Seelos hits record low as experimental treatment for suicidal behavior fails in study

Seelos Therapeutics

20/09/2023 15:13

(Updates)
    ** Shares of Seelos Therapeutics  SEEL.O  fall 75% to hit
record low of 26 cents
    ** Co's experimental treatment, SLS-002, failed to meet main
goal in a mid-stage study due to limited sample size 
    ** SEEL says only 147 of 220 patients were enrolled in the
study due to financial constraints 
    ** Co was evaluating use of the drug to treat acute suicidal
ideation and behavior (ASIB) in adults with major depressive
disorder (MDD) in study 
    ** SEEL says data from 147 patients shows SLS-002 resulted
in meaningful improvement in symptoms of depression, and helped
reduce acute suicidality symptoms relative to standard of care 
    ** Co plans to move forward with the development of the drug
and will discuss next steps with the U.S. FDA 
    ** SEEL stock down ~62% YTD

 (Reporting by Bhanvi Satija and Pratik Jain in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))