Sellas Stock Surges After 8-K Revises Executive Payouts

Sellas Life Sciences filed a Form 8-K with the SEC on June 26 outlining amendments to change-of-control and severance agreements for CEO Angelos Stergiou, CFO John Burns and CDO Dragan Cicic. The filing converts Stergiou’s prospective installment payments into a lump-sum distribution on a change of control and adds a look-back window that preserves severance protections for Burns and Cicic up to one month before an acquisition.

The filing was made as Sellas approaches a data lock for its REGAL global Phase 3 trial of galinpepimut‑S (GPS) in acute myeloid leukemia. The trial’s final analysis is event-driven and requires 80 survival events; the company reported 78 events at the time of the filing.

Trading on June 26 pushed Sellas shares higher. The stock has risen more than 150% since the start of 2026. Short interest was about 33% of the float, and the sudden buying pressure tied to the SEC filing and acquisition speculation prompted notable short covering.

In recent corporate updates the company reported about $135.8 million in cash on hand, which includes roughly $28.7 million in proceeds from warrant exercises collected in April and May. The company reported that the cash position reduces the need for near-term dilutive financing.

The SEC Form 8-K discloses contractual changes; it does not create a binding acquisition agreement and no buyer has been announced. Final REGAL results and any subsequent corporate developments will determine future investor response.