SEELOS THERAPEUTICS INC - SEEL STOCK NEWS

Seelos Therapeutics (Nasdaq: SEEL) announced promising data from a study of SLS-004, showing a 27% reduction in SNCA mRNA and a 40% reduction in SNCA protein expression in an in vivo rodent model using CRISPR-dCas9 technology. With Parkinson's disease lacking effective treatments, targeting the SNCA gene is crucial as its overexpression is linked to the disease. The ongoing preclinical studies aim to validate these findings and develop a novel therapeutic approach for Parkinson's, with no reported adverse effects during the study.

Seelos Therapeutics (Nasdaq: SEEL) announced the dosing of the first patient in Part 2 of its registrational study for SLS-002, an intranasal racemic ketamine aimed at treating Acute Suicidal Ideation and Behavior in patients with Major Depressive Disorder. This double-blind, placebo-controlled study follows positive results from Part 1, suggesting rapid efficacy. The FDA has indicated that Part 2 will serve as a registrational study. The potential market impact is significant, addressing the urgent need for effective treatments in a landscape where suicides cost the U.S. over $70 billion annually.

Seelos Therapeutics, Inc. (Nasdaq: SEEL) has been added to the Russell 2000®, Russell 3000®, and Russell Microcap® Indexes as of June 28, 2021. This inclusion is expected to enhance Seelos' visibility among investors and reflects the company's progress over the past year. The Russell indexes comprise a significant portion of the US market, with around $10.6 trillion in assets benchmarked against them. Seelos is focused on developing therapies for central nervous system disorders and rare diseases, aiming to address unmet medical needs.

Seelos Therapeutics, Inc. (Nasdaq: SEEL) has been added to the Defiance Next Gen Altered Experience ETF (PSY), the first U.S. ETF focused on psychedelics, which began trading on May 28, 2021. This inclusion is influenced by Seelos' lead program, SLS-002 (intranasal racemic ketamine), which has shown positive top-line data from its Proof-of-Concept study for Acute Suicidal Ideation and Behavior in patients with Major Depressive Disorder. The ETF tracks companies involved in medical psychedelics, with a minimum market cap of $75 million.

Seelos Therapeutics, Inc. (Nasdaq: SEEL) announced receiving European Orphan Drug Designation for SLS-005, a treatment for amyotrophic lateral sclerosis (ALS). This designation provides several advantages, including protocol assistance and reduced regulatory fees, promoting the development of therapies targeting rare diseases. Previously, SLS-005 also secured Orphan Drug Designation from the FDA for ALS and multiple other conditions. The drug's mechanism involves activating autophagy to manage protein aggregation, potentially benefiting patients with ALS.

Seelos Therapeutics (Nasdaq: SEEL) announced the closure of its public offering, issuing 22,258,066 shares at $3.10 each, including an option for underwriters to purchase an additional 2,903,226 shares. The offering generates approximately $64.5 million in net proceeds, with $7.3 million earmarked for repaying convertible promissory notes and the rest for corporate purposes and advancing product development. Guggenheim Securities and Cantor were joint book-running managers for this offering.

Seelos Therapeutics (Nasdaq: SEEL) announced its participation in The Benchmark Company Healthcare House Call Virtual Video 1x1 Investor Conference on May 26, 2021. Raj Mehra, Ph.D., Chairman and CEO, will host individual meetings via conference calls. The company focuses on therapies for CNS disorders and rare diseases, with a portfolio targeting conditions like Major Depressive Disorder, PTSD, and ALS. More details about the conference can be found here.

Seelos Therapeutics, Inc. (Nasdaq: SEEL) has announced a public offering of 19,354,840 shares at $3.10 per share. With the underwriters' option, up to 2,903,226 additional shares could be sold. The offering, expected to close around May 24, 2021, aims to raise approximately $56.1 million in net proceeds. Seelos plans to allocate $6.3 million for repaying convertible promissory notes and the rest for general corporate needs and advancing product development.

Seelos Therapeutics, Inc. (Nasdaq: SEEL) has initiated an underwritten public offering of common stock, subject to market conditions. The company aims to utilize a portion of the funds for repaying convertible promissory notes and for general corporate purposes, including advancing its pipeline of CNS disorder therapies. Guggenheim Securities is the book-running manager for this offering, which may include a 30-day option for underwriters to buy an additional 15% of shares sold. The offering is registered under an effective shelf registration statement with the SEC.