Stock Alert: Sellas Life Sciences Up 50% On Positive Result Of Leukemia Drug

(RTTNews) - Shares of Sellas Life Sciences Group Inc. (SLS) surged nearly 50% on Wednesday morning after the clinical stage pharma company focused on cancer treatment announced positive trial results of a leukemia drug. The company announced the final follow-up data for its Phase 1/2 study of Galinpepimut-S (GPS), which is in late-stage development, in patients with acute myeloid leukemia. The final data shows a significant difference in survival rate of patients treated with GPS compared with standard care. "We're extremely pleased with this follow-up data, which show that GPS may have potential as a longer-term therapy for AML patients in CR2, an aggressive disease where the majority of patients typically relapse and have a survival rate of approximately 5 months with best standard therapy," said CEO Angelos Stergiou.

SLS is currently trading at $3.08, up $1.01 or 48.79%, on the Nasdaq, on a volume of 7 million shares, far above its three-month average volume of 400 thousand shares.