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SELLAS Life Sciences shares surge on Phase 2b results of breast cancer treatment

The company will talk with US regulators in December on the best way forward for the drug
cancer cell
SELLAS Life Sciences Group is a clinical-stage biopharmaceutical company

SELLAS Life Sciences Group Inc (NASDAQ:SLS) shares climbed on Friday after it reported positive results of a Phase 2b study for breast cancer.

The study showed that patients treated with a combination of nelipepimut-S (NPS) and trastuzumab showed a 90.6% decrease in the risk of relapse or death at 24 months, especially for patients with the HLA-A24 allele, a human leukocyte antigen serotype common in Asians, the company said.

Shares of SELLAS shot up 31.5% to the day's high of $2.46 on the news, before sharply pruning their gains.

READ: SELLAS Life Sciences shares pop after presenting treatment on breast cancer

“These data not only confirm the clinical effect of the NPS plus trastuzumab combination ... but also positions NPS biologically as an agent that could potentially be used globally, considering the high prevalence of the HLA-A24 allele in populations across the Pacific basin and Asia," said Doctor Angelos Stergiou, president and CEO of SELLAS.

He said they will talk with US regulators in December 2018 on the best way for an "expeditious development path for NPS" and try to advance interaction with potential partners.SELLAS Life Sciences Group is a clinical-stage biopharmaceutical company which focuses on the development of immunotherapies for various cancer indications.

The company is based in New York City.

Reporting by Rene Pastor, contactable on [email protected] 

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