Manulife unit increases stakes in SELLAS Life Sciences (SLS) and IBRX ahead of key cancer catalysts. Manulife unit stake increase in SLS precedes cancer catalysts with potential market impact.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | 1 | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 2.63 | 13.99 | 71.89 | 138.44 |
| Receivables | — | — | — | — |
| Inventory | — | — | — | — |
| Other | — | — | — | — |
| 3.17 | 16.33 | 75.21 | 142.51 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 5.64 | 3.50 | 2.95 | 3.09 |
| ST’ Debt | — | — | — | — |
| Other | — | — | — | — |
| 13.74 | 9.51 | 7.02 | 7.57 |
| 10y | 5y | 3y | |
| Sales | — | — | — |
| Cash Flow | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | — | — | — | — |
—
|
| ’22 | 1.00 | — | — | — |
1.00
|
| ’21 | 5.70 | 1.90 | — | — |
7.60
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (8.85) | (7.59) | — | — |
—
|
| ’25 | (9.07) | (7.33) | (7.07) | (4.92) |
(28.39)
|
| ’24 | (10.76) | (9.68) | (7.81) | (7.15) |
(35.40)
|
| ’23 | (12.13) | (7.57) | (6.89) | (4.82) |
(31.41)
|
| ’22 | (7.15) | (5.76) | (5.75) | (5.15) |
(23.81)
|
| ’21 | (10.27) | (4.90) | (5.88) | (4.98) |
(26.02)
|
| ’20 | (6.83) | (3.38) | (3.63) | 3.42 |
(10.42)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (8.85) | (7.59) | — | — |
—
|
| ’25 | (9.07) | (7.33) | (7.07) | (4.92) |
(28.39)
|
| ’24 | (10.76) | (9.68) | (7.81) | (7.15) |
(35.40)
|
| ’23 | (12.13) | (10.07) | (9.89) | (4.82) |
(36.91)
|
| ’22 | (7.15) | (10.26) | (5.75) | (9.65) |
(32.81)
|
| ’21 | (10.27) | (4.90) | (5.88) | (4.98) |
(26.02)
|
| ’20 | (6.83) | (3.38) | (3.63) | 3.42 |
(10.42)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.05) | (0.05) | — | — |
—
|
| ’25 | (0.07) | (0.07) | (0.06) | (0.05) |
(0.25)
|
| ’24 | (0.21) | (0.13) | (0.10) | (0.08) |
(0.50)
|
| ’23 | (0.47) | (0.31) | (0.33) | (0.25) |
(1.34)
|
| ’22 | (1.05) | (0.41) | (0.34) | (0.43) |
(2.13)
|
| ’21 | (0.16) | (0.30) | (0.45) | (0.42) |
(1.34)
|
| ’20 | (0.66) | (0.66) | (0.53) | (0.28) |
(2.11)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | 1.77 | 0.81 | 0.50 | 0.85 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.40 | 4.13 | 1.72 | 3.99 | — | — | — |
High Price
|
| ‡‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡ | 17 | 16 | 15 | 13 | — | — | — |
Employees
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.06 | 0.00 | 0.00 | 0.00 | — | — | — |
Revenue/Emp
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.00 | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡ | — | — | — | ‡‡‡ | ‡‡‡‡‡ | 90.00% | — | — | — | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (41.30) | (37.34) | (30.88) | (26.86) | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (4,130.10%) | 0.00% | 0.00% | 0.00% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (41.30) | (37.34) | (30.88) | (26.86) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.00 | — | — | — | — | — | — |
Depreciation
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.05 | 0.00 | 0.00 | 0.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2.13) | (1.34) | (0.50) | (0.25) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.23) | (1.13) | (0.58) | (0.26) | — | — | — |
Cash Flow/Sh
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | (0.46) | (0.20) | 0.00 | 0.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.69) | (1.33) | (0.58) | (0.26) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.25 | (0.29) | 0.15 | 0.65 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 19.40 | 27.78 | 61.20 | 109.05 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| — | — | — | — | ‡‡‡ | ‡‡‡ | 0.00 | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
PE Ratio
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.71 | — | — | — | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.20 | — | — | — | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.16 | — | — | — | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.17) | — | — | — | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (23.81) | (31.41) | (35.40) | (28.39) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| — | — | — | — | — | — | (9.00) | (5.50) | 0.00 | — | — | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (32.81) | (36.91) | (35.40) | (28.39) | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.24 | (10.56) | 6.82 | 68.19 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.95 | — | — | — | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (16.28) | (2.63) | (13.99) | (71.89) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.85 | (7.98) | 9.47 | 70.87 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (174.94%) | (274.94%) | (240.78%) | (54.95%) | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00% | 0.00% | 0.00% | 0.00% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (327.81%) | 2,389.76% | (4,147.88%) | (66.88%) | ‡‡‡‡‡ | — | — |
ROE
|
SELLAS Life Sciences Group (SLS) is a clinical-stage biotech powerhouse in cancer immunotherapies, with its lead candidate galinpepimut-S (GPS) targeting acute myeloid leukemia (AML) in the Phase 3 REGAL trial—data expected in 2025 that could spark a blockbuster approval. Despite a volatile history of dilutions and price swings, the stock now trades at a compelling discount, with analysts forecasting 95% upside on average (up to 109% at the high end), driven by explosive revenue projections jumping to $45.7 million annually from 2025-2027—a 4,570% surge from recent zeros.
Fundamentals are turning the corner: revenue per share and gross margins have shown scalability, losses are narrowing (EPS improving 77% to -$0.50 in 2024), cash burn is down 66%, and the balance sheet boasts positive equity and cash reserves. Insider confidence is roaring, with directors buying ~$185k in shares in 2025 alone—no sells in sight—betting big on catalysts ahead.
This setup screams undervaluation in the booming immuno-oncology space, with EV/Sales at a reasonable 13.4x future revenue versus peers. For patient investors eyeing multi-baggers, SLS offers gritty resilience meets blue-sky potential—read the full analysis for the deep dive on risks, metrics, and why REGAL could rewrite the script.
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