Seelos Therapeutics Inc Stock Price, News & Analysis

Seelos Therapeutics, Inc. (Nasdaq: SEEL) has been included in the world's first psychedelic Exchange Traded Fund (ETF), trading on Canada's NEO exchange under the symbol PSYK. This recognition is attributed to its lead program, SLS-002, an intranasal racemic ketamine currently in a registrational Proof of Concept study for Acute Suicidal Ideation and Behavior in Major Depressive Disorder. The ETF aims to replicate the performance of the North American Psychedelics Index, providing exposure to life sciences companies in the psychedelics sector.

Seelos Therapeutics (Nasdaq: SEEL) has priced an underwritten public offering of 15,243,903 shares of common stock at $2.05 per share, raising approximately $29.1 million net proceeds. The offering includes an option for underwriters to purchase an additional 2,286,585 shares. Seelos plans to allocate $3.3 million to repay convertible promissory notes, with remaining funds aimed at general corporate purposes and advancing product development. The transaction is expected to close around January 28, 2021.

Seelos Therapeutics (Nasdaq: SEEL) has initiated a proposed underwritten public offering of common stock, with the offering subject to market conditions. The company will sell all shares and may grant underwriters an option for an additional 15% for over-allotments. Proceeds will partially repay outstanding convertible promissory notes and support product candidate development. The offering will be conducted under an effective shelf registration statement filed with the SEC. BTIG is the sole book-running manager for this offering.

Seelos Therapeutics, Inc. (Nasdaq: SEEL) announced that it has received a Notice of Allowance from the Japanese Patent Office for its drug SLS-005. This patent, covering Japanese patent number 2016-512480, facilitates the treatment of oculopharyngeal muscular dystrophy (OPMD) using trehalose, administered intravenously. Trehalose is a disaccharide that crosses the blood-brain barrier, stabilizes proteins, and activates autophagy, potentially reducing protein aggregation in various diseases. This development marks a significant step in Seelos's efforts to address central nervous system disorders.

Seelos Therapeutics, Inc. (Nasdaq: SEEL) has initiated the dosing of the first patients in its Proof of Concept study for SLS-002, an intranasal racemic ketamine therapy targeting Acute Suicidal Ideation and Behavior in Major Depressive Disorder. This multicenter trial includes an open-label phase for 16 patients followed by a randomized portion for approximately 120 participants. The primary endpoint focuses on depression symptom changes within 24 hours. The study addresses a significant need for rapid treatment options as existing therapies often delay efficacy.

Seelos Therapeutics (Nasdaq: SEEL) reported significant advancements in its year-end 2020 update. The company completed its safety trial for the intranasal ketamine program and initiated pivotal trials for major depressive disorder. They achieved key milestones for their ALS and Parkinson's disease programs, receiving orphan drug designations and entering the HEALEY ALS Platform Trial at Harvard. Seelos expanded its team with experienced industry professionals, enhancing its operational capacity. The company anticipates upcoming clinical studies in suicidality and ALS in 2021.

Seelos Therapeutics (Nasdaq: SEEL) announced the grant of a stock option for 75,000 shares to a new employee under its 2019 Inducement Plan, compliant with Nasdaq Listing Rule 5635(c)(4). The exercise price is set at $1.46, matching the closing price on January 4, 2021. The option is a non-qualified stock option, with vesting terms that include 1/4th of the shares vesting after one year and the remainder vesting monthly over three years, contingent on continued employment.

Seelos aims to address unmet medical needs in central nervous system and rare disorders.

Seelos Therapeutics (Nasdaq: SEEL) announced the issuance of Israeli patent number 241757 for a method to treat various neurodegenerative diseases using trehalose (SLS-005). This patent covers conditions like ALS, Huntington's disease, and Alzheimer's. Seelos has also received orphan drug designation for SLS-005 in ALS and is participating in the HEALEY ALS Platform Trial at Massachusetts General Hospital. Trehalose activates autophagy, offering potential benefits in managing protein aggregation in affected diseases.

Seelos Therapeutics (Nasdaq: SEEL) announced that its Phase IIb/III study of SLS-005 (trehalose) has been included in the HEALEY ALS Platform Trial at Massachusetts General Hospital. This platform is the first-ever trial designed to expedite testing for ALS treatments. The recognition of SLS-005 as a potential therapy by the Healey Center is a significant validation for Seelos. Additionally, SLS-005 has received Orphan Drug Designation from the FDA for ALS treatment, emphasizing its importance in addressing this serious condition.