SLS is trading 4.3% down at $12.92 as investors lock in profits following a sharp multi-day rally fueled by bullish analyst coverage and anticipation of Phase 3 REGAL trial data.
- The recent surge was driven by momentum and expectations surrounding the REGAL cancer vaccine trial rather than new clinical data.
- Elevated short interest and a generally weak broader market are contributing to the intraday volatility.
- Today's decline reflects typical price action for a pre-readout biotech name after significant short-term gains.