SELLAS Life Sciences stock is challenging resistance. Why did SLS hit a new high?
Alongside its first-quarter 2026 financial results, SELLAS last week announced that its pivotal Phase 3 REGAL trial, which evaluates GPS in AML patients, is on the cusp of a major milestone. As of May 11, the study had recorded 78 of its pre-specified 80 events. Reaching this 80th event will immediately trigger database lock procedures, statistical analysis, and the subsequent disclosure of topline data.Additionally, the company highlighted the expansion of its SLS009 program with the launch of an 80-patient Phase 2 study. This trial targets newly diagnosed AML patients who are unlikely to benefit from standard therapies, with topline data expected in the fourth quarter of 2026. This clinical momentum builds on promising preclinical findings presented at the 2026 AACR meeting, which demonstrated SLS009’s ability to reduce key tumor survival proteins and induce cell death in high-risk mutant AML subtypes.Critical Price Levels To Watch For SLS StockFrom a trend perspective, the stock is extended: at $8.26, it's trading 51.5% above the 20-day SMA ($5.48) and 157.7% above the 200-day SMA ($3.22), which is consistent with a strong momentum run rather than a quiet grind higher. The moving-average structure remains bullish (20-day SMA above the 50-day, and the 50-day above the 200-day), but this kind of distance from the longer averages can raise the odds of sharp pullbacks if buyers pause.RSI is the cleanest momentum read right now, sitting at 74.40, which flags an overbought condition and suggests the recent rally is getting stretched. In plain English, RSI helps gauge whether a move is "too far, too fast," and readings above 70 often mean the stock may need consolidation even if the bigger trend stays up.
