I am the driving force behind Up 24 News with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Healthcare” category.
Address: 1134 Russell Street, Cambridge, MA 02141, USA
Phone: (+1) 978-923-6667
Latest posts by Tomas Palumbo (see all)
- Stock in the Spotlight: Tenet Healthcare Corporation (NYSE: THC) - July 14, 2019
- Investor’s Roundup: SELLAS Life Sciences Group Inc. (NASDAQ: SLS) - July 12, 2019
- Stock Buzz: Retractable Technologies Inc. (NYSE: RVP) - July 9, 2019
NEW YORK, July 12, 2019 – Shares of SELLAS Life Sciences Group Inc. (NASDAQ: SLS) showed the bearish trend with a lower momentum of -4.60% to $0.14. The company traded total volume of 64.092M shares as contrast to its average volume of 11.90M shares. The company has a market value of $3.69M and about 26.55M shares outstanding.
SELLAS Life Sciences Group, Inc. (SLS) reported research and development expenses of $1.90M for the first quarter of 2019, as contrast to $1.80M for the first quarter of 2018. The $0.10M increase was mainly attributable to a $0.40M increase in outsourced clinical and regulatory consulting related to our ongoing negotiations with the U.S. Food and Drug Administration for further development of the combination of NPS plus trastuzumab in TNBC and a $0.20M increase in licensing fees. These increases were partially offset by a $0.30M decrease in clinical expenses because of the completion of the Phase 2b trial of NPS in combination with trastuzumab in 2018 and a $0.20M decrease in personnel related expenses because of reduced headcount.
General and administrative expenses were $2.50M for the first quarter of 2019, as contrast to $3.90M for the first quarter of 2018. The $1.40M decrease was because of a $0.60M decrease in legal fees, a $0.20M decrease in accounting and audit fees, a $0.20M decrease in outsourced consulting, a $0.20M decrease in public company costs and a $0.20M decrease in other expenses. These decreases were driven by our focus on reducing expenses as we explore a wide range of planned alternatives.
Net loss attributable to common stockholders was $5.00M for the first quarter of 2019, or a basic and diluted loss per share attributable to common stockholders of $0.22, as contrast to a net loss attributable to common stockholders of $10.00M for the first quarter of 2018, or a basic and diluted loss per share attributable to common stockholders of $1.67.
As of March 31, 2019, cash and cash equivalents totaled about $2.60M. Cash and cash equivalents as of March 31, 2018 totaled about $5.40M. Net cash used in operating activities for the quarter was $5.00M, contrast to $5.40M for the quarter ended March 31, 2018. During the first quarter, SELLAS received net proceeds of $2.20M from the exercise of certain warrants. SELLAS received an additional $1.10M from the exercise of warrants subsequent to March 31, 2019.
ROE was recorded as -600.20% while beta factor was 1.30. The stock, as of recent close, has shown the weekly downbeat performance of -31.02% which was maintained at -88.70% in this year.