum. The RSI at 64.68 is Neutral, neither overbought nor oversold. The STOCH value of 54.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SLS.

SELLAS Life Sciences Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BDTX	59 Neutral	$158.39M	7.66	19.23%	―	―	―
SLS	52 Neutral	$549.83M	-13.45	-84.33%	―	―	59.04%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
DMAC	49 Neutral	$434.85M	―	-64.12%	―	―	-29.73%
VYGR	46 Neutral	$225.74M	-1.87	-46.09%	―	-80.88%	-388.61%
GALT	44 Neutral	$206.33M	-5.41	―	―	―	18.82%

SELLAS Life Sciences Group Corporate Events

SELLAS Raises $26.5 Million Through Warrant Exercises

Subsequent to December 31, 2025, SELLAS Life Sciences Group, a biopharmaceutical company, received approximately $26.5 million in cash proceeds from the exercise of common stock warrants, strengthening its capital position and potentially extending its operating runway. As of January 7, 2026, the company had 170,282,026 shares of common stock outstanding, reflecting a meaningful increase in share count that may have implications for existing shareholders’ ownership dilution and future capital markets activity.

The most recent analyst rating on (SLS) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on SELLAS Life Sciences Group stock, see the SLS Stock Forecast page.

SELLAS Life Sciences Enters Warrant Inducement Agreement

On October 24, 2025, SELLAS Life Sciences Group entered into a Warrant Inducement Agreement with holders of existing warrants to purchase shares of its common stock, resulting in gross proceeds of approximately $31 million. In exchange for exercising these warrants, the holders received new warrants to purchase an equivalent number of shares at a higher exercise price, with the transaction expected to close around October 28, 2025. This agreement, facilitated by financial advisors A.G.P./Alliance Global Partners and Maxim Group LLC, restricts the company from issuing new shares or entering variable rate transactions for specified periods, potentially impacting its financial strategy and market operations.

The most recent analyst rating on (SLS) stock is a Buy with a $7.00 price target. To see the full list of analyst forecasts on SELLAS Life Sciences Group stock, see the SLS Stock Forecast page.