SELLAS Life Sciences Announces Pricing of $25.0 Million Underwritten Public Offering
March 31 2022 - 9:03PM
SELLAS Life Sciences Group, Inc. (Nasdaq: SLS) (“SELLAS” or the
“Company”), a late-stage clinical biopharmaceutical company focused
on the development of novel therapies for a broad range of cancer
indications, today announced the pricing of its previously
announced underwritten public offering of 4,629,630 shares of its
common stock and accompanying warrants to purchase up to 4,629,630
shares of common stock at a combined public offering price of $5.40
per share and accompanying warrant. The warrants to purchase shares
of common stock have an exercise price of $5.40 per share, are
immediately exercisable and will expire five years from the date of
issuance. All of the securities in the offering will be sold by
SELLAS, with gross proceeds to SELLAS expected to be $25.0 million
before deducting underwriting discounts and commissions and
offering expenses. The offering is expected to close on April 5,
2022, subject to the satisfaction of customary closing conditions.
SVB Leerink and Cantor are acting as joint book-running managers
for the offering.
The public offering is being made pursuant to a shelf
registration statement on Form S-3 (File No. 333-255318) that was
previously filed with the Securities and Exchange Commission (the
“SEC”) on April 16, 2021 and declared effective on April 29, 2021.
A final prospectus supplement and accompanying base prospectus
relating to and describing the terms of the offering will be filed
with the SEC and will be available on the SEC’s website located
at http://www.sec.gov. The offering is being made only by
means of a prospectus and related prospectus supplement, copies of
which may be obtained, when available, from SVB Securities LLC,
Attention: Syndicate Department, 53 State Street, 40th Floor,
Boston, MA 02109, by telephone at 1-800-808-7525, ext. 6105, or by
email at syndicate@svbleerink.com or Cantor Fitzgerald & Co.,
Attention: Capital Markets, 499 Park Avenue, 4th Floor, New York,
NY 10022, or by email at prospectus@cantor.com.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy, nor will there be any sale of
these securities in any state or other jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
About SELLAS Life Sciences Group, Inc.
SELLAS Life Sciences Group, Inc. (NASDAQ: SLS) is a late-stage
clinical biopharmaceutical company focused on the development of
novel therapeutics for a broad range of cancer indications. SELLAS’
lead product candidate, GPS, is licensed from Memorial Sloan
Kettering Cancer Center and targets the WT1 protein, which is
present in an array of tumor types. GPS has potential as a
monotherapy or in combination with other therapies to address a
broad spectrum of hematologic malignancies and solid tumor
indications. The Company is also developing GFH009, a small
molecule, highly selective CDK9 inhibitor, which is licensed from
GenFleet Therapeutics (Shanghai), Inc. for all therapeutic and
diagnostic uses in the world outside of Greater China.
Forward-Looking Statements
This press release contains forward-looking statements. All
statements other than statements of historical facts are
“forward-looking statements,” including those relating to future
events. In some cases, forward-looking statements can be identified
by terminology such as “plan,” “expect,” “anticipate,” “may,”
“might,” “will,” “should,” “project,” “believe,” “estimate,”
“predict,” “potential,” “intend,” or “continue” and other words or
terms of similar meaning. These forward-looking statements speak
only as of the date of this press release and are subject to a
number of risks, uncertainties and assumptions, including the risks
and uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to the
offering, as well as risks and uncertainties inherent in SELLAS’
business, including those described in the company's periodic
filings with the SEC. These forward-looking statements are based on
current plans, objectives, estimates, expectations and intentions,
and inherently involve significant risks and uncertainties. Actual
results and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of these
risks and uncertainties, which include, without limitation, risks
and uncertainties associated with the COVID-19 pandemic and its
impact on the Company’s clinical plans and business strategy, risks
and uncertainties associated with oncology product development and
clinical success thereof, the uncertainty of regulatory approval,
and other risks and uncertainties affecting SELLAS and its
development programs as set forth under the caption “Risk Factors”
in SELLAS’ Annual Report on Form 10-K filed on March 31, 2022 and
in its other SEC filings. Other risks and uncertainties of which
SELLAS is not currently aware may also affect SELLAS’
forward-looking statements and may cause actual results and the
timing of events to differ materially from those anticipated. The
forward-looking statements herein are made only as of the date
hereof. SELLAS undertakes no obligation to update or supplement any
forward-looking statements to reflect actual results, new
information, future events, changes in its expectations or other
circumstances that exist after the date as of which the
forward-looking statements were made.
Investor ContactAllison SossKCSA Strategic
CommunicationsEmail: SELLAS@kcsa.comPhone: 212.896.1267
Media ContactRaquel Cona / Michaela FawcettKCSA
Strategic CommunicationsEmail: SELLAS@kcsa.comPhone:
212.896.1276
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