--- title: "SELLAS Life Sciences expects $23.6 million gross from investor's warrant" url: "https://aibio.space/news/sellas-life-sciences-expects-23-6-million-gross-investors-warrant/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-09-11" section: "Financings" tickers: "NASDAQ:SLS" source: "https://www.sec.gov/Archives/edgar/data/1390478/000110465925089272/tm2525854d1_ex99-1.htm" summary: "SELLAS says an institutional investor will exercise January 2025 warrants for 19,685,040 shares, bringing about $23.6 million gross. The investor gets new" --- By the aibio.space news desk. Sources - [SELLAS Life Sciences Group, Inc. 8-K (2025-09-11)](https://www.sec.gov/Archives/edgar/data/1390478/000110465925089272/tm2525854d1_ex99-1.htm) - [SELLAS Life Sciences Group, Inc. 10-K (2025-03-20): business](https://www.sec.gov/Archives/edgar/data/1390478/000139047825000003/sls-20241231.htm) [SLS](https://aibio.space/companies/sellas-life-sciences/) 2025-09-11 # SELLAS Life Sciences expects $23.6 million gross from investor's warrant exercise Tickers [SLS](https://aibio.space/companies/sellas-life-sciences/) SELLAS says an institutional investor will exercise January 2025 warrants for 19,685,040 shares, bringing about $23.6 million gross. The investor gets new unregistered warrants for the same number of shares at $1.88, so the dilution continues. ## Key facts - **Company**: SELLAS Life Sciences Group, Inc. (NASDAQ: SLS) - **News type**: Financings - **Primary source**: [SELLAS Life Sciences Group, Inc. 8-K (2025-09-11)](https://www.sec.gov/Archives/edgar/data/1390478/000110465925089272/tm2525854d1_ex99-1.htm) *A conference room set for a meeting. CC0, via rawpixel. The picture shows the field, not the companies named.* SELLAS Life Sciences Group, Inc. announced on September 11, 2025 that an institutional investor would immediately exercise warrants it received in January 2025. The warrants cover up to 19,685,040 common shares, and the company said the exercise would bring gross cash proceeds of about $23.6 million. The closing is expected on or about September 12, 2025, subject to customary conditions. The shares trade on Nasdaq under the symbol SLS. ## The new warrants In return for exercising in full, the investor will receive, in a private placement, new unregistered warrants to purchase up to 19,685,040 common shares. The new warrants carry an exercise price of $1.88, are exercisable immediately and expire five years and six months from issuance. The company has agreed to file a registration statement covering the resale of the shares underlying the new warrants within 30 calendar days after closing. The shares from the January warrants were registered on an effective Form S-3. The new warrants and their underlying shares were offered under Section 4(a)(2) of the Securities Act of 1933 and Regulation D. The company's release says the securities may not be offered or sold in the United States without registration or an exemption. The release names A.G.P./Alliance Global Partners and Maxim Group LLC as the financial advisors on the transaction. It does not name a placement agent or counsel. ## What the exercise does and does not do The cash comes in now, but the company grants new warrants over the same number of shares, and those warrants and their shares are not yet registered for resale. The release does not give the exercise price of the January warrants. ## The lead asset SELLAS's lead product candidate is galinpepimut-S, or GPS, a peptide immunotherapy directed against the Wilms tumor 1 antigen. The company licenses it from Memorial Sloan Kettering Cancer Center. Its 2024 annual report describes an ongoing open-label randomized Phase 3 trial, the REGAL study, of GPS monotherapy in patients with acute myeloid leukemia in the maintenance setting after second complete remission. The primary endpoint is overall survival. The trial's planned enrollment was 125 to 140 patients. Enrollment was completed in March 2024. An interim analysis was triggered when 60 deaths were reached, and in January 2025 the Independent Data Monitoring Committee recommended that the study continue without modifications. The final analysis will come after 80 events, which the company said in its March 2025 annual report it expected in 2025. The annual report says the timing is difficult to predict because the analysis is event driven. The report also says the company will use the study as the basis for a Biologics License Application only if the trial produces a statistically significant and clinically meaningful outcome and the FDA agrees. ## The Greater China partner and the arbitration In 2020 SELLAS licensed GPS and its next-generation GPS+ candidate to 3D Medicines for mainland China, Hong Kong, Macau and Taiwan. As of March 15, 2025, the company said it had received $10.5 million in upfront and milestone payments under that agreement, and that $191.5 million in potential future milestones remained. In December 2023 SELLAS began binding arbitration against 3D Medicines over the trigger and payment of certain milestones. The annual report says 3D Medicines may still enroll patients in mainland China, but the timing is not predictable. ## The second asset SLS009, also called tambiciclib, is a CDK9 inhibitor that SELLAS licensed from GenFleet Therapeutics in March 2022 for markets outside Greater China. The company completed a Phase 1 trial in the United States and China in mid-2023 and set a recommended Phase 2 dose of 60 mg once weekly for AML. It started a Phase 2a trial combining SLS009 with venetoclax and azacitidine in the second quarter of 2023. GPS holds FDA Orphan Drug and Fast Track designations, and it received Rare Pediatric Disease designation for pediatric AML in October 2024. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story SLS SELLAS Life Sciences Group, Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/sellas-life-sciences-expects-23-6-million-gross-investors-warrant/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "SELLAS Life Sciences expects $23.6 million gross from investor's warrant", 2025-09-11, https://aibio.space/news/sellas-life-sciences-expects-23-6-million-gross-investors-warrant/