SLS Stock Rises Overnight: Why Retail Traders Prefer Sellas Over IBRX, ONDS, PYPL As Most Bullish Pick

Traders are watching for the 80th event, data lock and topline results, while some are also speculating about potential M&A.

• Retail traders picked SLS as the top bullish-trending stock, with Sellas drawing 50% of 3,400 votes versus ONDS at 24%, IBRX at 18%, and PYPL at 8%.
• Retail focus remains on the Phase 3 Regal trial of GPS in AML, which has reached 78 of the 80 events needed for final analysis.
• Buyout chatter grew further after CEO Angelos Stergiou thanked strategic partners and said he was “incredibly optimistic about the future.”

Shares of Sellas Life Sciences (SLS) rose 1% overnight heading into Tuesday as retail traders picked the biotech firm as their top bullish bet among trending stocks, with attention fixed on the company’s looming Regal trial milestone.

SLS stock fell 7% on Monday, ending the regular session at $13.94. 

SLS Leads Retail Bullishness Poll

A Stocktwits poll asking users which trending stock they were most bullish on showed Sellas leading with 50% of 3,400 votes. Ondas Holdings followed with 24%, ImmunityBio drew 18%, and PayPal received 8%. However, sentiment on the platform has slightly dipped into the ‘bullish’ range from ‘extremely bullish’ levels a day ago amid a 131% jump in 24-hour message volumes. 

The retail focus centers on Sellas’ Phase 3 Regal trial of GPS (galinpepimut-S) in acute myeloid leukemia (AML). The study has reached 78 of the 80 events needed to trigger final analysis, making the next two events, data lock and topline results, the key milestones traders are watching. One user said they had “lost a ton of money with IBRX and made a ton with SLS,” adding: “Proof is in the pudding. SLS all the way!” 

Another pointed to the expected 80th event, data lock and primary analysis, while also speculating about strong topline data and potential M&A activity. A third user based the bullish case on Vertex Pharmaceuticals’ $10 billion acquisition of Crinetics Pharmaceuticals, saying that the deal showed Big Pharma’s appetite for de-risked biotech platforms. The user claimed SLS’ pipeline could support a much higher valuation and said, “We are next up.”

Another shareholder said that the wait for the 80th event was testing patience, but argued it was also stretching the “high end of this asymmetrical bet,” pointing to July 13-17 as a possible window for a “highly positive blowout week.”

SLS Buyout Speculation Builds

Retail traders are also watching for possible partnership or acquisition clues. Stergiou’s Fourth of July LinkedIn post added to the chatter after he thanked “clinical investigators, research sites, collaborators, strategic partners, and shareholders” for their “trust” and “partnership,” adding that he was “incredibly optimistic about the future.”

Investors have also parsed updated executive severance and change-of-control arrangements. Stergiou’s amended agreement shifts certain change-of-control severance payments to a lump sum, while CFO John Burns and Chief Development Officer Dragan Cicic would receive salary, bonus, COBRA reimbursement and full equity acceleration under qualifying change-of-control terminations.

SLS Valuation Surges Ahead Of Regal Readout 

Sellas’ market value has climbed from $73 million at the start of 2024 to more than $1.5 billion by mid-2026, reflecting the sharp rise in investor attention around the Regal readout. The company also ended the first quarter with $107.1 million in cash and raised another $28.7 million through warrant exercises in April and May.

Shareholders recently approved a 20 million-share increase to the company’s 2023 Equity Incentive Plan. Stergiou was also awarded 1.065 million restricted stock units vesting over four years, raising his ownership to 1.76 million shares.

SLS stock surged 542% over the past year. 

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