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SELLAS Life Sciences (SLS) surged to its highest level so far this month on Dec. 27, rallying 8.30% intraday as a five-day winning streak pushed its shares up 34.60%. The biotech stock has regained ground after a period of volatility, fueled by recent clinical and regulatory progress in its leukemia program.
The rally followed positive data from Phase 2 trials of its CDK9 inhibitor, SLS009, which showed a 46% response rate in treating relapsed or refractory acute myeloid leukemia.

Despite a robust financial position—including a low debt-to-equity ratio and $43 million in working capital—the stock trades at a price-to-book ratio of 8.9x, far exceeding the biotech industry average. Analysts note that the valuation reflects aggressive expectations for SLS009’s commercial potential, though risks remain tied to Phase 3 trial execution and regulatory outcomes. Investors are advised to monitor upcoming trial milestones and partnership developments to gauge whether the current re-rating can be sustained.
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