Sellas Life Sciences shares fell after former hedge fund manager Martin Shkreli questioned the timing of its Phase 3 REGAL trial. Shkreli suggested on social media that acute myeloid leukemia (AML) data might be delayed until Christmas. The company previously expected a summer release for the results.
The trial requires 80 events to trigger its final analysis. Sellas management considers this milestone the most important catalyst in the company's history. The CEO recently stated the company is nearing the threshold and has entered a quiet period.
SLS stock dropped 1% in Thursday pre-market trading after a 6% decline in the prior session. The shares are currently tracking toward their worst monthly performance in a year.