Sellas Life Sciences (SLS) shares rose after Armstrong Advisory Group disclosed a new institutional position. The stock also experienced a significant increase in call options activity.
The Phase 3 REGAL trial for the acute myeloid leukemia treatment galinpepimut-S (GPS) is nearing final analysis. Investigators have recorded 78 of the 80 patient deaths required to complete the study.
Traders identified a $5.8 million wager on September $30 call options. The company’s CEO suggested that the slow accumulation of trial events may indicate treatment efficacy.
The stock has surged 586% over the past year. This momentum builds as the company prepares for the final REGAL trial readout.