Sellas Life Sciences Shares Surge on Analyst's Positive Cancer Vaccine Outlook

Sellas Life Sciences (SLS) shares rose by 6% on Wednesday after an analyst tied the strong Moderna-Merck cancer vaccine data to the company's own late-stage program.

Maxim Group described Moderna's positive late-stage melanoma results as a 'win for cancer vaccines,' arguing that the surge in Moderna shares should support Sellas if its key trial succeeds.

The REGAL study, which is testing Sellas' lead therapy galinpepimut-S (GPS) in patients with acute myeloid leukemia who are in a second complete remission, has already reached 78 of the required 80 events for analysis to begin.

Maxim kept its Buy rating and $30 price target on SLS, citing a potential upside of 129% from the stock's last closing price.