The stock of late-stage biopharmaceutical company Sellas Life Sciences Group Inc (NASDAQ: SLS) emerged as one of the major gainers yesterday. The stock soared by as high as 50% in premarket trading and ended the day with gains of another 34% to emerge as one of the more eye-catching gainers.
While the gains are significant, it is necessary to note that there was no material news regarding Sellas’ business that could have resulted in such a rally. In such a situation, it might be important to take a look at a development that took place back in January.
The company, which is involved in the development of novel immunotherapies to treat cancer, provided an update with regards to its business highlights from 2020. In addition to that, Sellas also provided a glimpse into the clinical progress it made last year and spoke about its milestones in 2021. The announcement at the time might have been a reason for the current focus on the stock.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.