Seelos Therapeutics surges on deal with U.S. Army to develop PTSD drug

Seelos Therapeutics

24/09/2024 13:37

** Shares of Seelos Therapeutics  SEEL.O  jumps ~89% to 35
cents premarket
    ** Co says it has signed agreement with a U.S. Army unit to
supply its drug candidate, which is being developed for
treatment of post-traumatic stress disorder 
    ** Ketamine-based drug, SLS-002, will be tested in
active-duty service members and veterans with PTSD in mid-stage
study
     ** Trial, funded by the U.S. Department of Defense's health
agency, is expected to start dosing before the end of 2024 -
SEEL
    ** PTSD, a disorder caused by very stressful events, affects
13 million Americans and is commonly associated with war
veterans
    ** As of last close, stock down ~98% YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com))