Stock Alert: SELLAS Life Sciences Hits New 52-week High

Shares of biopharmaceutical company SELLAS Life Sciences Group, Inc. (SLS) are extending strong gains from the previous sessions and rising more than 14 percent or $0.90 in Thursday's morning trade at $7.29, after hitting a new 52-week high of $9.29.

Earlier this week, SELLAS Life Sciences and China-based biopharmaceutical company 3D Medicines Inc. said they have entered into an exclusive license agreement. The license deal grants rights to 3DMed to develop and commercialize SELLAS' lead late-stage clinical candidate, galinpepimut-S or GPS, as well as its next generation heptavalent immunotherapeuatic, GPS+, which is at preclinical stage, across all therapeutic and diagnostic uses in the Greater China territory.

SELLAS retains sole rights to GPS and GPS+ outside of the Greater China area. Potential payments to SELLAS under the agreement could total $202 million in license fees and milestone payments, not including future royalties.

SELLAS is slated to present finalized data from the National Cancer Institute-sponsored phase II trial of Nelipepimut-S in combination with granulocyte-macrophage colony-stimulating factor (GM-CSF) in women with ductal carcinoma in situ (DCIS) of the breast, at the 2020 San Antonio Breast Cancer Symposium on Friday, December 11.

SELLAS Life Sciences has traded in a range of $1.46 to $9.29 in the past 52 weeks.

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