SEELOS THERAPEUTICS INC - SEEL STOCK NEWS

Seelos Therapeutics (Nasdaq: SEEL) announced an amendment to its agreement with Phoenixus AG to repurchase remaining royalties related to SLS-002, an intranasal racemic ketamine program. This move aims to eliminate contingent payment obligations, potentially saving the company nearly $100 million in future milestones. The repurchase is expected to enhance shareholder value, contingent on successful clinical development and commercialization of SLS-002, which targets acute suicidal ideation and behavior.

Seelos Therapeutics (Nasdaq: SEEL) announced receipt of a Clinical Trial Notification from Australia's TGA for a pilot study of SLS-005 (trehalose injection) targeting Alzheimer's disease. This investigational treatment has shown promise in preclinical models by addressing both beta-amyloid pathology and tau aggregates. Seelos also gained authorization for an open-label study to further evaluate SLS-005's efficacy in neurodegenerative diseases. The Australian regulatory environment facilitates quicker trials, leveraging the country's strong clinical capabilities.

Seelos Therapeutics (Nasdaq: SEEL) released its year-end 2021 update, highlighting significant milestones in clinical development. The SLS-002 trial for Major Depressive Disorder began dosing in July, and SLS-005's registrational study in ALS commenced in February 2022. Seelos reported $78.7 million in cash at year-end 2021 and raised $20.2 million through a private placement. Notable advancements include engaging in more than 30 trial sites for SLS-002 and receiving Fast Track designation for SLS-005. The company aims for continued progress amid industry challenges.

Seelos Therapeutics (Nasdaq: SEEL) has initiated a major milestone by dosing the first participants in its registrational Phase II/III trial for SLS-005, an investigational treatment for amyotrophic lateral sclerosis (ALS), as part of the HEALEY ALS Platform Trial. The trial aims to enroll 160 participants and evaluates various endpoints, including the ALS Functional Rating Scale. SLS-005 has previously been granted Orphan Drug Designation by both the FDA and EMA. Seelos aims to provide new therapeutic alternatives for ALS, a severe neurological condition.

Seelos Therapeutics (Nasdaq: SEEL) announced on December 21, 2021, the grant of a stock option to purchase 75,000 shares of common stock to a new employee. The option, part of the 2019 Inducement Plan, has an exercise price of $1.65, reflecting the closing stock price on December 20, 2021. Vesting occurs with 1/4th after one year, then monthly over three years, contingent on continuous employment. This move aligns with Nasdaq Listing Rule 5635(c)(4) and underscores Seelos Therapeutics' commitment to attract talent as it advances its pipeline targeting CNS disorders and rare diseases.

Seelos Therapeutics (Nasdaq: SEEL) will participate in the 11th Annual LifeSci Partners Corporate Access Event from January 5-7, 2022. Raj Mehra, Ph.D., Chairman and CEO, will conduct virtual 1x1 meetings during the event. This event will feature over 200 innovative biotechnology and life sciences companies, allowing for direct engagement with senior management teams and expert panel discussions. Seelos is focused on developing therapies for central nervous system disorders and rare diseases, with a portfolio including treatments for major depressive disorder and ALS.

Seelos Therapeutics (Nasdaq: SEEL) announced the issuance of a patent for SLS-007 by the Japanese Patent Office, covering its gene therapy targeting α-synuclein aggregation in Parkinson's disease (PD). This therapy aims to inhibit the abnormal accumulation of α-synuclein in patients' brains. Currently, Seelos is conducting preclinical studies to assess SLS-007's pharmacokinetic and pharmacodynamic profiles. A similar patent was issued in the U.S. in October 2020, supporting its potential as a disease-modifying treatment for PD.

iX Biopharma Ltd has entered into an exclusive license agreement with Seelos Therapeutics (Nasdaq: SEEL) for its sublingual ketamine product, Wafermine. The deal includes a US$9 million upfront payment and the potential for up to US$239 million in milestone payments based on development and sales achievements. iX will receive double-digit royalties on future product sales while Seelos will manage development and commercialization. This partnership aims to broaden Seelos' ketamine franchise, leveraging iX's WaferiX technology.

Seelos Therapeutics (Nasdaq: SEEL) has entered into a licensing agreement with iX Biopharma for a worldwide license to Wafermine™, a sublingual ketamine wafer, to be used for treating conditions like chronic neuropathic pain and PTSD. The FDA has granted Wafermine™ Orphan Drug designation for Complex Regional Pain Syndrome (CRPS). Seelos will pay $9 million, including $3.5 million in cash and $5.5 million in restricted shares, along with potential milestone payments and royalties. This acquisition strengthens Seelos' ketamine portfolio and aims to offer chronic dosing options for patients.