Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, January 21, 2022

Article Excerpt

SELLAS LIFE SCIENCES GROUP INC., $5.07, symbol SLS on Nasdaq, is a clinical biopharmaceutical company aiming to develop novel cancer immunotherapies. Sellas went public in January 2018 through a merger with Galena Biopharma. The company’s shares briefly shot up to as high as $15.08 in June 2021. That rise was the result of meme-stock investors looking to push up the stock for a quick profit. This is where speculators target companies and pump them up on social media platforms like Reddit online chat forums. Similar frenzies have caused stocks like retailers GameStop and Bed, Bath & Beyond to shoot up temporarily. Notably, the Sellas frenzy centred around the prospects for its Galinpepimut-S treatment. The company continues to enroll patients for its Phase III clinical study of Galinpepimut-S, which was developed for the treatment of acute myeloid leukemia (AML). AML is a cancer of the blood and bone marrow—the spongy tissue inside bones where blood cells are made. The company is also preparing to undergo a..

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