SELLAS Life Sciences Group (SLS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason McCarthy from Maxim Group maintained a Buy rating on the stock and has a $4.00 price target.
Jason McCarthy’s rating is based on the promising data from SELLAS Life Sciences Group’s Phase 2a trial of SLS009, which is being tested in combination with venetoclax and azacitidine for patients with relapsed/refractory acute myeloid leukemia (AML). The trial’s cohort 3, which uses the selected Phase 2 dose, showed a median overall survival of 8.8 months across all patients and 8.9 months in the AML-MRC subgroup, significantly surpassing the historical benchmark of approximately 2.5 months. Additionally, the overall response rate was 46% for all evaluable patients and 67% for those in the AML-MRC subgroup, both of which exceeded the target response rate.
Furthermore, the safety profile of SLS009 was positive, with no new safety signals observed. These compelling response rates and survival data, particularly in the challenging AML-MRC setting, are encouraging. The upcoming top-line data from this study, expected by the end of the second quarter of 2025, along with the anticipated Phase 3 data for galinpepimut-S in AML, are seen as key catalysts for the company’s stock. These factors collectively contribute to McCarthy’s Buy rating for SELLAS Life Sciences Group.
According to TipRanks, McCarthy is an analyst with an average return of -27.1% and a 18.59% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group, Actinium Pharmaceuticals, and Medicus Pharma Ltd.