NEW YORK, Sept. 25, 2024 /PRNewswire/ -- Seelos Therapeutics, Inc. (Nasdaq: SEEL ) ("Seelos" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, today announced that its Board of Directors approved a 1-for-16 reverse stock split of its outstanding shares of common stock, to be effective as of 12:01 a.m.
-SLS-005 induces autophagy to reduce mutant protein aggregates, and is currently being studied in Alzheimer's disease, Huntington's disease, Amyotrophic Lateral Sclerosis and Spinocerebellar ataxia NEW YORK , Oct. 27, 2023 /PRNewswire/ -- Seelos Therapeutics, Inc. (Nasdaq: SEEL) ("Seelos"), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, today announced that it has been selected to present a poster from a study of SLS-005 (trehalose injection, 90.5 mg/mL for intravenous infusion) in a tauopathy model of Alzheimer's disease at the Society for Neuroscience's Neuroscience 2023 meeting, to be held on November 11-15, 2023, at the Walter E. Washington Convention Center in Washington, D.C.
Seelos Therapeutics (NASDAQ: SEEL ) stock is falling on Thursday after the company released results from a clinical trial. Seelos Therapeutics first reported results from its Phase 2 trial of SLS-002 on Wednesday.
Seelos Therapeutics (NASDAQ:SEEL) Inc's share price plummeted by 66% pre-market after the company announced that its phase II study for SLS-002, a treatment for adults with major depressive disorder at risk of suicide, failed to meet its primary goal. The primary goal, or "endpoint," is a key measure used to determine the success of a treatment in clinical trials.
Seelos Therapeutics Inc.'s stock SEEL tumbled 36% in premarket trade Wednesday, after the company reported promising results from a trial of a treatment for Acute Suicidal Ideation and Behavior (ASIB) in adults with Major Depressive Disorder (MDD) but said a too-small sample size means the study did not meet its primary endpoint. Seelos enrolled 147 patients in the Phase 2 trial of SLS-002, intranasal racemic ketamine, below its target for 220 patients, which it blamed on financial constraints.
Results from Part 2 of the phase 2 registration-directed study, using SLS-002 for acute suicidal ideation and behavior for MDD, are expected to be released by Q3 of 2023. The major depressive disorder treatment market is expected to reach $14.96 billion by 2032; Even if only accounting for 58% of MDD patients this is still a huge market. Results from the phase II/III study, using SLS-005 for the treatment of patients with Amyotrophic lateral sclerosis, are expected to be released by Q4 of 2023.