SELLAS Life Sciences Group Inc. (NASDAQ:SLS) stock is trading higher on Thursday. Year-to-date, the stock has surged by around 300%.
FDA Approval Catalyst For Pancreatic Cancer
SLS’s momentum on Thursday may be related to the U.S. Food and Drug Administration (FDA) on Wednesday approving Revolution Medicines Inc.’s (NASDAQ:RVMD) Rasonque (daraxonrasib) for metastatic pancreatic adenocarcinoma (PDAC). Revolution Medicines’ stock is up over 2% on Thursday.
Specifically, it targets patients who previously underwent at least one systemic therapy or those ineligible for multiagent systemic treatment.
Rasonque marks the first approved targeted cancer therapy from a new class of RAS(ON) multi-selective and mutant-selective inhibitors.
